Fiera Capital Corporation, the manager of imaxx Short Term Bond Fund and imaxx Canadian Fixed Pay, announced May 17 its intention to discontinue the deferred sales charge (DSC) and low load sales charge (LSC) purchase options for the imaxx Funds effective on or about June 30, 2021.
Fiera says that investors who purchased units of an imaxx Fund under the DSC purchase option or LSC purchase option “will remain invested based on the redemption fee schedule applicable to those units, and switches from existing units acquired under the DSC and LSC purchase options will continue to be available.”
The Canadian Securities Administrators announced in February they will ban deferred sales charges on mutual funds effective June 1, 2022. Ontario recently followed suit.