Fidelity Canada Moves to Fixed Administration Fee

Fidelity Canada is standardizing its mutual fund administration fees, so that its fees will be more even, predictable and transparent. The fixed administration fee will be 24 basis points for balanced funds, 29 basis points for North American equity funds, 33 basis points for global equity funds and 11 basis points for fixed income funds.

“Replacing operating expenses with a fixed administration fee will all the management expense ratio for each Fidelity fund to become more predictable and provide investors with greater certainty about the costs of investing in a Fidelity mutual fund,” said Peter Bowen, vice president and fund treasurer of Fidelity Canada.

If investors approve the measure, with voting taking place on Oct. 27, it will go into effect on Jan. 1.