Reduction in management fees aligns with MD's mandate to help clients meet their long-term investment goals
OTTAWA, May 22, 2015 /CNW/ - MD Financial Management Inc. (MD), a Canadian Medical Association (CMA)-owned wealth management organization, today announced a reduction in management fees.
Effective May 25, 2015, the MD International Growth Fund management fee of 1.65% has been reduced by 0.05% to 1.60% and the MD International Value Fund management fee of 1.80% has been reduced by 0.20% to 1.60%.
"The reduction in management fees means that the management expense ratio for all MD funds is now below 2%," said Brian Peters, President and CEO of MD. "MD's fees are already some of the lowest in Canada¹. This further reduction is part of our ongoing commitment to put our physician clients' best interests first in order to help them reach their financial goals."
The changes will be reflected in the Simplified Prospectus dated Monday, May 25, 2015. The investment objectives and strategies of the funds or pools remain unchanged.
For more information, contact an MD Advisor or call the MD Service Centre at 1 800 267-2332.
1MD compared the management expense ratio, or MER, for MD mutual funds and Precision Portfolios™ with the median mutual fund MERs for comparable funds using data from Investor Economics as of December 31, 2014. The MER is the fee charged to investors to cover the costs of operating a mutual fund. It is expressed as a percentage of the fund's average total assets. Source: Investor Economics, December 31, 2014.
About MD Financial Management
Owned by the Canadian Medical Association, MD's only business imperative is to enhance physicians' financial outcomes by focusing on their distinctive needs and operating in their best interests.
MD Financial Management has more than $41 billion in assets under administration and is dedicated to serving Canada's physicians and their families. MD provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.cma.ca.
SOURCE MD Financial Management Inc.
For further information: Media Contacts: Maria Grant, Manager, External Communications, MD Financial Management, [email protected], 613 809-0657; Deborah Thompson, DT Communications, [email protected], 416 918-9551