TORONTO – April 1, 2022 — Beutel Goodman announced today that units of its Class D and Class B funds held in Order Execution Only (OEO) accounts, including discount brokerage accounts, are being switched to Class F. The switch is in compliance with the Canadian Securities Administrators’ ban on trailer fees for OEO accounts.
This switch is a non-taxable event, and no action is required by unitholders.
Regulators enacted the OEO trailer fee ban to prevent non-advisory platforms from collecting fees typically associated with providing ongoing financial advice. Class D and Class B funds pay trailing commissions to a financial advisor or the dealer of record. Class F funds do not pay trailing commissions.
Discount brokerages and other OEO providers may decide to charge investors new fees to process mutual fund purchases going forward, and investors should verify with their broker to inform themselves of all transaction costs associated with purchasing mutual funds. Investors should also contact their broker to confirm whether preauthorized contributions or withdrawals need to be resubmitted.
Class D and Class B units are no longer available for purchase through OEO accounts but remain available through full-service brokers.
About Beutel, Goodman & Company Ltd.
Beutel, Goodman & Company Ltd. is a privately owned, independent Canadian investment manager with $46.0 billion in assets under management as at December 31, 2021. For over 50 years, we have been dedicated to helping our institutional, private wealth and retail clients achieve their long-term investment goals. As value investors, high-conviction ideas and a focus on capital preservation are the cornerstones of our disciplined research process. For more information about Beutel Goodman and our actively managed portfolios, visit www.beutelgoodman.com.
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