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Frank advice for money managers: Embrace low fees, or else Add to ...

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For many Canadian asset managers, this fall is feeling a little like end times. After scrambling to implement tough new fee-disclosure rules enforced in July, they’re now bracing for the provincial securities regulator’s final consultative paper on mutual-fund fee reform.

Almost four years after the review on mutual-fund fees started, and two independent studies later, the regulators swear they’re ready to get serious. Their research uncovered two unfortunate facts: Mutual funds that pay trailer fees tend to perform worse over time than all other funds, and they also attract more inflows of cash even when they perform badly.

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