Toronto-based Matrix Funds Management Monday announced new names for several of its funds and proposed changes to the distribution policies of certain fund shares.

Matrix U.S. Equity Fund (Corporate Class) becomes Matrix American Dividend Growth Fund (Corporate Class).

Series T shares of the following funds — Matrix Canadian Balanced Fund (Corporate Class); Matrix Monthly Pay Fund (Corporate Class); Matrix Dow Jones Canada High Dividend 50 Fund (Corporate Class); and Matrix S&P/TSX Canadian Dividend Aristocrats Fund (Corporate Class) — become Series T8 shares of the following funds — Matrix Canadian Balanced Fund (Corporate Class); Matrix Monthly Pay Fund (Corporate Class); Matrix Dow Jones Canada High Dividend 50 Fund (Corporate Class); and Matrix S&P/TSX Canadian Dividend Aristocrats Fund (Corporate Class).

Series T-F shares of Matrix Monthly Pay Fund (Corporate Class) become Series T-F8 shares of Matrix Monthly Pay Fund (Corporate Class).

In connection with the Series T8 and Series T-F8 name changes, Matrix proposes that the distribution policy for the Series T8 and T-F8 shares be amended to provide for a monthly distribution of between 7% and 9% of the net asset value per share as of December 31 of the previous year. It is anticipated that the distribution policy will be effective on receipt for the Matrix Funds’ final 2012 prospectus and annual information form, which is expected to occur no later than July 10.

Matrix notes there is no guarantee as to the amount of distributions that will be paid by the Matrix Funds, and there is no certainty that the distribution policy will be amended as proposed.