First Defined Portfolio Management Co. has announced the launch of a new mutual fund providing Canadian investors with access to foreign equities.

The First Trust Global Capital Strength Portfolio fund will be advised by an investment management team at First Trust Advisors, L.P., an affiliate of First Defined Portfolio Management Co.

The fund is designed to allow investors to participate in the long-term growth potential of foreign companies. Its objective is to provide long-term capital appreciation by investing primarily in equity securities of mid- to large-capitalization global issuers traded on a U.S. exchange or market. Equity securities include common shares and American Depository Receipts of global companies.

The fund is suitable for investors who consider growth, through capital appreciation, an important investment objective. To recognize a reasonable rate of return, investors should be prepared to invest for a period of at least three years, the company said. It considers the fund suitable for investors with a moderate risk tolerance level.

To achieve its investment objective, the fund uses a multi-step quantitative selection process to identify its investible universe of securities. The selection process is designed to identify companies that offer an attractive debt to equity ratio and strong operating profit, among other things.

IE