The firm has also named Patrice Quirion as portfolio manager of two mutual funds
The firm will also increase management fee distributions on certain funds and close a fund to new purchases
Capped MERs for some series will be reduced
The fee reductions also involve the Series O units of several PH&N funds
The management expense ratio model is replaced with a fee expense ratio model in which the cost of mutual fund ownership is fixed
The changes include lower management fees, new names for several funds and a new currency hedged series
The changes include management fee reductions and an increase to the minimum initial investment
New investment objectives for seven funds
Management fees will be reduced by five basis points among all current series of the affected funds as of July 1
The changes include tweaking the investment objectives and strategies, modifying corporate classes and reducing fees