Vancouver-based Matrix Asset Management Inc. has launched Matrix Dow Jones Canada High Dividend 50 Fund, a corporate-class fund. This fund’s objective is to match closely, net of expenses, the performance of the new Dow Jones Canada high-dividend 50 index. The fund combines traditional indexing with five equal-weighted fundamental factors that measure yield quality, and aims to provide monthly distributions to investors. The Dow Jones Canada high-dividend 50 index tracks 50 companies and income trust units that pay high dividends. Corporate-class shares allow investors with taxable accounts to defer capital gains taxes if they decide to switch into other Matrix corporate-class funds. Advisor commissions are 0%-5% for front-end sales and 3% for the low-load option. Redemption fees begin at 3.5% in Year 1 and end at zero after Year 4 for the low-load schedule. Trailing commissions are 1% for front-end sales and low-load sales. Management fees are 1.65% for A-class units and 0.65% for F-class units. Minimum investment is $500.
Dynamic launches resources fund
Toronto-based Dynamic Mutual Funds Ltd. has introduced Dynamic Strategic Resource Class, a fund with a focus on the resources sector. This fund primarily invests in resources firms, which may include oil and gas and precious metals, such as gold, silver, platinum and palladium. The fund also may invest in fixed-income securities of resources companies. Investors have the ability to switch into any available corporate-class funds in Dynamic’s Global Fund Corp. family on a tax-deferred basis. Advisor commissions are 0.5% for front-end sales; 5% for deferred sales; or 3% for the low-load option. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule, or begin at 3% in the first 18 months and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for deferred sales; and up to 1% for low-load sales. Management fees are 2% for A-class units and 1% for F-class units. Minimum investment is $500.
Vanguard launches new ETFs
Toronto-based Vanguard Investments Canada Inc. has launched a line of Canadian exchange-traded funds. Vanguard Canadian Aggregate Bond Index ETF aims to track the performance of the Barclays Capital global aggregate Canadian float-adjusted bond index; it has a management fee of 0.20%. Vanguard Canadian Short-Term Bond Index ETF follows the performance of the Barclays Capital global aggregate Canadian government/credit 1- to 5-year float-adjusted bond index, with a short-term, dollar-weighted average maturity; it has a management fee of 0.15%. Vanguard MSCI Canada Index ETF invests primarily in the largest publicly traded securities in the Canadian market; it has a management fee of 0.09%. Vanguard MSCI U.S. Broad Market Index ETF tracks the performance of the MSCI U.S. broad market equity index that measures the returns of large-cap U.S. securities; it has a management fee of 0.15%. Vanguard MSCI EAFE Index ETF invests primarily in European, Australian, Asian and Far East stocks; it has a management fee of 0.37%. Vanguard MSCI Emerging Markets Index tracks the performance of the MSCI emerging markets index; it has a management fee of 0.49%.
TDAM offers conservative funds
Toronto-based TD Asset Management Inc. has launched three funds: TD Target Return Conservative Fund, TD Target Return Balanced Fund and TD Global Low Volatility Fund. For these new funds, advisor commissions are 0%-5% for front-end sales; 5% for deferred sales; 1% for the first low-load option; or 3% for the second low-load option. Redemption fees begin at 5.5% 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 3 of the first low-load schedule; or begin at 3.5% in Year 1 and end at zero after Year 4 of the second low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for deferred sales; 1% for the first option of low-load sales; or 0.5% for the first four years of the second option of low-load sales, and 1% thereafter. Management fees are up to 0.75% for F-class units of TD Target Return Conservative Fund; up to 1% for F-class units of TD Target Return Balanced Fund; and, for TD Global Low Volatility Fund, up to 2% for A-class units and up to 1% for F-class units. Minimum investment is $500 for the two target funds and $100 for the global fund. TDAM also has launched TD Conservative Income Portfolio, a low-risk portfolio that invests primarily in other TD mutual funds and maintains an asset mix of 85% fixed-income and 15% equities. This product is available on a no-load basis only. Minimum investment is $2,000.
Compiled by Olivia Li (oli@investmentexecutive.com).