MD Financial Management Announces MD Stable Income Fund Fee Reduction
MD Financial Management Inc. (MD) today announced a fee reduction to the MD Stable Income Fund (MDSIF).
The change was approved on June 13, 2019, by the MD Life Insurance Company Board of Directors and will become effective June 13, 2019.
The fee reduction is part of a broader initiative to leverage MD’s relationship with Scotiabank to decrease annual fees for physicians and their families by approximately $6 million. The MDSIF fee reduction alone represents 4% of the cumulative savings benefiting MD’s clients.
Effective June 13, 2019, the fee reduction will be as follows:
|
Name |
Current Management Fee |
Reduced Management Fee |
Change (in bps) |
|---|---|---|---|
|
MD Stable Income Fund |
0.85% |
0.84% |
1 |
New Investment Adviser
MD Financial Management also announced that 1832 Asset Management L.P. will be added as an investment adviser, effective June 13, 2019.
MDSIF is a fixed-income solution investing primarily in conservative fixed-term securities, which are typically held until maturity.
If clients have any questions or would like more information, they are encouraged to contact their MD Advisor*.
About MD Financial Management Inc.
With 50 years of physician-focused experience, MD has one main goal: to help Canada’s physicians achieve financial well-being.
MD has more than $49 billion in assets under administration and is dedicated to serving Canada’s physicians and their families. MD provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.ca.
Media contact
Yali N'Diaye
External Communications Manager
yali.ndiaye@md.ca
613 813-7361
* MD Advisor refers to an MD Management Limited Financial Consultant or Investment Advisor (in Quebec), or an MD Private Investment Counsel Portfolio Manager.