Fidelity Investments Canada is about to slash mutual fund fees. Starting Jan. 10, Fidelity Canada's investors will pay 15 fewer basis points to purchase front-end load shares of the firm's equity, asset-allocation and balanced funds. The management fee on initial sales charge (ISC) units of Fidelity fixed income and money market funds will also drop by 25 basis points.
Management-related fees on Fidelity Canada's equity, asset allocation and balanced fees will decrease by 20 basis points. Similar fees of fixed-income funds and money markets will shrink by 30 basis points.
Front-end loads, now dubbed Series A, will be known as Series B. After Jan. 10, the current fund shares now held as Series A ISC will automatically convert into the new lower-fee units. Shares purchased through back-end loads will remain in Series A..