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To: taxman who wrote (21454)	4/23/1999 1:48:00 PM
From: Jean M. Gauthier	Read Replies (1) \| Respond to of 74651

Management expense ratio.... % of expenses on a mutual fund.... pretty expensive.... in the usa it's about 1.25-1.75 or lower.. canada it's 2.5 -3.00% sucks huh ? Take care Jean

To: taxman who wrote (21454)	4/23/1999 2:24:00 PM
From: t2	Read Replies (2) \| Respond to of 74651

taxman, MER=management expense ratio. The only funds up here with low expenses are S and P 500 index funds.----Believe it not but these are considered Canadian content!!! No wonder they are getting so popular here. Great returns and lower costs and considered "Canadian". I think they use the same approach I do from time to time in managing foreign content. They buy index options (s and p) for upto 20 % of the portfolio and hold the balance in Canadian t-bills. The combination of the two gives you the S and P 500!!!! Amazing!!!! (I think their percentages used are different but the result is the same).