Russell Investments Canada Ltd. said Monday it is changing the name of Russell Managed Yield Class to Russell Fixed Income Class to better reflect the focus of this popular fund, which offers tax-efficient fixed-income exposure.
As well, Russell is launching two new corporate-class funds and announcing a series of initiatives that expand and enhance the fund options available to investors. These changes are included in the annual renewal of the simplified prospectus and the fund facts for each fund.
“With these changes we hope to make it easier for Canadians to understand what they are buying when they invest with Russell, and to find the right solution for their needs,” says David Feather, president and CEO of Russell Canada.
The new Russell Core Plus Fixed Income Class and Russell Global High Income Bond Class are both corporate-class funds similar to existing trust funds. These new funds offer tax-efficient fixed-income exposure.
Among the enhancements to Russell funds that will be included in the prospectus renewal is a lowering of the minimum investment threshold for both series E and series O funds to $150,000. Russell is also adding a series E option to all LifePoints Portfolios (trust and corporate class). For a minimum of $150,000, investors will now have access to LifePoints with lower management fees than our other LifePoints series B.
Also for LifePoints investors, Russell is offering a new 3% distribution option on the LifePoints Fixed Income Portfolio and Fixed Income Class Portfolio, series F and I. The 3% annual distribution is paid on a monthly basis.