Canoe Financial launches five new funds

Canoe now offers its own portfolio management expertise along with that of AEGON and its existing exclusive sub-advisory partner, Haber Trilix.”

In less than a year, Canoe Financial has grown its product capabilities from a four product line to its current broad offering of 17 different types of investment products from leading investment managers. It currently manages approximately $1.6 billion in assets through its investment products

Canoe adds high performance income manager

AEGON Capital Management Inc. has been appointed sub-advisor for three of the five new funds in Canoe’s ‘GO CANADA!’ line-up. The AEGON managed funds are: Canoe Bond Advantage Class; Canoe Enhanced Income Class; and Canoe Equity Income Class.

Globally, AEGON companies are responsible for managing more than US$500 billion and are widely recognized for strong consistent returns and astute risk management. In Canada, AEGON manages $8.2 billion for various clients and has generated top-decile performance in their income-focused funds over the past nine years.

“The products AEGON will exclusively manage for Canoe have excellent long-term records,” says Nevin Markwart, president and CEO of Canoe Financial. “We are excited at the prospect of being able to offer these new income-oriented funds at a time when income is what so many Canadians are seeking.”

The objective of Canoe Bond Advantage Class is to provide long-term stable growth and income for its investors by investing primarily in corporate fixed income securities from Canadian issuers. The majority of portfolio assets are expected to be invested primarily in investment-grade corporate bonds. The fund is managed by AEGON’s head of fixed Income, Marc Goldfried, and his team.

Canoe Enhanced Income Class is intended to provide investors with income and the potential for capital appreciation. The target asset mix for the fund is approximately 80% fixed income and 20% equity securities. The fund is also managed by AEGON’s Goldfried and his team.

Canoe Equity Income Class is managed by AEGON’s head of equities, Stephen Carlin and his team. To achieve its objective of generating capital appreciation and steady monthly distributions, the target asset mix for the fund is approximately 80% equity and 20% fixed income securities.

The three funds are designed to mirror existing AEGON mutual funds which have generated sector-leading, top-decile performance over the past nine years. The AEGON imaxx Canadian Bond Fund was ranked third among 274 competing funds in 2010, while the AEGON imaxx Fixed Pay Fund, which has a similar mandate to the Canoe Equity Income Class, was ranked fourth among 212 funds in its sector.

Canoe Energy Income Class

With an objective of generating income and long-term capital growth for investors, Canoe Energy Income Class invests primarily in a mix of equity and fixed income securities of companies in the Canadian oil and natural gas sector and their suppliers. It is managed by Canoe Financial senior portfolio manager and partner, Rafi Tahmazian, who manages Canoe’s EnerVest Natural Resourc e Fund and Canoe Canadian Energy Class Fund.

Canoe Capital Appreciation Class

Canoe Capital Appreciation Class is designed for opportunistic, long-term capital growth through investment primarily in Canadian small and medium -capitalization companies. It may also take advantage of opportunities it sees in foreign equities and other potential investments. The fund is managed by James Rife and Bob Haber of Haber Trilix Advisors, LP, which is the exclusive sub-advisor to seven of Canoe’s investment funds.