The Ethical Funds Company announced late Friday that QVGD Investors Inc. would be added as a sub-advisor to Ethical Canadian Dividend Fund.

Both QVGD and Highstreet Asset Management Inc., the current portfolio manager of the fund, will become sub-advisors to Ethical Funds Inc. who will assume the role of portfolio manager. QVGD and Highstreet will each manage approximately 50% of the portfolio 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,” said Don Rolfe, president and CEO, The Ethical Funds Company, in a news release. “This style diversification aims to provide the fund with decreased risk and better investment returns over an economic cycle,” he added.

QVGD, well known for its award winning small cap equity management, also successfully manages a portfolio of dividend-paying, growth stocks. They use a fundamental research approach, employing a bottom-up stock selection process.

Highstreet has a proven strategy for managing Canadian dividend portfolios. They use a quantitative approach evaluating companies based upon growth, yield, quality, and risk factors.

The changes will come into effect on or about June 11.