Ninepoint Drops Incentive Fee on American Growth Fund
The Toronto-based manager eliminated the incentive fee on all existing series of Ninepoint American Growth Fund, effective immediately.
Updated on Nov. 3, 2026 in Investing
Ninepoint Partners LP has eliminated the incentive fee on all existing series of Ninepoint American Growth Fund, effective immediately. The change applies to 12 series of the Fund, including ETF Series (TSX: NAGF).
Why it matters
The move lowers the cost of holding the Fund for existing investors, who no longer pay a performance-based fee. It also reflects the manager's broader push to attract new investors through reduced introductory management fees on newly launched series.
The announcement sets Series S at a 1.425% introductory management fee and Series SF at 0.425%, both in effect until December 31, 2028. Whether the Fund hits the $200 million cap before the December 31, 2026 deadline has not been disclosed.
The players
Ninepoint Partners LP
Ninepoint Partners is a Toronto-based investment manager with roughly $8 billion in assets under management.
Tony Genua
Tony Genua is one of the three portfolio managers who actively manage Ninepoint American Growth Fund.
Sam Mitter
Sam Mitter is one of the three portfolio managers who actively manage Ninepoint American Growth Fund.
Jonathan Lo
Jonathan Lo is one of the three portfolio managers who actively manage Ninepoint American Growth Fund.
The details
Ninepoint Partners LP, which manages about $8 billion in assets, is the manager of the Fund, which is actively managed by Tony Genua, Sam Mitter and Jonathan Lo. The Fund invests primarily in large- and mid-cap U.S. companies in secular growth industries. Series S and Series SF units launched in November 2026 and remain available until December 31, 2026 or until the Fund reaches $200 million, whichever comes first.
Timeline
November 2026: Series S and Series SF units launched.
November 3, 2026: Incentive fee elimination announced, effective immediately.
December 31, 2026: Series S and SF availability ends and ETF Series fee waiver expires, absent an earlier $200 million threshold.
December 31, 2028: Reduced Series S and SF management fees expire.
Market Dynamics
The move extends a Canadian trend toward lower-cost fund series, which the Canadian Securities Administrators have pushed through fee disclosure requirements. Removing a performance-based fee from existing series places this change in line with that broader push toward cheaper fund ownership.
Existing unitholders in the Fund no longer pay an incentive fee, which lowers the ongoing cost of holding the investment. Investors considering Series S or SF should weigh the introductory fee rates against the higher fees that take effect after December 31, 2028.
The takeaway
Lower fees compound over time, so checking whether a fund's performance fee applies to your series can make a measurable difference. Compare introductory fee rates against the post-promotion rates before committing new money.
What happens next
Series S and Series SF units close to new investors on December 31, 2026, or earlier if the Fund reaches $200 million, and the reduced management fees for those series end on December 31, 2028.
Further reading
For more on how fund fees affect long-term returns, see the Investing section.
More information
Fund details and fee schedules are available on the Ninepoint investment solutions website.
Source note: This article includes information reported by The Manila times.
