Lakeview Asset Management Inc. announced Tuesday that it will be renaming four funds in conjunction with other changes planned for its lineup.

The name changes affect the four funds for which KBSH Capital Management Inc. is the portfolio advisor and are designed to strengthen the distinct identity of the group and, in certain cases, to better reflect the mandates of the funds.

Lakeview KBSH Small Cap Explorer Fund will be renamed Knight Bain ‘Small Cap Fund.

Lakeview KBSH Large Cap Explorer Fund will be renamed Knight Bain ‘Pure Canadian Equity Fund.

Lakeview KBSH Equity Income Explorer Fund will be renamed Knight Bain ‘Diversified Monthly Income Fund.

Lakeview KBSH Premium Bond Explorer Fund will be renamed Knight Bain ‘Corporate Bond Fund.

The changes will be effective on August 1.

The other three Lakeview funds will continue under the Lakeview Disciplined Leadership banner. The portfolio advisor for Lakeview Disciplined Leadership Canadian Equity Fund, Lakeview Disciplined Leadership U.S. Equity Fund and Lakeview Disciplined Leadership High Income Fund is Barometer Capital Inc.

Lakeview has also proposed a series of other changes that are subject to the approval of unitholders in the affected Lakeview mutual funds at meetings scheduled for Toronto on July 13. Some of the details of these changes were previously announced, on May 29.

Lakeview is proposing to:

  • Implement fixed administration fees, which will result in more ‘transparent and predictable costs for investors in the funds. Under ‘this plan, Lakeview will bear all of the future operating expenses of ‘the funds (other than certain taxes, brokerage and borrowing costs ‘and certain new governmental fees) in return for the fixed annual ‘administration fees of 0.20% to 0.22%. These levels generally are ‘lower than the funds’ comparable expense ratios in 2006.
  • Discontinue charging performance fees on Lakeview KBSH Large Cap ‘Explorer Fund and Lakeview KBSH Small Cap Explorer Fund.
  • Change the investment objectives of Lakeview KBSH Large Cap Explorer ‘Fund (to invest primarily in equity and equity-related securities of ‘Canadian companies instead of North American companies) and Lakeview ‘KBSH Equity Income Explorer Fund (to invest in a combination of ‘equity and fixed-income securities of companies located anywhere in ‘the world instead of North American equities).
  • Change the management fee of KBSH Equity Income Explorer Fund to ‘reflect the increased costs of operating the fund as its mandate ‘changes from a North American equity fund to a diversified global ‘fund investing in equity and fixed-income securities worldwide. Under ‘the proposal, the management fee will rise to 2.00% from 1.75% for ‘Series A units and to 1.0% from 0.75% for Series F units.

Lakeview expects to mail the information circular to unitholders by June 22. If approved, all changes also will take effect on or about August 1.

Lakeview is an investment management company offering seven mutual funds under the Lakeview KBSH and Lakeview Disciplined Leadership banners. Lakeview is controlled by CI Financial Income Fund.