On August 22, 2012, Dynamic Funds announced that securityholders have voted in favour of its proposal to replace operating expenses with a fixed administration fee on a majority of its mutual funds. The result will be increased predictability and transparency to investors, with the fixed administration fees for each series of a fund being lower than or equal to the actual operating expenses charged during the fund's most recently completed financial year.
As of September 1, 2012, operating expenses for the majority of Dynamic Funds and the Marquis Investment Program, other than taxes and certain other costs, will be paid for by its manager, GCIC Ltd. In return a fixed rate administration fee for each fund will be charged and paid to GCIC Ltd.
Under the proposal, the fixed administration fee will range from 0.12% to 0.35% of the respective funds assets under management.
A breakdown by asset class is found in the table below¹.
For details on the rates of the fixed administration fee for each series of a fund please click on one of the schedules below.
¹The fixed administration fee for Series I, IT, IP, O, OP securities are found in the proposed fee schedules and are not included in the table.