(Toronto, Sept. 14) –
Fidelity Investments Canada Limited
has announced that it will launch
two new 100% RSP eligible,
globally-focussed, mutual funds on
September 16, 1999.
The Fidelity RSP Global Asset
Allocation Fund and Fidelity RSP
International Portfolio Fund, says
Fidelity, are only suitable for
investors who have already
maximized the 20% foreign property
limits in their registered
retirement savings portfolios.
The new funds will be managed by
Dick Habermann and will use
forwards contracts to qualify for
100% Canadian content eligibility.
Both funds will invest primarily
in Canadian money market securities,
as well as in their respective
underlying funds.
The funds already have
regulatory approval. “Although
demand for these types of mutual
funds is great, we took the time
to obtain an advance income tax
ruling from Revenue Canada
confirming these new funds do not
violate existing foreign property
limits,” says Stephanie Nacawa,
Fidelity’s vice-president,
research and development.
-IE Staff
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