MONTRÉAL, May 14, 2014 /CNW Telbec/ - After reducing the management expense ratio (MER) of two FÉRIQUE Funds on January 1, Gestion FÉRIQUE announced a second MER reduction for eight funds which is effective since May 1, 2014.
All in all, 10 out of the firm's 11 funds have seen their management fees reduced by 5 to 10 basis points since the beginning of the year.
"These cuts were made possible because of the strong performance of FÉRIQUE Funds in 2013 and solid corporate management, explained Fabienne Lacoste, CFA, President and CEO of Gestion FÉRIQUE. Gestion FÉRIQUE is a non-profit financial corporation that strives to cover its operating expenses without seeking a profit margin. So when markets provide solid returns, our investors are the first to benefit."
The new MER schedule ranges from 0.25% to 1.15%, with no additional fees for advisory services, account opening or administration, interfund transfers, front-end or back-end load or transactions, which would further reduce a client's net investment returns. Note that the MER of the new FÉRIQUE Balanced Growth Fund, launched in February, was also reduced to 1.05%.
| Management Expense Ratios (MERs) |
|||
| Fund |
01-oct-2012 |
01-janv-2014 |
01-may-2014 |
| FÉRIQUE Short-Term Income |
0.25% |
0.25% |
0.25% |
| FÉRIQUE Bonds |
0.75% |
0.65% |
0.65% |
| FÉRIQUE Moderate Balanced |
1.00% |
0.90% |
0.85% |
| FÉRIQUE Balanced |
1.00% |
1.00% |
0.90% |
| FÉRIQUE Balanced Growth |
- |
1.10%* |
1.05% |
| FÉRIQUE Dividend |
1.00% |
1.00% |
0.90% |
| FÉRIQUE Equity |
1.00% |
1.00% |
0.90% |
| FÉRIQUE American |
1.10% |
1.10% |
1.05% |
| FÉRIQUE Europe |
1.20% |
1.20% |
1.15% |
| FÉRIQUE Asian |
1.20% |
1.20% |
1.15% |
| FÉRIQUE World |
1.20% |
1.20% |
1.10% |
| * as of February 20, 2014 |
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Gestion FÉRIQUE seeks to deliver returns that outperform the industry medians year after year, while keeping risk to a reasonable level, and maintaining MERs below the 25th percentile of similar funds in Canada. A Fee Effect Calculator is available on the company's website at www.ferique.com to illustrate the actual impact of lower MERs on net long-term performance.
As of April 30, 2014, FÉRIQUE Funds had close to 2 billion dollars in assets under management and 21 845 unitholders.
About Gestion FÉRIQUE
Founded on January 1, 2000, Gestion FÉRIQUE (www.ferique.com) is the manager of FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. FÉRIQUE is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers, engineering graduates and their families. The firm offers 11 mutual funds diversified across all asset classes. Management of the Funds is entrusted to renowned investment firms, handpicked by Gestion FÉRIQUE based on their asset class expertise. FÉRIQUE Funds have approximately $2 billion in assets under management and close to 22,000 clients.
Note: Please note: There may be commissions, trailing commissions, management fees and expenses associated with investment in the Funds. Management expense ratios vary from one year to another. Please read the prospectus before investing. Mutual funds are not guaranteed, their values fluctuate frequently and past performance may not be repeated. FÉRIQUE Funds are distributed by Services d'investissement FÉRIQUE, as Principal distributor. FÉRIQUE Funds pay management fees to Gestion FÉRIQUE allowing it to assume the fees of the portfolio managers, the fees relating to the marketing or distribution of the FÉRIQUE Funds and the administration fees of the manager of the FÉRIQUE Funds. Each of the Funds pays all of its own operating expenses. No commissions are payable by the unitholders for a subscription in the FÉRIQUE Funds if such subscription is made through Services d'investissement FÉRIQUE; brokerage fees could however be payable should the subscription be made through a representative's firm.
SOURCE: Gestion FÉRIQUE
Manon Duhamel, Senior Director, Marketing and Communications, Gestion FÉRIQUE, 514 840-9206, ext. 450, [email protected]
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