AGF Investments Inc. Monday announced a strategy and portfolio management change to AGF Monthly High Income Fund.

Effective May 3, AGF is enhancing the fund by changing the strategy to deliver higher yield. The new strategy will focus on providing a high level of income and long term capital growth through investment in a diversified portfolio of fixed income and income-oriented equity securities. This change will allow the fund to shift from the current 70/30 equity/bond asset mix to a more flexible asset allocation mix. As well, the fund will now strive to achieve an annual distribution of 7 % for investors.

AGF will now be the sole portfolio manager of the fund effective immediatedly. Peter J. Frost, AGF Investments Inc. vice president and portfolio manager is also being added to the fund, which already includes Tristan Sones and Tom Nakamura, portfolio managers and members of the firm’s fixed income team.

IE