Acuity Funds Ltd. today introduced a new dividend fund to accommodate a growing demand for distribution paying investments.

Acuity Dividend Mutual Fund invests primarily in high-quality Canadian and foreign dividend paying common and preferred shares. Portfolio selection will emphasize dividend-paying companies with financial strength, proven management, proprietary/strategic advantages, and favourable valuation levels in relation to their potential.

The fund’s asset allocation range is 80% to 100% dividend paying common equities and 0% to 20% preferred stocks. The initial annualized distribution of 2.4% equates to a quarterly distribution of 6¢ per unit.

The fund is available in class A and class F Units. Class A units may be purchased under the initial sales charge, level load or the deferred sales charge options.

Acuity Investment Management Inc. currently manages approximately $6.7 billion in assets on behalf of pension funds, foundations and high-net-worth individuals, including 14 Acuity Pooled Funds, 11 Acuity Mutual Funds, three Acuity Clean Environment Funds, two Acuity Social Values Mutual Funds, and four Acuity closed end funds.