Toronto-based NEI Investments, a division of Northwest & Ethical Investments LP, has launched NEI Global Strategic Yield Fund, which is designed to provide income and long-term capital appreciation through a diversified mix of yield-generating equities and income investment opportunities. The fund will focus on yield generation from four sources: investment-grade bonds; equities’ dividends; covered calls; and high-yield bonds. Daniel Solomon, NEI’s chief investment officer, and Jeremy Peng, director and portfolio manager with NEI, will manage the fund in-house. Advisor commissions are 0%-5% for front-end sales. There is no commission for the deferred sales or low-load option at the time of purchase. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 of the regular DSC schedule; or begin at 1.5% and end at zero after Year 2 for low-load 1 schedule; or begin at 3% in Year 1 and end at zero after Year 3 for the low-load 2 and 3 schedules. Trailing commissions are up to 1% for front-end sales, up to 0.5% for deferred sales, up to 1% for low-load sales option 1 and up to 0.5% during the first three years of the low-load sales options 2 and 3. Management fees are 1.75% for the A-class units and 0.75% for the F-class units. Minimum investment is $500.
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