ScotiaFunds, a division of 1832 Asset Management, announced that it will be streamlining and trimming fees on some of its cash-equivalent fund offerings
ScotiaFunds, a division of 1832 Asset Management, announced that it will be streamlining and trimming fees on some of its cash-equivalent fund offerings.
Commencing on November 10th, the maximum management fees for Series A units of the Scotia T-Bill Fund and Scotia Money Market Fund will be reduced from 1% to 0.75%, ScotiaFunds said.
Additionally, unitholders with $100,000 or more invested in Series A units of the two funds will automatically be given a 0.25% management fee distribution.
Meanwhile, ScotiaFunds will be terminating its Scotia Premium T-Bill Fund to new purchases. The closure of the fund is slated also occur on November 10th.
ScotiaFunds said unitholders who have invested $250,000 to $1 million will be given an increased management fee distribution of 0.35% from 0.20%.
Early this year, ScotiaFunds announced a simplified pricing framework for its lineup of 51 funds.
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Commencing on November 10th, the maximum management fees for Series A units of the Scotia T-Bill Fund and Scotia Money Market Fund will be reduced from 1% to 0.75%, ScotiaFunds said.
Additionally, unitholders with $100,000 or more invested in Series A units of the two funds will automatically be given a 0.25% management fee distribution.
Meanwhile, ScotiaFunds will be terminating its Scotia Premium T-Bill Fund to new purchases. The closure of the fund is slated also occur on November 10th.
ScotiaFunds said unitholders who have invested $250,000 to $1 million will be given an increased management fee distribution of 0.35% from 0.20%.
Early this year, ScotiaFunds announced a simplified pricing framework for its lineup of 51 funds.
Related stories:
Investment firm makes changes to lower costs
Aside from costs, what factors are critical for investments?
