Barclays Declares ‘Fee Freedom Day’ in Canada

Barclays Global Investors Canada has declared April 12 "Fee Freedom Day," the date when investors will be able to keep all of their returns, rather than pay management fees. The firm calculates the date based on five-year median returns on Canadian equity funds. Last year, "Fee Freedom Day" fell on July 28, due to improved returns in 2004.

"‘Fee Freedom Day’ shows just how high mutual fund costs are compared with the returns that these funds deliver," said Howard Atkinson, head of public funds at Barclays Canada. This "celebration" is Barclays’ way of showing "how much mutual fund costs matter" and how important it is for investors to pay them heed, Atkinson said.