Foresters Asset Management offers institutional pricing for 2 funds

Foresters Asset Management Inc. will lower the management fees for Series F imaxx Short Term Bond Fund and imaxx Canadian Bond Fund, effective Jan. 1, 2019, the Toronto-based company announced Wednesday.

The firm will continue to absorb a portion of the funds’ operating expenses as a way to lower the management expense ratios (MERs), the company says in a news release.

Details on the new management fees and MERs are available in the company’s news release.

“Ever mindful of management fees eating into investors’ returns, we’ve taken this step to provide institutional expertise, with institutional pricing, for our advisors and unitholders,” said Gregory Ross, president and CEO at the firm, in a statement.

Fee changes will be reflected in the updated simplified prospectus and Fund Facts to be released in May 2019, the firm says. The funds’ investment objectives remain unchanged.

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