Sentry moves forward with fund lineup changes

first_img Keywords MERs and management feesCompanies Sentry Investments Inc. Tessie Sanci imilian/123RF However, the preferred pricing model that was available in Series P will now be available in Series A and Series T under the front-end load option as well as Series F, FT4, FT5, FT6, FT7 and FT8. Clients who currently hold an investment within Series P, PF, P8 and PF8 will have their funds moved to an appropriate corresponding series that remains in the firm’s lineup. For example, investors in Series P8 or PF8 will now own Series T8 or FT8, as applicable, of the same fund. “By adding automatic preferred pricing discounts to our front-end and fee-based series in January, and now eliminating our Series P and Series PF, we have made it easier for financial advisors to ensure they are getting the best pricing for which their clients qualify, back to the first dollar invested,” says Kos Lazaridis, vice president of product at Sentry, in a statement. Sentry is also redesignating some other series within its lineup. More details about the firm’s move to eliminate its preferred pricing series and the effects on investors who own funds within those series, as well as changes to other series, can be found in the firm’s announcement. The various redesignations will not result in a taxable event for investors and will not impact the management of the funds. Sentry is also reducing management fees for investments under $100,000 for Series A and Series T if purchased under the front-end load option, replacing the firm’s earlier decision to provide management fee rebates to these investors. Investors with balances of $100,000 or more in these series will still receive preferred pricing discounts in the form of management fee rebates. All changes will be effective April 4. Photo copyright: imilian/123RF Unitholders approve changes to NEI funds Share this article and your comments with peers on social media Desjardins to close four ETFs Related news Facebook LinkedIn Twitter HSBC changes strategy, lowers fees for global equities fund Toronto-based Sentry Investments Inc. announced on Monday that it’s going ahead with plans to eliminate its preferred pricing mutual fund series and introduce a preferred pricing structure to already existing series to simplify its mutual fund lineup. As a result, the firm will no longer accept new purchases for Series P, PF, P8 and PF8 after the end of the business day on Monday. last_img read more