AGF announces changes to Harmony Pools

Harmony Overseas Equity Pool
AGF, Barrow, Hanley, Mewhinney & Strauss, LLC and Harding Loevner LP will continue to manage the Pool, while Aberdeen Asset Management Inc. will no longer be a portfolio manager on the Pool.

Harmony U.S. Equity Pool
AGF, C.S. McKee, L.P. and Eagle Boston Investment Management, Inc. will continue to manage the Pool, while INTECH Investment Management LLC and Systematic Financial Management, L.P. will no longer be portfolio managers on the Pool.

AGF says these changes were recommended by third-party consultant Wilshire Associates following quantitative and qualitative reviews as well as quarterly due diligence calls with each manager.

“With these changes, we aim to address duplication and streamline the number of portfolio managers and strategies within each Pool. By concentrating on the optimal combinations of portfolio managers we are focused on providing strong risk-adjusted returns for our clients,” says Kevin McCreadie, president and chief investment officer, AGF Investments Inc.

Fund closing

AGF also announced today that AGF Inflation Focus Fund will be terminated on July 17.

Effective today, units of AGF Inflation Focus Fund will no longer be available for purchase.

The decision to close the fund was driven by a combination of the small number of unitholders, relatively low assets and the cost associated with maintaining such a small fund, AGF says.

Any unitholders who hold AGF Inflation Focus Fund in an AGF registered account and who remain in the fund on the termination date will be transferred into the front-end (FE) mutual fund series of AGF Canadian Money Market Fund on July 17.

Unitholders will not be required to pay any redemption fees or sales charges.

AGF Investments is a unit of AGF Management Ltd. (TSX:AGF.B).