Toronto-based CI Investments Inc. has launched Signature Diversified Yield Fund, which offers enhanced yields and access to high-yielding asset classes. The fund provides investors the opportunity to achieve tax-efficient returns through exposure to a portfolio of fixed-income and high-yielding equity securities throughout the world. These include high-yield corporate bonds, real estate investment trusts and other securities in the real estate, infrastructure and telecommunications sectors. These high-yield securities are generally not accessible to non-institutional Canadian investors, CI Investments says, and are suitable options for investors seeking an alternative to holding cash but who remain concerned about volatility in the equities markets. Signature Diversified Yield Fund will pay monthly distributions at an initially targeted rate of 6% a year. The fund is also available as Signature Diversified Yield Corporate Class, which will not pay a monthly distribution but offers the tax benefits of the CI corporate-class structure. Advisor commissions for front-end sales are 0%-5%; 5% for deferred sales; or 2% for the low-load option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 7 for the regular DSC schedule; or begin at 3% in Year 1 and end at zero after Year 3 for the low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for the first seven years of deferred sales and 1% thereafter; or 0.5% for the first three years of low-load sales and 1% thereafter. Management fees are 1.9% for A-class units and 0.9% for F-class units. Minimum investment is $500.

Claymore launches bond ETF

Toronto-based Claymore Investments Inc. has introduced Claymore Advantaged Canadian Bond ETF, which seeks to provide low-cost, tax-efficient exposure to a diversified Canadian bond portfolio. The return of the fund is based on the price and performance of the DEX DLUX capped bond index, net of fees and expenses. The index is designed to track investment-grade Government of Canada and Canadian corporate bonds, with target exposure allocations of 60% and 40%, respectively. The fund will receive exposure to the bond securities underlying the index through the use of a forward agreement with TD Global Finance, a subsidiary of Toronto-Dominion Bank.

Invesco offers the best of both worlds

Toronto-based Invesco Trimark Ltd. is offering a new lineup of PowerShares mutual funds that combine many of the key features of ETFs trading on U.S. exchanges with those of mutual funds offered in Canada. The new funds offered include PowerShares FTSE RAFI Canadian Fundamental Index Class, PowerShares Canadian Dividend Index Class, PowerShares Global Agriculture Class, PowerShares Global Gold and Precious Metals Class, PowerShares Global Water Class, PowerShares Global Clean Energy Class, PowerShares FTSE RAFI Emerging Markets Fundamental Class and PowerShares Golden Dragon China Class. The funds seek to outperform traditional market-capitalization-weighted benchmarks by using indexing strategies. They offer investors access to global regions and niche markets that may be difficult or expensive to access through traditional mutual funds. Advisor commissions for front-end sales are 0%-5%. Trailing commissions are 1% for front-end sales. Management fees are 1.55% for A-class units and 0.55% for F-class units of PowerShares FTSE RAFI Canadian Fundamental Index Class; 1.5% for A-class units and 0.5% for F-class units for PowerShares Canadian Dividend Index Class; and 1.05% for A-class units and 0.05% for F-class units for PowerShares Global Agriculture Class, PowerShares Global Gold and Precious Metals Class, PowerShares Global Water Class, PowerShares Global Clean Energy Class, PowerShares FTSE RAFI Emerging Markets Fundamental Class and PowerShares Golden Dragon China Class. Minimum investment is $2,000.

CIBC gives birth to Renaissance fund

Toronto-based CIBC Asset Management Inc. has unveiled Renaissance Corporate Bond Capital Yield Fund. This fund offers investors exposure to higher-yielding corporate bonds, along with tax-efficient monthly distributions. The fund seeks to generate these returns primarily through exposure to its reference fund, Renaissance Corporate Bond Fund. The corporate-bond mandate of the reference fund is managed by CIBC Global Asset Management Inc. and uses both a top-down and bottom-up analysis of a combination of fundamental and technical factors. The portfolio is diversified by industry group and credit ratings. Advisor commissions for front-end sales are 0%-5%; 5% for deferred sales; and 1% for the low-load option. Redemption schedules begin at 5.5% in Year 1 and end at zero after Year 6 for the regular DSC schedule; or begin at 1.25% in Year 1 and end at zero in Year 3 for the low-load schedule. Trailing commissions are 0.75% for front-end sales; 0.25% for deferred sales; and 0.5% for low-load sales. Management fees are 0.5% for A-class units and 0.75% for F-class units. Minimum investment is $500.

@page_break@Compiled by Clare O’Hara (cohara@investmentexecutive.com).