Changes to fees announced for Dynamic Money Market Fund and Dynamic Money
Market Class
TORONTO, Oct. 4 /CNW/ - Goodman & Company, Investment Counsel Ltd. ("Goodman & Company"), manager of Dynamic Money Market Fund and Dynamic Money Market Class (the "Funds"), today announced changes to the fee structure for the Funds in response to the changing interest rate environment in Canada.
Effective October 4, 2010, the management fee on Dynamic Money Market Fund Series A and Dynamic Money Market Class Series C will be reduced from 1.00% to 0.80%, while the management fee on Dynamic Money Market Fund Series F will be reduced from 0.60% to 0.50%.
On April 16, 2009, Goodman & Company implemented a temporary waiver, reducing the management fee to 0.25% on all series of the Funds to maintain a positive yield for unitholders as short-term interest rates in Canada were at historically low levels. A temporary waiver remains applicable for certain series of the Funds. Effective October 4, 2010, the management fees for the Funds will change as follows:
Management Fee Dynamic Money Market Fund Series A 0.55% (temporary waiver) Series F 0.50% Dynamic Money Market Class Series A and Series F 0.50% Series C 0.55% (temporary waiver)
Furthermore, Dynamic Money Market Fund has begun to generate distributions again for investors as per the distribution policy outlined in its prospectus.
As of April 1, 2009, service fees paid to dealers by Goodman & Company from the management fees collected on certain series were temporarily suspended. Effective October 4, 2010, service fees will be reintroduced for units of the Funds purchased on a front end sales charge option basis only.
Goodman & Company may make further changes to the rate of the management fees and/or service fees, including increasing the fees to their previous levels or making further reductions, as it considers advisable based on market conditions.
About Goodman & Company
Goodman & Company is a Canadian asset management company tracing its roots back more than 50 years. Goodman & Company offers a wide range of wealth management solutions through financial advisors. These include the mutual funds and hedge funds of Dynamic Funds(R), the portfolio solutions of the Marquis Investment Program, the flow-through limited partnerships of CMP(TM) and Canada Dominion and the high-net worth investment counsel of DW Investment Counsel. Goodman & Company is a wholly owned subsidiary of DundeeWealth Inc. (TSX: DW).
For further information: Customer Relations Centre, Goodman & Company, Investment Counsel Ltd., 1-800-268-8186 or www.dynamic.ca; Myra Reisler, Media Relations, (416) 365-5370
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