Northwest Mutual Funds Inc today announced the introduction of two new investments into its lineup of high quality, risk managed mutual funds: Northwest Global Growth & Income Fund; and Northwest Quadrant Global Growth Portfolio.
The additions, available for sale immediately, contribute further depth to Northwest’s diverse menu of global investments.
Northwest Global Growth & Income Fund will be co-managed by Alliance Bernstein (equities) and Aviva Capital Management (fixed income). The asset mix between equities and fixed income will be approximately 80% to 20%, and the fund will strive to pay a monthly yield of 6 cents per unit or a yield of approximately 7%. Within the equity portion of fund, Alliance Bernstein will manage a concentrated portfolio of 40 to 70 equities. Within the fixed income portion of the fund, Aviva Capital has been provided a broad mandate to invest in fixed income securities they deem appropriate for the current market conditions.
Alliance Bernstein enters a new portfolio management agreement with Northwest and is one of the world’s preeminent institutional managers with over $650 billion in assets under administration and a reputation for world-class global research. Similarly, Aviva Capital is globally recognized as exceptional risk managers in the fixed income industry and currently co-manages and manages the Specialty High Yield Bond Fund and Northwest Specialty Global High Yield Bond Fund respectively.
Northwest Quadrant Global Growth Portfolio is the fifth Northwest Quadrant Portfolio introduced to market and the first that is 100% global. This portfolio will also strive to pay a monthly yield of 6 cents per unit or a yield of approximately 7%.
The portfolio is made up of the following funds:
- Northwest Global Equity Fund, 20%;
- Northwest Global Growth & Income Fund, 25%;
- Northwest US Equity Fund, 25%;
- Northwest EAFE Fund, 15%; and
- Northwest Specialty Global High Yield Bond Fund, 15%.
“At Northwest we continually monitor trends in the market and the investment needs of our advisors and unitholders.” said Michael Butler, president and COO of Northwest Mutual Funds, in a news release. “The feedback is that income generation continues to be an important investment need and that more investors were looking to diversify into global markets. These new investments help to address both of those needs and add even greater depth to our global investment lineup.”
Continued Butler, “Alliance Bernstein is an outstanding addition to our family of high end portfolio management firms. Bernstein’s value style and approach to risk management will fit nicely into Northwest’s commitment to strive for better returns with less risk.”
Northwest has approximately $3 billion in assets under administration. The fund company is wholly owned by the Desjardins Group.