Goodman & Co., Investment Counsel Ltd., the manager of Dynamic Funds, Monday announced the launch of the eleventh and twelfth series of Bank of Montreal Dynamic RetirementEdge Income Portfolios.

The deposit notes will be available until Friday, July 24. They will be issued by Bank of Montreal on July 29 and are 100% eligible for registered plans and tax-free savings accounts.

The deposit notes provide holders with exposure to the distributions and capital appreciation of a portfolio of notional shares or units of 11 Dynamic funds:
• Dynamic Focus+ Equity Fund;
• Dynamic Power Canadian Growth Fund;
• Dynamic Global Value Fund;
• Dynamic Global Discovery Fund;
• Dynamic Power Global Growth Class;
• Dynamic Power Small Cap Fund;
• Dynamic Value Fund of Canada;
• Dynamic Canadian Bond Fund;
• Dynamic Dividend Fund;
• Dynamic High Yield Bond Fund; and
• Dynamic Global Dividend Value Fund.

Series 11 is made available for rollover transactions from previously issued portfolios, while series 12 is available for new purchases.

Goodman & Co. says series 11 and 12 will meet the ongoing demand for a portfolio solution that allows investors to benefit from the growth potential of equities, a stable cash flow stream, potential tax efficiencies, guaranteed principal through monthly capital repayment and systematic asset allocation.

The new offering will be available in Current Pay Notes and Deferred 5 Notes options.

With Current Pay Notes, monthly distributions begin immediately, at an annual rate of 4% of the original deposit amount, for a 20-year term, with the balance ($20) + any variable return paid at maturity. These notes mature on July 27, 2029.

With the Deferred 5 Notes, monthly distributions begin in year six and last until year 25, at an annual rate of 5% of the original deposit. These notes mature on July 28, 2034.

The terms of the offerings are set out in the June 8 information statements relating to the deposit notes.

IE