Canada's two largest managers of exchange-traded funds are engaging in nickel and diming that investors can only applaud.
The latest volley in the ETF price war was fired by the second-largest player, BMO Asset Management Inc. It's slashing management fees on seven of its ETFs by anywhere from five to 20 basis points, effective April 30. (See table below.)
Announced on April 21, the fee reductions affect six equity funds and one fixed-income fund. In most cases, they match reduced management fees that took effect on March 25 at the $43.3-billion iShares ETF family sponsored by market leader BlackRock Asset Management Canada Ltd.
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