(January 13 – 09:50 ET) – Credential Group, the national wealth-management arm of Canada’s credit union system, is launching four no-load mutual funds.
The Credential Income Growth Portfolio, Credential Balanced Portfolio, Credential Growth Portfolio and Credential Equity Portfolio funds are 100%-RRSP eligible. The funds are designed to offer credit union members with a proprietary family of strategic asset allocation funds, based upon funds offered by Desjardins Trust. Each fund uses assorted mutual funds and optimization models designed to maximize returns for a given level of risk.
“We’ve simplified the investment decision-making process by designing a family of funds that makes it convenient and affordable for the average investor to acquire a balanced, diversified portfolio tailored to their investment objectives, risk profile and time horizon,” says Margaret Yee, Credential Group’s vice president marketing.
The Income and Growth Portfolio is invested 65% in Desjardins income mutual funds and 35% in equity mutual funds. The Balanced Portfolio is a 50-50 split. The Growth Portfolio will be 65% invested in equity funds and 35% in income funds. The Equity Portfolio will be 100% in equity funds.
These new products come out of the agreement between the Mouvement Desjardins and the Credit Union Central of Canada announced last October. Credential also offers the Ethical family of funds.
-IE Staff