Sun Life and Excel cut fees
Toronto-based Sun Life Global Investments (Canada) Inc. and Excel Funds Managements Inc. are reducing the fees for several Excel-branded mutual funds. The fee reductions, effective Feb. 28, include management fees, trailing commissions and deferred sales charges. These changes are a result of Sun Life’s acquisition of Excel, which was completed in January. The management fees of both A-class and F-class units of five funds have been reduced. For example, the management fee for A-class units of Excel New India Leaders Fund has dropped to 2.05% from 2.50%. As well, the management fee for A-class units of Excel Emerging Markets Balanced Fund has dropped to 1.90% from 2.15%. Similarly, the management fee for F-class units of Excel India Fund has dropped to 1.05% from 1.50%. And the management fee for F-class units of Excel High Income Fund has dropped to 0.90% from 0.95%. Sun Life and Excel also announced changes to the trailing commissions, sales charges and redemption schedule for some funds. For details regarding these changes, visit sunlifeglobalinestments.com.