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The mutual fund industry says fees have fallen. Have yours?

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A recent report from the Investment Funds Institute of Canada says mutual fund fees have plunged by nearly 30 per cent over the past decade.

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The report attributes the drop to reductions in management fees and investors shifting to lower-cost funds, but MERs on many mutual funds purchased through advisors remain closer to three per cent. That’s why trailing commissions are banned in countries including the United Kingdom and Australia. After years of heel dragging, the practice of discount brokers collecting trailing commissions was banned by Canadian securities regulators in 2022, but nothing compels discount brokers to offer non-advisor versions of mutual funds. In fact, nothing compels mutual fund companies to offer a discount version.

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