Toronto-based Dynamic Mutual Funds Ltd. has launched Dynamic Power American Currency Neutral Fund, aimed at investors who want exposure to the U.S. market without currency volatility. “The U.S. market is still the economic engine of the world, home to companies and industries not well-represented elsewhere,” says Simon Hitzig, Dynamic’s executive vice president of marketing. “But the currency volatility has chased a lot
of investors out of the [U.S.] market, so the idea of this fund is to solve the currency-volatility issue, while preserving access
to that great market.” The fund invests primarily in units of the underlying Dynamic Power American Growth Fund. This strategy is complemented by a currency-hedging program that links the fund’s returns to the returns of the underlying fund, eliminating U.S. dollar-currency risk. Commissions are 0%-5%,
5% and 3% for front-end, back-end and low-load sales, respectively. Redemption fees begin at 6% in Year 1 and end at zero i
n Year 7 of the DSC schedule, or 3% in the first 18 months and zero in Year 3 of the low-load schedule. Trailing commissions are 1% for front-end and low-load shares, and 0.5% for DSC shares. Management fees are 2% for A-class shares; 1% for
F-class shares. Minimum investment is $500.