Calgary-based Canoe Financial LP Monday introduced two new income-oriented mutual funds.
The new funds expand Canoe’s mutual fund line-up in the important global neutral balanced and global fixed Income categories.
The new funds, available now, are the Canoe North American Monthly Income Fund and Canoe Strategic High Yield Fund.
AEGON Capital Management Inc. (ACM) has been appointed portfolio manager for the two new funds in Canoe’s line-up. Globally, AEGON Asset Management companies are responsible for managing in excess of US$300 billion and are widely recognized for strong, consistent returns and astute risk management. In Canada, ACM manages $8.8 billion for a range of clients and has generated highly rated and ranked performance in its income-focused funds over the past ten years.
“Demand for balanced and fixed-income investment solutions is on the rise,” says Nevin Markwart, Canoe Financial’s president and CEO. “Many investors tell us they are looking for ways to generate income in retirement. Others simply prefer the reduced volatility associated with income-oriented portfolios. Canoe is excited to introduce these two global, income-oriented funds to investors and advisors across the country.”
Canoe North American Monthly Income Fund is intended to provide investors with income and long-term capital growth by investing in dividend-paying North American equities and corporate bonds. The target asset mix for the fund is approximately 50% fixed income and 50% equity securities.
Canoe Strategic High Yield Fund is designed to generate a high level of current income for investors by investing primarily in U.S. high-yield debt securities. The Fund is managed by ACM and sub-advised by AEGON USA Investment Management, LLC.
Canoe currently manages approximately $1.6 billion in assets as at Dec. 31, 2012 through its investment products.