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Understanding the Management Expense Ratio (MER)

A Management Expense Ratio (MER) represents the costs associated with owning a mutual fund. It indicates how much a fund pays in management fees and operating expenses (including taxes) on an annual basis. MERs are expressed as a percentage of the daily average net assets during the year.

What You Pay

Sales Tax

What You Get
  • Taxes - HST/GST

Operating Expenses

  • Fund valuation & custodial
  • Audit & legal
  • Record keeping and tax reporting

Portfolio Management

  • Asset mix optimization
  • Investment selection by top money management teams
  • Risk management (ongoing monitoring of money managers and sector exposure, currency management, portfolio rebalancing)
  • Tax effectiveness (i.e. corporate class)

Financial Planning & Advice

  • Planning (investments, estate, tax, retirement)
  • Matching your goals, risk tolerance and time horizon with the desired investment portfolio
  • Optimization: allocating assets into RRSP, RESP, TFSA, etc.
  • Reviewing progress with you on an ongoing basis
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