O’Leary launches new income fund

Montreal-based O’Leary Funds Management LP has introduced O’Leary Tactical Income Fund, which aims to emphasize income generation throughout the interest rate and credit cycles by investing primarily in fixed-debt instruments, senior floating-rate loans and other floating-rate debt instruments of investment-grade and non-investment-grade Canadian and global issuers. The fund is managed by Montreal-based Stanton Asset Management Inc. and will offer unitholders access to a portfolio with more yield and lower duration risk in a period of rising rates, says O’Leary Funds. Advisor commissions are 0%-5% for front-end sales and 3% for the low-load option. Redemption fees begin at 2% for the first 18 months and end at zero after Year 3. Trailing commissions are 1% for front-end sales; and 0% for the first year of low-load sales, then 0.4% for the second year and 0.8% thereafter. Management fees are 1.7% for A-class units and 0.9% for F-class units. Minimum investment is $1,000.

(cohara@investmentexecutive.com).