As an investor, you want to be informed about the fees and charges that are paid either directly by you, or by the funds that you invest in.


When you invest, we will provide you with the information you need up front for your specific investment choices. Transaction fees will be reported as they occur, and you will also receive an annual Fee Summary with your statement that shows the amounts that we collected over a 12 month period.


The information here answers many questions regarding fees. For mutual fund investments, you may also refer to the fund’s financial statements, prospectus, the Management Report of Fund Performance, or Fund Facts. If you have additional questions, contact your Investors Group Consultant.

Watch these short video clips to learn more about MERs and what appears on your statement

What is an MER?

What is the DNA of an MER?

What's the difference between Dealer Service Cost and MER?

Your Fee Summary

Who pays fees and expenses and who receives payment?

  • FEES AND EXPENSES INCLUDED IN A MUTUAL FUND MANAGEMENT EXPENSE RATIO (MER)

    Fees and expenses included in the MER are paid by the mutual fund.



    Operating and other expenses

    Fees payable by the fund (excluding management fees) to cover administrative costs and expenses required to operate the fund.

    Examples of what if covers:

    • Fund accounting and valuation
    • Tax Reporting
    • Audit fees
    • Legal expenses
    • Regulatory filing fees
    • Distribution fees
    • Service fees
    • Trustee fees

    Where is the amount shown?



    Management fees

    Fees paid to the fund’s manager and/or portfolio advisors for investment advisory and management services, and to the dealer for distribution (client) related services.


    Examples of what it covers:

    • Selecting investments, managing risks, analyzing securities, and managing asset class allocations
    • Account statements
    • Consultant compensation
    • Ongoing service and advice
    • Comprehensive planning

    Where is the amount shown?

    • Included in the MER. MERs are published in the Management Report of Fund Performance and Fund Facts for each fund series.
    • The portion paid to the dealer (Dealer Fee or Trailing Commission) is shown as a dollar amount on your Annual Fee Summary included with your statement.


    Taxes

    • GST
    • PST
    • HST

    Where is the amount shown?

  • MUTUAL FUND TRADING EXPENSE RATIO (TER)

    The Mutual Fund Trading Expense Ratio (TER) reflects the trading related expenses that are incurred when securities within a fund are bought and sold by the fund manager.

    Who pays the TER?

    • TER expenses are paid by the mutual fund.

    Where is the amount shown?

  • OTHER FEES WHICH MAY BE CHARGED DIRECTLY TO THE INVESTOR

    Administration fees

    Fees that are paid for general administration of your account.


    Examples of what if covers:

    • Annual administration fee
    • Separately managed account fee (Investors Group Azure)
    • Money market chequing services fee
    • Advisory fee for iProfile and Series U funds

    Where is the amount shown?

    • Administration fees will appear on your statement in the period when they are charged.
    • Advisory fees will show as a separate year-to-date summary.
    • Your Annual Fee Summary will show the total administration fees for a 12 month period.


    Transaction Fees

    You may have to pay other fees for specific transactions, such as when you choose to buy, sell or switch units of the fund.


    Examples of what it covers:

    • Account deregistration
    • Transfer fee
    • Excessive switching fee
    • Short-term trading fee
    • Duplication statement fee
    • Deferred sales charges (DSC)
    • Banking charges (i.e. certified cheques, stop payments, wire transfers, or returned items)

    Where is the amount shown?

    • Specific transaction fees will appear on each statement in the period when the transaction occurred.
    • Your Annual Fee Summary will show total transaction fees for a 12 month period.


    Taxes


    Examples:

    • Withholding tax
    • GST, HST