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Author: IKan Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 69  
Subject: McL. B lowers management fees Date: 4/6/2004 11:35 PM
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http://www.newswire.ca/en/releases/archive/April2004/06/c8328.html



McLean Budden lowers management fees on equity funds to 1.25% - far below Canadian average of 2.33%.


- Second reduction since 2000 reduces MERs on McLean Budden balanced
fund to 0.95%

- New Canadian Equity fund launched


TORONTO, April 6 /CNW/ - Canadian investment manager McLean Budden today announced that it is lowering its management expense ratio (MER) on all 10 of its mutual funds by five basis points - including a newly-launched Canadian Equity fund.

This means that the company's funds will carry an MER ranging from 1.25%
for its equity funds, to 0.95% for its balanced funds and 0.55% for its money market fund.

With this move, McLean Budden now charges its clients among the lowest
MERs, in a fund industry whose MERs generally range from 2.29% to 2.43% for equity and balanced funds.

A small reduction in MER can make a large difference over the long-term
to the value of an investor's funds. For example, a $50,000 investment that grows by 8% per year over 10 years for an investor paying an MER of 1.25% with McLean Budden would be worth $10,321 more than if it had been invested elsewhere and earned the same return over the same period with an MER of 2.33%.

As Douglas Mahaffy, President and CEO, said: "In 2000, we last lowered
our MERs from what was already a low base. We've experienced strong asset growth - our mutual fund assets passed the $1 billion mark in January - and we've been able to reduce our costs through internal efficiencies. As a result, we can further reduce our fees today."

Mahaffy added: "As investment managers working for individual and
institutional investors in Canada and the U.S. since 1947, we have a wider view of just how important the MER issue is. After all, investment success is not just about growth and returns; it's also about managing cost. We're determined to be at the forefront of the industry, and reducing our MERs whenever we can is just common sense."....

...McLean Budden also launched a new fund today, the McLean Budden Canadian
Equity mutual fund, with an MER of 1.25%
....


IKan

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