Toronto-based Invesco Trimark Ltd. has introduced AIM Global Balanced Fund for investors looking to rebuild their portfolios after the market events in 2008, the company says.

The fund will maintain an approximate asset allocation of 60% global equities and 40% conservative global fixed-income. The equities portion of the portfolio will be patterned after AIM Global Growth Class Fund and will be co-managed by Matthew Dennis, Barrett Sides and Robert Lloyd. The team uses a “quality growth” investment discipline that focuses on earnings, quality and valuation to identify and analyze potential investments. The fixed-income portfolio will be patterned after Invesco Bond Fund and managed by the Invesco WWFI team, which uses a conservative approach, investing primarily in investment-grade global government and corporate bonds. Advisor commissions for front-end sales are 0%-5%, 4.9% for deferred sales, 1% for the low-load option or 0%-4% for the lower-load 4 option. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule; begin at 2% in Year 1 and end at zero after Year 2 for the low-load schedule; or begin at 4.5% in Year 1 and end at zero after Year 4 for the lower-load 4 schedule. Trailing commissions are 1% for front-end sales and the low-load option; 0.5% for deferred sales; and 0.5% for the first four years of the lower-load 4 option, and 1% thereafter. Management fees are 2% for A-class units and 1% for F-class units. Minimum initial investment is $500, with each additional investment a minimum of $50.

Fee reductions at Mavrix

Toronto-based Mavrix Fund Management Inc. has announced temporary management and service fee reductions for both of its money market funds. This temporary action is designed to ensure investors will continue to receive a reasonable rate of return and will also result in a lower management expense ratio. The trailing service fees paid to dealers from the MER will also be temporarily reduced for both of the money market funds. The changes are in response to ongoing low short-term interest rates, says Mavrix. Funds subject to the temporary reductions are Mavrix Money Market Fund and Mavrix Multi Series Fund Ltd. Short-Term Income Series.

Changes at JovFunds

Toronto-based JovFunds Management Inc. is handing off the management duties for Jov Canadian Equity Class of Jov Corporate Funds Ltd. to its affiliate, JovInvestment Management Inc., effective Sept. 15. At the same time, JovFunds will assign management duties for Jov Bond Fund, Jov Leon Frazer Dividend Fund, Jov Leon Frazer Preferred Equity Fund, Jov Fiera Conservative Tactical Portfolio, Jov Fiera Balanced Tactical Portfolio and Jov Fiera Growth Tactical Portfolio to another affiliate, Toronto-based MGI Funds Inc. The changes are designed to create synergies within the organization and are not expected to have any material impact on the funds’ operations or expense levels as all professional, technical and support staff will remain in place, including the investment and client service teams, says JovFunds.

Strategy switch for Claymore

Toronto-based Claymore Investments Inc. has changed the investment strategy for Claymore Canadian Financial Monthly Income ETF from an actively managed approach to a passive, quantitative methodology. Toronto-based MFC Global Investment Management (Canada) will continue as investment advisors to the fund. In addition, Claymore has reduced the management fee payable to Claymore from 1% to 0.65%, with a corresponding increase in the service fee component from 0.4% to 0.75%. The total fee payable by the fund will remain at 1.4% of the net asset value of the fund.

Russell gets into the pool

Toronto-based Russell Investments Canada Ltd. has launched the Russell Canadian Dividend Pool, which offers broad diversification across two distinct investment management styles, 10 Canadian industry sectors and dozens of individual holdings. All factors are designed to provide investors with portfolio stability and risk reduction. The dividend pool features fully independent, third-party investment managers and is designed to help Canadians address the growing need to combine consistent income with longer-term capital growth, particularly during their retirement years, Russell Canada says. Foyston Gordon & Payne and Goodman & Co. Investment Counsel Ltd. (both based in Toronto) are the subadvisors for the dividend pool. Advisor commissions for front-end sales are 0%-5%, or 2% for the low-load option. Redemption fees begin at 3% in Year 1 and end at zero after Year 3 for the low-load option. Trailer commissions are 1% for front-end sales and no-load sales; and 0.5% for the low-load option. Management fees are 0.8% for F-class units. Minimum investment is $25,000.

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