VANCOUVER, June 26, 2015 /CNW/ - North Growth Management Ltd. today
announced that it will be lowering its all-inclusive management fees
effective July 1, 2015.
Lower Management Fees
NGM is reducing its all-inclusive management fee on all its prospectus
qualified funds to 0.90%.
For the North Growth U.S. Equity Advisor Fund, the all-inclusive
management fee for Series D and F units will be lowered by 30 basis
points from 1.20% to 0.90%
For the North Growth Canadian Equity Fund Series D and F units, the
all-inclusive management fee will be lowered by 35 basis points from
1.25% to 0.90%.
"North Growth Management Ltd. is encouraged by the growth of the fee for
service model in the advisor channel and this management fee cut
further aligns our F Series products with the fee based advisor
channel," said Rory North, CEO and Lead Portfolio Manager of North
Growth Management Ltd.
Lower Trailing Commissions
In reasonable proportion to the management fee reductions, trailing
commissions on Series D units of both the North Growth U.S. Equity
Advisor Fund and the North Growth Canadian Equity Fund will be reduced
by 20 basis points from 0.50% to 0.30%. The combined total fund level
expenses on Series D for both funds will decrease from 1.70% to 1.20%.
"With combined management fees and trailing commissions totaling 1.20%,
we believe our Series D products provide compelling value and are
primarily targeted towards the discount broker channel," said Rory
Non-Prospectus Qualified Funds
At the same time, Series N, the non-prospectus qualified series of the
North Growth Canadian Equity Fund will see an all-inclusive management
fee reduction of 5 basis points to 1.20%.
The North U.S. Equity Fund will continue to have an all-inclusive
management fee of 1.20%.
North Growth Management Ltd.
North Growth Management is an independent Vancouver investment
management firm specializing in low-fee U.S. and Canadian equity
portfolio management. The North Growth U.S. Equity Advisor Fund
(Series' D& F) and the North Growth Canadian Equity Fund (Series' D&F)
are available through your advisor with a minimum investment of $5,000.
SOURCE North Growth Management Ltd.
Image with caption: "North Growth Management Ltd. (CNW Group/North Growth Management Ltd.)". Image available at: http://photos.newswire.ca/images/download/20150626_C9025_PHOTO_EN_43946.jpg
For further information:
For more information please visit www.northgrowth.com or contact Rory North, CEO and Lead Portfolio Manager, at 604-697-5641 or Rachid Nayel, CFO, at 604-697-5644.