Toronto-based AGF Investments Inc. announced on Wednesday security-holder approval of a series of changes designed to simplify and strengthen its product suite.
The following mergers have been approved and will take place on or about May 23, 2014:
• AGF Global Government Bond Fund into AGF Global Aggregate Bond Fund
• AGF All Cap 30 Canadian Equity Fund into AGF Canadian Stock Fund
• AGF Conservative Asset Allocation Fund into AGF Canadian Asset Allocation Fund
• AGF High Income Fund into AGF Monthly High Income Fund
• AGF High Income Class into AGF Diversified Income Class
• AGF Social Values Balanced Fund into AGF Traditional Income Fund
• AGF Social Values Equity Fund into AGF Global Equity Fund
Proposed investment objective changes for AGF Elements Global Portfolio, AGF Elements Global Portfolio Class and AGF Income Focus Fund were also approved and are effective on or about April 17. These changes will provide the portfolios with greater investment flexibility and choice.
In addition, the firm is reducing the management fees on select funds that are sold through its fee-based series (Series F). Effective April 1st, the management fee has been lowered on Series F of the following funds:
|
Fund |
Revised Mgmt Fee |
|
AGF American Growth Class |
1.00% |
|
AGF European Equity Class |
1.00% |
|
AGF Global Equity Class |
1.00% |
|
AGF Global Equity Fund |
1.00% |
|
AGF Global Select Fund |
1.00% |
|
AGF International Stock Class |
0.90% |
|
AGF Canadian Asset Allocation Fund |
0.90% |
|
AGF Monthly High Income Fund |
0.90% |
|
AGF Emerging Markets Bond Fund |
0.90% |
|
AGF Fixed Income Plus Fund |
0.70% |
|
AGF High Yield Bond Fund |
0.90% |
|
AGF Total Return Bond Fund |
0.90% |