Goodman launches Dynamic global fund/
Toronto-based investment firm Goodman & Co. Investment Counsel Ltd. has launched Dynamic Global Value Balanced Fund, which will invest in bonds and stocks around the world. The fund does not have a fixed asset mix, which will allow managers to follow the most attractive valuations, the company says. The fund’s equity component will be managed by Goodman’s equities specialist, David Fingold; Barry Allen, founder of Marret Asset Management Inc., will manage the high-yield bond component. “With this fund, investors can participate as stock markets rise, while bonds help to safeguard their portfolios against stock market downturns,” Fingold said in a news release. Front-end commissions are up to 5%. Deferred sales commissions are 5%, with a 0.5% trailer; or for low-load sales, 3%. Redemption fees begin at 6% in Year 1 and end at zero after Year 7 of the DSC schedule, or 3% in the first 18 months and zero after Year 3 of the low-load schedule. Management fees are 2% for A- and T-class units, or 1% for F-class units. Minimum investment is $500.
Empire’s new global dividend growth seg fund
Empire Life Insurance Co. has launched Empire Global Dividend Growth Segregated Fund, which will invest primarily in mid- to large-cap equities with dividend-paying opportunities. The fund is aimed at both investors who do not currently have global exposure in their portfolios, as well as those who hold traditional global funds, the company says. Advisor commissions are 1%-5%. Trailers range from 0.1% to 1%, depending on the investment program in which the units are sold. Investment minimums vary.
Ethical Funds names new subadvisor
Vancouver-based socially responsible investing firm Ethical Funds Co. has added Calgary-based QVGD Investors Inc. as a subadvisor to Ethical Canadian Dividend Fund. QVGD joins the fund’s current manager, Highstreet Asset Management Inc. QVGD and Highstreet will each manage approximately 50% of the portfolio’s assets. “Combining QVGD’s fundamental, bottom-up investment style with the quantitative style of Highstreet will offer investors the benefit of a risk-management discipline and the opportunities that come from bottom-up research and analysis,” Ethical Funds’ president and CEO, Don Rolfe, said in a release. The changes come into effect June 11.
Russell adds LifePoints Balanced Portfolio
Russell Investment Group recently added LifePoints Balanced Portfolio to its product lineup; it is aimed at investors seeking a moderate-risk, diversified investment, the company says. The portfolio will be split between fixed-income and equities, and will feature a 6% distribution option. LifePoints Balanced joins a lineup that includes LifePoints Balanced Income Portfolio, LifePoints Balanced Growth Portfolio, LifePoints Long-Term Growth Portfolio and LifePoints All Equity Portfolio. Front-end commissions are up to 5%, with a 1.35% trailer, or 2.5% for low-load sales, with a trailer beginning at 0.5% for units sold within the past three years and 1.25% for units sold more than three years ago. Redemption fees begin at 3% in Year 1 and end at zero after Year 3. Management fees are 2.35%, or 0.95% for F-class units. Minimum investment is $5,000.
RBC launches deposit notes
RBC Investments has introduced RBC AIM Trimark Global Balanced Deposit Notes, Series 1 and 2. The notes are intended for risk-averse investors looking for exposure to global markets, the company says. The notes are principal-protected and linked to the performance of Trimark Global Balanced Fund and, potentially, bonds. Series 1 notes provide monthly coupons and Series 2 notes provide monthly partial principal repayments, both equivalent to 5.04% of the fund holdings in the portfolio. The notes will be sold for $100 a unit until June 29, 2007, and will mature on Jan. 5, 2015. Advisor commissions are 5%, with a 0.25% trailer. Redemption fees begin at 6.95% in Year 1 and end at zero after Year 3. The portfolio fee is 2.45%. Minimum investment is $5,000.
Sceptre proposes changes to two funds
Toronto-based Sceptre Investment Counsel Ltd. is proposing several changes to both Sceptre Income & Growth Trust and Sceptre Income & High Growth Trust. The proposed changes, which unitholders will vote upon in June, include: expanding the funds’ investment strategy to include additional asset classes and a wider range of allowable investments within those asset classes; calculating and disclosing the funds’ net asset value daily instead of weekly; reducing management fees to 1.05% from 1.10%; merging the funds and converting them to an open-ended mutual fund; delisting the funds’ units from the Toronto Stock Exchange to reduce costs; appointing Return on Innovation Management Ltd. as trustee and manager; and introducing seven new series of the merged fund, which will offer distribution and management fees.
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Goodman launches Dynamic global fund/