ClaringtonFunds Inc. has launched the Clarington U.S. Dividend Fund, managed by TCW Investment Management Co., a leading U.S.-based money manager.
“The Clarington U.S. Dividend Fund will be Canada’s first U.S. Dividend Fund with a monthly cash distribution,” said Eric Frape, vp, product management at Clarington, in a release.
The company says the fund’s objective will be to achieve a steady flow of dividend income and capital enhancement, consistent with prudent investment management, by investing primarily in equity securities of U.S. companies that have a record of paying dividends.
It will be available with both Canadian and U.S. dollar purchase options and will pay an anticipated 6¢ monthly distribution with an initial NAV of $10per unit.
The distribution paid by the fund may partially consist of a return of capital with the potential to provide tax deferral until units are sold.
The minimum initial investment is $500, which applies to both Canadian and U.S.-dollar investments.
“We are delighted to partner with ClaringtonFunds on the new Clarington U.S. Dividend Fund and to have the opportunity to apply our highly-disciplined, analytically-driven investment process on behalf of Canadian investors,” said Diane Jaffee, managing director, U.S. equities for TCW, in a release.
Clarington launches U.S. dividend fund
Fund managed by TCW features monthly cash distribution
- By: IE Staff
- September 16, 2004 September 16, 2004
- 08:50