TORONTO, May 14, 2018 (GLOBE NEWSWIRE) — Bridgehouse Asset Managers (Bridgehouse), the retail trade name for Brandes Investment Partners & Co., has announced management fee reductions, to be effective on or about June 1, 2018, for Series A and Series F of Greystone Canadian Bond Fund, Lazard Global Balanced Income Fund and Lazard Global Equity Income Fund and Series AH and Series FH of Lazard Global Equity Income Fund.
Bridgehouse has also announced changes to the eligibility for its large investor fee reduction program, in order to improve the operational efficiency of this program. Further, Bridgehouse has announced risk rating changes for Brandes Emerging Markets Value Fund, Brandes U.S. Equity Fund, Brandes U.S. Small Cap Equity Fund, Sionna Canadian Small Cap Equity Fund, as a result of Bridgehouse’s annual review of the risk ratings of its mutual funds (the Funds), and the change of name of Lazard Global Low Volatility Fund to Lazard Global Managed Volatility Fund.
Management Fee Reductions
The following management fee reductions will be effective on or about June 1, 2018:
| Fund | Affected Series | Fee Reduction | New Management Fee | ||
| Greystone Canadian Bond Fund | Series A | 0.20 | % | 0.80 | % |
| Series F | 0.20 | % | 0.30 | % | |
| Lazard Global Balanced Income Fund | Series A | 0.20 | % | 1.80 | % |
| Series F | 0.20 | % | 0.80 | % | |
| Lazard Global Equity Income Fund
|
Series A | 0.15 | % | 1.95 | % |
| Series AH | 0.15 | % | 2.00 | % | |
| Series F | 0.15 | % | 0.95 | % | |
| Series FH | 0.15 | % | 1.00 | % | |
Changes to Large Investor Fee Reduction Program
In order to improve the operational efficiency of Bridgehouse’s large investor fee reduction program, effective May 10, 2018, accounts belonging to a single investor that hold series eligible for a fee reduction are qualified to receive a management fee distribution, where the balance of such accounts equals or exceeds $250,000 with respect to eligible securities of certain Funds.
Prior to May 10, 2018, accounts belonging to certain other individuals living at the same address as the investor, as well as certain corporate and trust accounts of the investor, were considered as part of this $250,000 threshold and qualified to receive management fee distributions. Accounts that so qualified on May 9, 2018 will continue to qualify for the large investor fee reduction program, provided that minimum investment amounts and other eligibility requirements continue to be met.
The management fee distribution rate under the large investor fee reduction program for Greystone Canadian Bond Fund, Lazard Global Balanced Income Fund and Lazard Global Equity Income Fund has also been adjusted to reflect the corresponding management fee reductions.
Risk Rating Changes
Effective May 10, 2018, the risk ratings of the Funds listed in the table below have changed. There are no changes to the investment objectives, strategies or management of these Funds associated with the new risk ratings.
These changes are based on the new standardized risk classification methodology mandated by the Canadian Securities Administrators and the annual review conducted by Bridgehouse to determine the risk rating of the Funds.
| Fund | Previous Risk Rating | New Risk Rating |
| Brandes Emerging Markets Value Fund | High | Medium to High |
| Brandes U.S. Equity Fund | Medium | Medium to High |
| Brandes U.S. Small Cap Equity Fund | Medium to High | High |
| Sionna Canadian Small Cap Equity Fund | Medium to High | Medium |
Change of name of Lazard Global Low Volatility Fund
Effective May 10, 2018, the name of Lazard Global Low Volatility Fund has been changed to Lazard Global Managed Volatility Fund. There are no changes to the investment objectives, strategies or management of these Funds associated with this name change.
About Bridgehouse Asset Managers
Bridgehouse Asset Managers (Bridgehouse), a trade name of Brandes Investment Partners & Co. since 2013, offers time-tested investment solutions to Canadians, leveraging the expertise of world-class investment managers. In everything it does, Bridgehouse is committed to partnering with investment professionals to help Canadians reach their financial goals and become smarter investors. Bridgehouse offers 30 mutual funds featuring a variety of asset classes, styles and objectives to meet individual needs for growth or income. Our investment managers all employ an active management philosophy, with a goal of outperforming benchmarks and peers, and helping investors build long-term wealth in their portfolios. Through one source, investors can access the expertise of five world-class investment managers: Brandes Investment Partners, L.P., Greystone Managed Investments Inc., Lazard Asset Management (Canada) Inc., Sionna Investment Managers Inc. and Morningstar Associates, Inc.
For more about Bridgehouse visit: bridgehousecanada.com and follow us on Twitter and LinkedIn
Brandes Investment Partners & Co., operating as Bridgehouse Asset Managers (Bridgehouse), is the manager of the Bridgehouse Funds. Securities of the Bridgehouse Funds are available through registered dealers only and not available through Bridgehouse. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
This news release is for information purposes only.
Media Contact
Elizabeth Hoyle
Chief Marketing Officer
Bridgehouse Asset Managers
416.306.5670
[email protected]