CI Investments announced July 30 that it is reducing management fees for 33 mutual funds. The fund company is also enhancing its CI Preferred Pricing to enable more investors to benefit from the program's tiered fee structure.
The management fee reductions on the 33 funds will range from five to 55 basis points (0.05-0.55%) and will be effective Aug. 1, 2018.
The minimum investment requirement to qualify for the CI Preferred Pricing program will drop to $100,000 from $150,000, effective Oct. 1, 2018. Clients with eligible investments at CI of $100,000 or more will automatically receive fee reductions offered by the program, says the company.
Family Group pricing
CI is also reducing the minimum investment requirement to $100,000 from $250,000 to qualify for Family Group pricing under CI Preferred Pricing, effective Oct. 1, 2018.
"These are significant fee changes that will benefit hundreds of thousands of our investors," said Roy Ratnavel, Executive Vice-President and Head of Sales for CI Investments. "Investors will be accessing our actively managed investment solutions and the expertise of our leading portfolio management teams at a lower cost. CI is committed to continually enhancing our product lineup and to providing Canadian investors with effective investments that will help them meet their financial goals."
CI is reducing management fees for Class A, F and P securities and certain CI Preferred Pricing tiers of selected funds, and for Series A, B and F securities of selected Sentry-branded funds. The reductions focus on fixed-income and global specialty equity mandates. Click here to learn more.