Here we provide an overview of the fees and expenses you may have to pay when you invest in ScotiaFunds. You may have to pay some of these fees and expenses directly; others may be paid by the funds, which reduces the value of your investment. We do not charge any administration or other fees for opening a Scotia Securities Inc. (SSI) Investment Account.
The following information applies only to Class A, Class F and Class I units. For Advisor Class units of ScotiaFunds purchased, switched, or sold through your broker/dealer, see Fees and Expenses - Advisor Class Units.
Fees and Expenses Payable By You
When you purchase, switch or sell Class A, Class F or Class I units of ScotiaFunds in your Scotia Securities Inc. (SSI) Investment Account, you may incur the following fees and expenses:
If you sell or switch your units within 31 days of buying them, you may be charged a short-term trading fee of 2% of the amount you sell or switch. This fee is paid directly to the fund and does not apply to cash equivalent funds.
$50.00 for each eligible withdrawal from your registered savings account.
$50.00 for each transfer from your registered savings account to a financial institution that is not a member of the Scotiabank Group.
We do not charge a fee for transfers within the Scotiabank Group.
SSI Registered Income Accounts
We do not charge a fee for regularly scheduled payments from your registered income account.
We do not charge a fee for the first cash withdrawal per year made from your registered income account; there is a fee of $50.00 for each additional cash withdrawal.
$50.00 for each transfer you make from your registered income account to a financial institution that is not a member of the Scotiabank Group.
We do not charge a fee for transfers made within the Scotiabank Group.
$50.00 to close your registered income account.
SSI Non-Registered Accounts
We do not charge a fee for making a withdrawal from your non-registered SSI Investment Account.
Fees and Expenses Payable By ScotiaFunds
The total of all fees and operating expenses paid by a fund during the year (excluding brokerage commissions), divided by the fund's average net asset value for the same year, is known as the Management Expense Ratio (MER), and is expressed as a percentage. The MER for each fund can be found in its fund profile.
The following fees and expenses are paid by each fund:
The manager of the ScotiaFunds charges each fund for managing its portfolio and operating the fund. The fee is usually expressed as a percentage of the fund's average net asset value, is calculated daily and paid monthly, and varies by fund.
Operating expenses may include legal fees and other costs incurred to comply with legal and regulatory requirements and policies, audit fees, custodial fees, taxes, brokerage commissions, unitholder communication costs and other administration costs. Each class of a fund is allocated its own expenses and its proportionate share of the fund's expenses that are common to all classes.