Dynamic Funds reduces feesBy The IJ Staff | April 03 2017 09:45AM
Dynamic Funds has announced it will be introducing additional fee reductions. It will be lowering management fees and fixed administration fees to simplify product offerings.
Additionally, management fees on eligible funds and series for investors holding large investments will also be reduced automatically. Also, the deferred sales charge (DSC) purchase option will also be discontinued across Dynamic Funds’ lineup. Certain other series options, fees and expenses will be capped or eliminated, said the company in an announcement March 31.
Fee-based or traditional embedded fee structure
"To offer investors simplicity and even greater value for their investments, Dynamic Funds has further improved its pricing to offer lower fees and expenses and automatic discounts. No matter if an advisor works within a fee-based or traditional embedded fee structure, their clients will receive the lowest offered fee level without the need to switch to a different series," says Mark Brisley, Managing Director and Head, Dynamic Funds. "In light of industry trends, we've also taken the opportunity to discontinue the DSC purchase option as advisors have moved dramatically to other options that align with their clients' objectives."
Elimination of performance fees
In an effort to further simplify the Dynamic Funds product lineup, some of the changes being made include the elimination of performance fees on certain funds; the lowering of the investment minimum for Series I, IT, and IP from $100,000 to $25,000; the capping of the investment minimum of Series P, FP, and IP of certain funds and the capping of Series G for all funds. Series FI of certain funds will be capped but will remain open for purchases by existing securityholders.