Goodman & Co., Investment Counsel Ltd. today announced the launch of the fifth series of Bank of Montreal Dynamic RetirementEdge Income Portfolios (deposit notes).
Goodman & Co. says series 5 will meet the ongoing demand for a portfolio solution that allows 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.
Three types of deposit notes will be available until Friday, March 14. The notes will be issued by Bank of Montreal on March 19, and are 100% eligible for registered plans.
With the Current Pay Notes, monthly distributions begin immediately, at an annual rate of 6.6% of the original deposit amount, adjusted for inflation. These deposit notes mature on March 17, 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. These deposit notes mature on March 15, 2030.
The Deferred 10 Notes also offerGuaranteed minimum growth of 5% per year during the accumulation period, for a total of 50%. Monthly distributions begin in year 11, at an annual rate of 9.90% of the original deposit amount until $99 is distributed. These deposit notes mature on March 18, 2033.
Dynamic RetirementEdge Income Portfolios Series 5 invests in 10 leading 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;
- Dynamic High Yield Bond Fund.
Goodman & Co. is a Toronto-based asset management company with more than $26 billion in assets under management.