Toronto-based AGF Investments Inc. said Friday it is reducing management fees on select fee-based funds (Series F) to help a growing number of advisors as they transition to a fee-based business.
“This is a growing business segment and AGF is lowering our pricing to ensure we are competitively positioned for this evolution towards a fee-based business model,” said Gordon Forrester, executive vice president, product and marketing and head of retail, AGF Investments Inc.
Effective April 1, the management fees were lowered to 0.90% on the following Series F funds: AGF Diversified Income Class; AGF Diversified Income Fund; AGF Global Aggregate Bond Fund; and AGF Tactical Income Fund.
AGF also reduced fees on 12 Series F funds 10 to 55 basis points in 2014. Series F is offered on a broad selection of core investment strategies enabling advisors to construct well-diversified and efficient portfolios.
Gold Label offering expands
AGF also announced it is expanding its program for affluent investors with additional Series Q (individually priced) and Series W (fee-based) funds.
Launched in 2012, AGF Gold Label provides affluent investors with access to reduced pricing based on the amount they invest as well as the opportunity to reduce pricing further through household and account aggregation.
Acuity portfolio managers join AGF
Effective immediately, Martin Grosskopf and David Stonehouse will become portfolio managers of AGF Investments Inc. as part of the integration of the AGF and Acuity businesses.
Grosskopf manages AGF Clean Environment Equity Fund, while Stonehouse manages AGF Global Convertible Bond Fund, AGF Fixed Income Plus Fund, AGF Diversified Income Fund and AGF Diversified Income Class.
Andy Kochar becomes an associate portfolio manager for AGF Investments Inc.
Risk ratings change
Following an annual review based on the approach recommended by the Fund Risk Classification Task Force of The Investment Funds Institute of Canada, AGF has determined that it is appropriate to change the risk ratings of three funds effective April 17.
The rating for AGF Canadian Large Cap Dividend Fund changes from “Low to Medium” to “Medium”. AGF Canadian Large Cap Dividend Class changes from “Low to Medium” to “Medium”. AGF European Equity Class changes from “Medium” to “Medium to High”.
No material changes have been made to the investment objectives or strategies of the three funds.
AGF Investments Inc. is a subsidiary of AGF Management Ltd. (TSX:AGF.B).