AIM Trimark Investments today announced changes to the name, portfolio management team and investment strategies of AIM Canada Income Class. Effective December 15, the fund will be renamed Trimark Diversified Income Class.

The renamed fund will be managed in Toronto by members of the Trimark team consisting of Don Simpson, Rory Ronan, Rex Chong and Anthony Imbesi.

It will use a wider range of investment vehicles to capitalize on the different opportunities that present themselves across a variety of markets.

Trimark Diversified Income Class’s investment objective will remain unchanged. It seeks to generate steady income by investing mainly in shares of established Canadian companies and high-quality royalty and income trusts.

According to AIM Trimark, the fund management team will look for companies whose competitive advantages provide opportunities for long-term growth, have the potential to generate strong cash flow, possess strong management and are believed to be undervalued in relation to their intrinsic value.

The fund may also invest in REITs and income trusts with characteristics similar to those noted above and in foreign and domestic fixed income securities, including high yield, investment grade, preferred shares and convertible debt. It also may write covered call options on equities held in the portfolio to generate income, and may invest up to the maximum allowable foreign content limit of its assets in foreign securities.

“These changes allow us to offer an income product with investment strategies that provide flexibility, yet still apply the reliable Trimark investment discipline investors have come to count on,” said AIM Trimark chief investment officer and executive vp, Patrick Farmer.

The portfolio management team brings a combined 41 years of industry experience. Simpson and Ronan have worked together for the past four years on the Trimark Canadian equity team. Ronan is the current portfolio manager on Trimark Canadian Resources Fund.

Chong, who is currently the lead manager of the fixed-income team, will share his knowledge and expertise with Simpson and Ronan by managing the fixed-income portion of the fund. Imbesi will co-manage the fixed-income portion of the Fund with Chong.