Toronto-based Invesco Canada Ltd. announced on Monday that it’s planning to trim fees on select series on certain funds within its lineup as well as cap operating expenses.

The changes, which kick in May 23, will have an immediate impact on 75 fund series.

Series F of the Invesco Short-Term Bond Fund, for example, will see its management and advisory fees (MAF) reduced to 0.65% from 0.75% as part of the bid to reduce its MAF. This fund’s series will also see a cap of 0.20% on its operating expenses.

Depending on the particular series in question, the management expense ratio (MER) may be lowered by as much as 0.53 percentage points, with the average MER reduction at about 0.17 percentage points.

“The operating expense caps will also provide cost certainty to investors in the funds that are not seeing an immediate impact,” Invesco’s news release adds.

As Invesco calculates and releases MERs on a semi-annual basis, MERs on affected funds will be posted in two phases. Impacted funds that have a yearend date of Dec. 31 will see the fee reduction fully reflected on June 30, 2018, while those that end on March 31 will see it on Sept. 30, 2018.

Invesco also notes that the “actual MER reduction may be different than disclosed” in its release, adding that “the series will not see an immediate decrease in the published MER.”

A full list of all the affected funds is available in the company release.