Home Breadcrumb caret Industry News Breadcrumb caret Industry CIBC to introduce fixed administration fees for certain funds The asset manager said a fixed fee will offer “greater predictability and transparency” By Staff | May 25, 2021 | Last updated on May 25, 2021 1 min read © pilens / 123RF Stock Photo CIBC Asset Management Inc. (CAM) announced a plan to introduce fixed administration fees for certain investment funds and private pools on Tuesday. The fixed fees will apply to the Renaissance Investments funds, Axiom Portfolios and Renaissance Private Pools, replacing the variable operating expenses currently charged by the funds. The new administration fees will apply to all classes of the funds, except for Class O and Class OH, according to a release. CAM said fixed administration fees will offer “greater predictability and transparency of the management expense ratio (MER).” Under the proposal, the MER of each class of each fund is expected to be less than or equal to the most recently published MER. The changes are expected to take effect Sept. 1. Unitholder votes to approve the changes are expected to take place on July 30. (Not all fund classes require unitholder approval for the changes.) For a full list of funds affected by the change, see CAM’s release. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo