Mississauga, Ont.-based RBC Insurance Holdings Inc. (RBC Insurance) has reduced the management fees on seven of its balanced segregated funds by 20 basis points, the company announced on Monday.

The changes are effective June 5 and apply to all new and existing clients. There are no minimum investment requirements or other restrictions.

The fee reductions apply to:

  • RBC Balanced Guaranteed Investment Fund (GIF)
  • RBC Conservative Growth & Income GIF
  • RBC Balanced Growth & Income GIF
  • RBC PH&N Monthly Income GIF
  • RBC Global Balanced GIF
  • RBC Select Conservative Guaranteed Investment Portfolios (GIP)
  • RBC Select Balanced GIP
     

The new management expense ratios (MERs) on the applicable funds range from 1.99% to 2.74%.

Balanced funds are the most popular investment choice for seg fund investors, according to 2016 gross sales figures from Strategic Insights.

"Lower fees allow us to keep more money in our clients' portfolios, providing even more value for the additional benefits that segregated funds provide to our clients," said Jean Salvadore, director of wealth insurance at RBC Insurance, in a statement. "And with no eligibility requirements, no tiers and no additional paperwork, advisors will find it easier than ever to do business with us."

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