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Mackenzie Investments is changing how it prices its mutual funds in a bid to simplify fees and keep pace with competitors.

On Sept. 29, the company reduced fees in 13 mutual funds. The decreases range from 15 to 25 basis points.

Read: Vanguard lowers fees for 11 ETFs

The change is part of an initiative Mackenzie started in 2013 to streamline its products and services. Under the strategy, the company is also looking to attract industry leaders to its team.

Mackenzie also lowered fixed rate annual administration fees on many Series A, C, SC and T funds. In addition, administration fees have been lowered on Mackenzie’s entire offering of Series F mutual funds. Series F funds are available to retail investors who are enrolled in a dealer-sponsored fee-for-service or wrap program.

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Originally published on Advisor.ca

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