Goodman & Co., Investment Counsel Ltd. today announced the launch of the seventh series of Bank of Montreal Dynamic RetirementEdge Income Portfolios.

The deposit notes, which are available for sale until Friday, July 4, will be issued by Bank of Montreal on July 9, and are 100% eligible for registered plans.

Series 7 will meet the ongoing demand for a portfolio solution that allows investors to benefit from the growth potential of equities, a stable income stream, unique tax efficiencies, systematic asset allocation, and a fixed low annual fee, according to Goodman & Co.

The new offering builds on the success of the last six series.

The deposit notes are available in three versions.

With Current Pay Notes, monthly distributions begin immediately, at an annual rate of 6.6% of the original deposit amount, adjusted for inflation. These notes mature on July 7, 2023.

Deferred 5 Notes offer a guaranteed minimum growth of 5% per year during the accumulation period, for a total of 25%. Monthly distributions begin in year six, at an annual rate of 8.25% of the original deposit amount until $99 is distributed. These notes mature on July 9, 2030.

Deferred 10 Notes offer a guaranteed minimum growth of 5% per year during the accumulation period, for a total of 50%. Monthly distributions begin in year 11, at an annual rate of 9.9% of the original deposit amount until $99 is distributed. These notes mature on July 8, 2033.


The Series 7 deposit notes provide holders with exposure to the distributions and capital appreciation of portfolio of notional shares or units of 10 Dynamic funds: Dynamic Global Dividend Value Fund; Dynamic Power Canadian Growth Fund; Dynamic Value Fund of Canada; Dynamic Power Global Growth Class; Dynamic Global Value Fund; Dynamic Power Small Cap Fund; Dynamic Dividend Fund; Dynamic Canadian Bond Fund; Dynamic Global; Discovery Fund; and Dynamic High Yield Bond Fund.