(January 11 – 15:30 ET) – Standard Life of Montreal is adding four new RSP clone funds and two new funds to it’s lineup. A preliminary prospectus has been filed with regulators.
The RSP-eligible funds, include: Active U.S. Equity RSP, International Equity RSP, U.S. Equity Index RSP. The new funds will be Healthcare &Technology and Corporate Bond funds. Standard requires a minimum $5,000 initial investment. For those already holding Standard funds the minimum if $1,000.
The RSP funds will invest in various combinations of index futures and other derivatives. The Healtcare & Technology fund will invest in securities of healthcare, bio-technology, information technology and communication technology stocks. The Corporate Bond fund will concentrate of corporate bond issuers with a minimum rating of BBB.
Funds carry a front-end load of 5% or a deferred sales option. Trailer fees are 1% for those funds sold front-end, and 50 basis points for back end sales.