(August 23 – 17:15 ET) – Assante Corp. is reporting a host of changes to its Artisan portfolios.

The changes were formally approved by Artisan unitholders in Winnipeg on August 17. Assante says that the changes, “will augment Artisan portfolios’ ability to meet clients’ long-term financial needs.”

The changes include revisions of investment objectives, name changes, mergers and tax status changes. The Artisan Canadian Equity portfolio becomes the RSP Maximum Growth portfolio; the International Equity portfolio will be merged with the U.S. Equity portfolio to become the Maximum Growth portfolio; and the Global Fixed Income portfolio becomes the RSP Global Advantage portfolio. Artisan Conservative and RSP Conservative will be merged, continuing as merely Conservative, and the same will happen with the Most Conservative portfolios. The new objectives take effect as of August 18 for the merged portfolios, and the others take effect September 30.

Other changes to the Artisan portfolios are also planned. Certain of the RSP-eligible Artisan Portfolios will increase their real foreign exposure and diversification given the recent changes to applicable Canadian tax laws. Additional underlying funds are being included in the portfolios order to achieve better diversification within the different asset class categories. Some of the dividend-focused Canadian equity funds are being reduced to more effectively capture exposure to the Canadian equity asset class.

Some of the underlying funds that focus on investment in mid-cap Canadian equity are being reduced to better manage the risk exposure of the Canadian equity asset class. Certain of the Artisan Portfolios are being simplified by reducing the number of underlying funds contained in the portfolios. Underlying funds are being excluded due to underperformance relative to their respective benchmarks or a change in their fundamental investment objective. Some of the investment portfolios are being adjusted to provide regional exposure consistent with recognized world market indices. These portfolio changes will be implemented as soon as is practical.
-IE Staff