(November 1 – 16:30 ET) – Merrill Lynch Investment Managers Canada Inc. is launching three new funds.
Two of the funds, Merrill Lynch Triple A 50 Fund and Merrill Lynch Triple A 50 RSP Fund, will employ an active asset allocation approach to take advantage of evolving market conditions.
“With today’s uncertain market, investors will appreciate the active asset allocation component of this fund and the fact that it can make such sweeping adjustments. For example, these funds may be more highly invested when markets are favourable and then may preserve capital, by rapidly selling equities, when the market outlook is weak. When this is done consistently over a number of years, investors can benefit,” said Ben MacInnis, president & CEO.
The management team for the funds includes Andrew Dalton as CIO and head of asset allocation, Magnus Spence as business manager and John Robson as portfolio manager. Similar funds managed by the same investment team were launched in international markets on May 2, and have attracted more than US$1 billion to the funds.
The Merrill Lynch Global Growth RSP Fund is designed to link to the global investment portfolio of the Merrill Lynch Global Growth Fund. The underlying fund invests in medium to large companies that the managers believe show potential for above average levels of growth.
“Over the past year, there has been more than 32% growth in the underlying fund”, said MacInnis. “The lead portfolio manager, Lawrence Fuller, has more than 30 years of investment experience and has been managing funds with Merrill Lynch since 1992.
According to MacInnis Fuller has achieved outstanding performance with two Merrill Lynch funds available in the United States.
-IE Staff