Toronto-based Fidelity Investments Canada ULC announced that it's lowering management fees on six of its fixed-income mutual funds.

"As investors increasingly turn towards fixed-income solutions to help provide stability to their portfolios and fund their retirement, we are focused on seeking to maximize income for our clients," says Kelly Creelman, vice president of retail products and solutions at Fidelity Canada, in a statement.

"These management fee reductions — on top of Fidelity Canada's already competitive fees — will allow both new and existing fund holders to keep more money in their pockets to help meet their retirement needs," she adds.

Management fees will be reduced by five basis points among all current series of Fidelity Corporate Bund Fund, Fidelity Corporate Bond Class, Fidelity Global Bond Fund, Fidelity Global Bond Currency Neutral Fund, Fidelity Strategic Income Fund and Fidelity Strategic Income Currency Neutral fund as of July 1, the firm's statement says.

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