Dynamic Funds Tuesday announced the launch of Dynamic Aurion Total Return Bond Fund, a fixed income fund that seeks to provide income and capital returns from an actively managed diversified portfolio of primarily Canadian fixed income securities.

A tax-efficient corporate class version of the fund is also available for non-registered accounts.

The fund’s lead portfolio manager, Christine Horoyski, combines top-down analysis of economic conditions with fundamental bottom-up credit research while pursuing risk adjusted returns through active security selection, sector diversification, yield curve and duration management and portfolio diversification around interest rate volatility.

The fund will invest primarily in investment grade corporate bonds, but may also invest in other forms of debt and fixed-income securities and debt-like instruments including, but not limited to:
– federal and provincial government bonds;
– real return and inflation protected bonds;
– certain high yield bonds; and
– other securities with a high level of current income such as income trusts, real estate investment trusts, convertible bonds and hybrid securities.

The trust version of the fund currently pays a monthly distribution with an initial yield of 5%, which is fixed but not guaranteed and may change at any time at the manager’s discretion.

Horoyski is senior vice president and portfolio manager, fixed income at Aurion Capital Management Inc. She has over 16 years of experience managing fixed income portfolios on an active basis.

There are two other Dynamic mutual funds sub-advised by Aurion including Dynamic Aurion Tactical Balanced Class co-managed by Horoyski. Aurion is 60% owned by DundeeWealth Inc. (TSX:DW). Dynamic Funds is a division of Goodman & Company, Investment Counsel Ltd., a wholly owned subsidiary of DundeeWealth Inc.