I just read some analyst comments on Stock Chase that are very pertinent to anyone investing in Power Corp, Power Financial, or IGM Financial. Basically, the mutual fund industry appears to have wisenup and they started lowering their MER (Management Expense Ratio) – at least for Investor Group. You can read the announcement from IGM Financial. For mutual funds companies, like IGM (owned partly by PWF and consequently owned by POW due to the ownership structure), the MER has a direct impact on profit and therefore the stock price and long term growth. We should expect to see some adjustments in the short term.