Quebec City-based Industrial Alliance Insurance and Financial Services Inc. on Tuesday announced reduced management fees for 65 segregated funds in the Series 75/100 of its popular IAG Savings and Retirement Plan. The automatic fee reduction, which takes effect immediately, can reach up to 50 basis points depending on the fund.
The segregated funds in Series 75/100 include a guarantee of 75% of the amount invested at maturity and 100% in case of death.
All existing and future clients of the series will benefit from the fee reduction on the identified funds, irrespective of the volume of assets held, iA Financial says in its announcement.
Moreover, clients who have already qualified for the Prestige Series (a series that offers preferred pricing to investors who have a significant volume of assets) will also benefit from a fee reduction on 29 funds in Series 75/100, iA Financial adds.
"Our products, which already met clients' needs, are now even more competitive," says Manon Gauthier, senior vice president, individual savings and retirement, in a statement. "This fee reduction will strengthen the positioning of Series 75/100 by offering reassuring protection of investors' wealth at a very competitive rate."
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