TORONTO, Dec. 15, 2014 /CNW/ - NEI Investments ("NEI") today announced the lowering of the fixed administration fees on a total of 38 funds representing 47 series, effective January 1, 2015. These actions build on a series of targeted pricing initiatives over the past two years designed to better align the pricing of NEI's solutions with the evolving demands of investors and advisors.
The fixed administration fees will be lowered on most F series and PF series investments across NEI's trust and corporate class lineup and on a number of other series of the NEI Select Portfolios, which are available in both trust and corporate class versions. The fixed administration fees will be reduced by between 5 and 20 basis points and are expected to eventually be reflected in the lowering of overall MERs for the impacted funds' series.
"We are particularly proud of today's announcement because it is symbolic of our growth as a firm and the fact that these reductions impact such a broad group of investors," said John Kearns, CEO of NEI Investments.
"In 2009, NEI was the first mid-sized company to introduce fixed administration fees to provide investors with greater transparency and predictability around their costs of investing. So fees are something we have been addressing for some time and will continue to address in the future as we see opportunities," continued Kearns.
Advisor fee-based platforms are widely recognized as a growing service model, while managed portfolios have evolved into a staple investment solution for a majority of Canadian investors.
Today's announcement follows a series of pricing related announcements over the past year including the launch of new series with high net worth pricing on select funds, and multiple fee reductions on our global equity funds.
Detailed information on the admin fee reductions can be found at www.neiinvestments.com/feereductions
ABOUT NEI INVESTMENTS
NEI Investments is a national investment firm with over $6 billion in assets under management. It strives to offer Canadian retail investors unique access to top independent money managers through high quality investment solutions in two fund families, Northwest Funds and Ethical Funds. Its products provide investors with a full range of investment management styles as well as conventional and socially responsible investment choices.
NEI Investments is owned 50% by the Provincial Credit Union Centrals and 50% by Desjardins Group. This backing of experience and resources allows NEI Investments to actively support business growth in these networks as well as independent advisor channels.
NEI Investments has offices in Toronto, Vancouver and Montreal.
SOURCE: NEI Investments
For further information: Colin Nekolaichuk, MAVERICK Public Relations, 416-640-5525 ext. 253, [email protected]