Toronto-based Brandes Investment Partners and Co. is making some changes to multiple funds, including lowering management fees and re-classification of certain series for some products.

The decreased fees will affect various series within six particular funds and will be effective Aug. 1, according to the announcement released by Brandes, which is known as Bridgehouse Asset Managers.

The affected funds are:

  • Brandes Global Equity Fund
  • Brandes Global Equity Class
  • Brandes International Equity Fund
  • Brandes Global Opportunities Fund
  • Sionna Canadian Equity Fund
  • Sionna Canadian Equity Private Pool

The new fees and the series to which those fees apply can be found through the firm’s announcement (http://www.newswire.ca/news-releases/bridgehouse-asset-managers-lowers-management-fees-on-certain-brandes-and-sionna-funds-588163542.html?tc=eml_mycnw), which was released Monday.

Bridgehouse is also planning to eliminate Series AN and Series FN of the following funds:

  • Brandes Global Equity Fund
  • Brandes Global Opportunities Fund
  • Brandes International Equity Fund
  • Sionna Canadian Equity Fund

The move must still receive the required approvals. The firm plans to move investors within Series AN to Series A and Series FN to Series F. The series that are being eliminated currently apply to clients who reside in provinces and territories that do not have a harmonized sales tax.

Series AN and Series FN of the affected funds will be closed to new purchases as of Aug. 1. The re-classification of those funds is expected to be implemented on or about Sept. 2.

“These changes will simplify the line-up of series offered by these funds,” states the firm’s announcement. “All processing, costs and expenses associated with these re-designations will be paid for by Bridgehouse.”

Lastly, Bridgehouse has modified the investment strategy connected to Brandes Emerging Markets Value Fund. The stated strategy will now reflect the fact that the fund will generally invest in the equity securities of companies with market capitalizations greater than $3 billion. This change is effective immediately.

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