Mutual fund giant paves way by cutting fees?

Mutual fund giant paves way by cutting fees?

Mutual fund giant paves way by cutting fees?

The writing may be on the wall for mutual fund providers, with one industry giant moving Monday to slash management fees in a bid to shore up its ship.

The firm announced fee reductions on two of its funds – the Access Capital Community Investment Fund and the RBC SMID Cap Growth Fund. The company also launched Class A shares for four funds sub-advised by its London-based affiliate including the RBC BlueBay Emerging Market Select Bond Fund, RBC BlueBay Emerging Market Corporate Bond Fund, RBC BlueBay Global High Yield Bond Fund and RBC BlueBay Absolute Return Fund.

“These initiatives are part of an ongoing effort to increase our presence and grow our business in the retail advisory marketplace, reflecting our commitment to the professional buyer market and U.S. investors,” said Mike Lee, CEO and CIO of RBC GAM-US in a release.

As of September 9, the annual management fee of the Access Capital Community Investment Fund was reduced by eliminating the management fee charged on assets purchased with borrowed monies. Its investment policies were also modified to allow a portion of total assets to be invested in securities rated below the highest category by a nationally recognized statistical rating organization such as S&P or Moody’s. (continued on Page 2.)


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1 Comments
  • philippe m martin 2013-12-02 11:21:30 AM
    POLITICS AND BANKS FINALLY GOT THE LIFE INSURANCE INVESTMENT BY THE BALLS. IF YOU CANNOT BEAT A SECTOR , GET IT MUTILATED........THANK YOU MACKAKERN 1982, WILSON,AND THAN FLAHERTY. pmm
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