Cambridge, Ont.-based socially responsible investment firm Meritas Mutual Funds has launched of its seventh fund, Meritas Monthly Dividend and Income Fund. Meritas says it is the first retail fund in the Canadian SRI market that combines management of Jarislowsky Fraser Ltd. and the social, environmental and governance research of Jantzi Research Associates. “We launched this fund because we felt there was a need for a product that paid a monthly income, and we also wanted to add a fund that was primarily Canadian equity and actively managed,” says Gary Hawton, Meritas’ chief executive officer. Jarislowsky Fraser was chosen for its strong track record and its understanding of Meritas’ SRI mandate, Hawton says. Commissions are up to 5% for front-end, 2% for low-load sales or 4.9% for deferred sales. With the low-load option, redemption fees begin at 2.5% in Year 1 and end at zero after Year 3; for the deferred-sales charge option, fees begin at 6% in Year 1 and decline to zero after Year 6. Trailing commissions are up to 1% for front-end sales, up to 0.75% for low-load sales and up to 0.5% for deferred sales. The management fee is approximately 2.5%. No minimum investment is required.