Fees and Expenses Payable By You
You may incur the following fees and expenses when you purchase, switch or sell Advisor Class units of ScotiaFunds™ through your dealer/broker:
Sales Charges
You may have to pay a sales charge if you choose to buy Advisor Class units under the front-end sales charge option. The charge is between 0% and 6% of the amount you invest and is negotiated with your investment professional. The charge is deducted from the amount you invest and paid to your dealer as a sales commission.
Redemption Fees
Under the deferred sales charge option, if you redeem your Advisor Class units within three years of acquiring them, you have to pay a sales charge at the time of the redemption. The charge is up to 3% of the original cost of the units, depending on how long you have held them.
Under the low load sales charge option, if you redeem your Advisor Class units within six years of acquiring them, you have to pay a sales charge at the time of the redemption. The charge is up to 6% of the original cost of the units, depending on how long you have held them.
Switch and Reclassification Fees
You may have to pay your dealer/broker a fee of up to 2% of the value of units you acquire when you switch Advisor Class units between funds. This fee is not paid to the fund. You negotiate the fee and pay it directly to your dealer/broker. Similarly, your dealer/broker may charge you a fee to reclassify your Advisor Class units.
Short-Term Trading Fee
If you sell or switch your Advisor Class 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.
Registered Plan Fees
- You may have to pay $50.00 for each eligible withdrawal from your registered savings or registered income account.
- You may have to pay $50.00 for each transfer from your registered savings account or registered income account to a financial institution that is not a member of the Scotiabank Group.
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 Advisor Class units is not yet available because these units are new.
The following fees and expenses are paid by each fund:
Management Fees
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
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.
Review Legal and Regulatory Information.
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