Toronto-based TD Asset Management Inc. (TDAM) announced that it will be introducing administration fees for TD emerald funds as of Jan. 1, 2018.

Specifically, TDAM is offering to pay certain operating expenses for multiple TD emerald funds in exchange for a new administration fee payable by each fund to the firm. Currently, each fund covers its own operating expenses.

The new administration fees rates for each fund will be based on the net asset value of the fund. The administration fee will be calculated and accrued daily and paid monthly, the firm says in a statement.

“The [independent review committee] of the funds have provided a positive recommendation after determining that the administration fee, if implemented, would achieve a fair and reasonable result for each fund,” TDAM adds.

The entire list of affected funds is available in the firm’s news release.