Montreal-based Desjardins Global Asset Management Inc. (DGAM) will lower the management fees of five ETFs, effective Nov. 1.
The five funds are the:
- Desjardins Canadian Universe Bond Index ETF, with its fee dropping from 0.10% to 0.07%;
- Desjardins Canadian Short Term Bond Index ETF, with its fee decreasing from 0.09% to 0.07%;
- Desjardins 1-5 year Laddered Canadian Corporate Bond Index ETF, with its fee going from 0.25% to 0.15%;
- Desjardins 1-5 year Laddered Canadian Government Bond Index ETF, with its fee dipping from 0.15% to 0.12%.; and
- Desjardins Canadian Preferred Share Index ETF, with its fee dropping from 0.45% to 0.40%.
Across the group of funds, which all have inception dates of April 2017, the range for returns since inception was between 1.83% for the short-term bond ETF and 5.08% for the preferred share ETF, as of Sept. 30.
Reducing the management fees of these five funds is part of the company’s effort to make its ETFs “more accessible to investors as a way of reaching their long-term goals,” said Nicolas Richard, president and CEO of DGAM, in a release.