Mackenzie and Manulife Lower MERsBy Andrew Rickard | October 10 2014 01:22PM
Both Manulife Financial and Mackenzie Investments have recently lowered the management expense ratios (MERs) of some of their mutual funds.
Mackenzie Financial is lowering fees in its income and balanced asset class categories, resulting in MER reductions to thirteen mutual funds. The decreases range from 15 to 25 basis points. The company has also lowered administration fees on several of its Series A, C, F, SC and T funds. These changes were effective on September 29. Details are available at www.mackenzieinvestments.com/mer
Manulife is lowering the MERs on nineteen different funds, specifically on thirteen of its Series F and FT funds, and four of its Advisor Series and Series T funds. It also lowered costs for investors by waiving a portion of fees on another four funds, but in these cases it has reserved the right to stop doing so at any time. The reductions range from 5 to 40 basis points. All of these changes came into effect by October 1, 2014, and detailed information is available at www.manulifemutualfunds.ca