Goodman & Co., Investment Counsel Ltd. today announced the launch of the eighth series of Bank of Montreal Dynamic RetirementEdge Income Portfolios.

Goodman & Co. says the deposit notes are an investment solution that balances the wealth accumulation and distribution needs of baby boomers.

The notes will be available until Friday, September 26, and will be issued by Bank of Montreal on October 1. The notes are 100% eligible for registered plans.

The new offering builds on the success of the last seven series. The notes allow investors to benefit from the growth potential of equities, a stable income stream, unique tax efficiencies, systematic asset allocation, and a fixed low annual fee.

With the Current Pay Notes, monthly distributions begin immediately, at an annual rate of 6.6% of the original deposit amount, adjusted for inflation. The Current Pay Notes mature on Oct. 6, 2023.

The Deferred 5 Notes offer guaranteed minimum growth of 5% per year during the accumulation period, for a total of 25%. Monthly distributions begin in year six, at an annual rate of 8.25% of the original deposit amount until $99 is distributed.
The Deferred 5 Notes mature on Oct. 8, 2030.

The Deferred 10 Notes offer guaranteed minimum growth of 5% per year during the accumulation period, or a total of 50%. Monthly distributions begin in year 11, at an annual rate of 9.9% of the original deposit amount until $99 is distributed. The Deferred 10 Notes mature on Oct. 7, 2033.

The notes may provide holders with exposure to the distributions and capital appreciation of portfolio of notional shares or units of 10 Dynamic funds:

> Dynamic Global Dividend Value Fund;

> Dynamic Value Fund of Canada;

> Dynamic Global Value Fund;

> Dynamic Dividend Fund;

> Dynamic Global Discovery Fund;

> Dynamic Power Canadian Growth Fund;

> Dynamic Power Global Growth Class;

> Dynamic Power Small Cap Fund;

> Dynamic Canadian Bond Fund; and

> Dynamic High Yield Bond Fund.

the units of the funds will be notionally reinvested in additional units of the fund portfolio and no payments will be made to holders. In the case of Deferred 5 Notes, the note NAV will be at least $26 on the anniversary date of year 17 and in the case of Deferred 10 Notes, the note NAV will be at least $51 on the anniversary date of year 20. After such dates, the NAV per note will continue to depend on the performance of the fund portfolio so long as neither an extraordinary event nor capital preservation event occurs.

The fluctuations in the value of, and the return on, the fund portfolio will directly impact the distributions and return, if any, on the deposit notes. It is possible that no return will be paid on the notes.