Aside from new agreement, the investment firm has announced fee reductions to selected funds
Toronto-based investment firm NEI Investments has selected Lincluden Investment Management as portfolio to the NEI Northwest Canadian Dividend Fund, the underlying fund of the NEI Northwest Canadian Dividend Corporate Class.
The Lincluden team has had more than 30 years of experience in applying value investing for the management of Canadian dividends. Lincluden’s approach to Canadian dividend investing, which focuses on great companies at a discount, has helped the firm grow its business to over $18 billion in AUM for institutional and private wealth clients. Its sub-advisory function will take effect on or about Dec. 23.
In addition, NEI has announced a series of management fee reductions to all Canadian equity funds. The reductions encompass a broad range of series, as well as trust and corporate class funds. The changes are part of a multi-year plan to dial down management expense ratios, which began on Jan. 1, 2015 with 73 fee-based products and portfolio solutions. The second phase, which took effect on Oct. 1, implemented reductions across international and global equity mandates.
"Our ability to find a Canadian investment management talent like Lincluden and then add it to our roster of independent sub-advisors at a competitive price point is what the NEI value proposition is all about," said NEI Senior Vice President and Chief Investment Officer Daniel Solomon.
Management fee reductions of 0.10% will be applied to all Canadian equity funds starting Jan. 1. For the NEI Northwest Canadian Dividend Fund Series A & T and NEI Northwest Canadian Dividend Corporate Class Series A, various absorptions in the operating expenses of each fund will be added to reduce the overall MER by about 40 basis points; the fee-based series of the funds, on the other hand, will have an overall MER reduction of 30 basis points via the 10-basis point cut in management fees and various absorptions in the operating expenses.
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The Lincluden team has had more than 30 years of experience in applying value investing for the management of Canadian dividends. Lincluden’s approach to Canadian dividend investing, which focuses on great companies at a discount, has helped the firm grow its business to over $18 billion in AUM for institutional and private wealth clients. Its sub-advisory function will take effect on or about Dec. 23.
In addition, NEI has announced a series of management fee reductions to all Canadian equity funds. The reductions encompass a broad range of series, as well as trust and corporate class funds. The changes are part of a multi-year plan to dial down management expense ratios, which began on Jan. 1, 2015 with 73 fee-based products and portfolio solutions. The second phase, which took effect on Oct. 1, implemented reductions across international and global equity mandates.
"Our ability to find a Canadian investment management talent like Lincluden and then add it to our roster of independent sub-advisors at a competitive price point is what the NEI value proposition is all about," said NEI Senior Vice President and Chief Investment Officer Daniel Solomon.
Management fee reductions of 0.10% will be applied to all Canadian equity funds starting Jan. 1. For the NEI Northwest Canadian Dividend Fund Series A & T and NEI Northwest Canadian Dividend Corporate Class Series A, various absorptions in the operating expenses of each fund will be added to reduce the overall MER by about 40 basis points; the fee-based series of the funds, on the other hand, will have an overall MER reduction of 30 basis points via the 10-basis point cut in management fees and various absorptions in the operating expenses.
Related stories:
Why it’s time to guide your clients away from ‘safe’ investments
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