Toronto-based AGF Investments Inc. Wednesday announced a series of changes to simplify and strengthen its product lineup.
“As part of the annual review of our product lineup, we are making changes to improve efficiencies and address the product needs of our clients,” said Gordon Forrester, executive vice president, product and marketing and head of retail, AGF Investments Inc.
The following fund name and strategy changes will take place, effective immediately:
- AGF Global Aggregate Bond Fund has been renamed AGF Global Bond Fund; and
- AGF Clean Environment Equity Fund has been renamed AGF Global Sustainable Growth Equity Fund.
To provide investors with greater transparency, the strategy for AGF Global Sustainable Growth Equity Fund has changed to reflect the fund’s mandate of supporting sustainability themes, including not investing in certain sectors such as fossil fuel producers.
As well, the AGF Asset Allocation Committee has conducted an initial review of the asset allocation for AGF Emerging Markets Balanced Fund and AGF World Balanced Fund. As a result, the committee has recommended that the funds move from a static asset allocation to a dynamic asset allocation.
With the AGF Asset Allocation Committee reviewing and recommending the asset allocation of AGF World Balanced Fund, AGF International Advisors Company Limited is being removed as portfolio advisor of the fund.
AGF will remain the portfolio manager on the fund with Stephen Way, senior vice president and portfolio manager, managing the equity portion, and Jean Charbonneau, senior vice president and portfolio manager, managing the fixed-income portion.
Securityholder meetings announced for June 25
AGF also announced special securityholder meetings on June 25, to vote on the proposed mergers of the following funds:
- AGF Traditional Balanced Fund into AGF Traditional Income Fund; and
- AGF Canadian Resources Class into AGF Global Resources Class.
AGF Traditional Income Fund will offer a lower MER to investors of AGF Traditional Balanced Fund. As well, these mergers are a part of an overall product review that aims to eliminate duplicate fund offerings and provide investors with a simplified product lineup that is easier to understand.
Subject to securityholder and regulatory approval, the mergers will take effect on June 26.
AGF Investments is a unit of AGF Management Ltd. (TSX:AGF.B).