Montreal-based Gestion Férique, manager of Férique Funds, Tuesday announced the launch of its 11th mutual fund, Férique Balanced Growth Fund, created on February 20.
The new fund is available to Quebec clients through Services d’investissement Férique advisors. Like all Férique products, it is offered to engineers and engineering graduates, their families and their businesses.
The new fund is the company’s third balanced fund. Compatible with a low to medium risk tolerance, it is designed for investors with a slightly more aggressive risk profile who are investing for the medium or long term.
The new fund seeks to maximize long-term capital growth by a policy of diversification among different types of investments. To that end, it invests mainly in mutual funds exposed to Canadian and foreign equities, bond securities and money market securities. The strategy calls for a long-term target portfolio comprising 70% equities and 30% fixed-income securities. It will invest in units of five existing Férique funds — Bond (28% of the portfolio), Equity (25%), American (20 %), European (15%) and Asian (10%) — as well as in money market securities (2%).
The new fund is available for a minimum investment of $500 (or $50 for automatic investments) and is eligible to be held in RRSP, RRIF, RESP, DPSP, LIRA, LIF, LRIF and TFSA accounts. In addition, its management fee of barely 1.1% is, like the fees for all Férique Funds, among the lowest in the industry.
Férique Funds have approximately $1.9 billion in assets under management and more than 21,000 clients.