Standard Life Mutual Funds (SLMF) Friday announced updates to its mutual fund lineup that include the introduction of two brand-new funds, the closing to additional investments of two Corporate Class funds and the addition of five Corporate Class funds.

The two brand-new funds are Standard Life U.S. Monthly Income Fund and Standard Life Tactical Bond Fund.

Standard Life U.S. Monthly Income Fund offers investors balanced exposure to the many opportunities in the large and diverse American market. The fund is designed to provide exposure to U.S. fixed income for yield potential and U.S. equities for potential capital appreciation and dividends. It aims to provide less volatility than a fund entirely invested in equities. It also provides a monthly distribution.

“This fund has a balanced and flexible mandate,” said Boston-based Brian Fox, senior vice president, Equities (USA), Standard Life Investments. “The U.S. team is a key part of Standard Life Investments’ global network and provides a crucial local presence for analyzing American markets and managing U.S. equity portfolios.”

Standard Life Tactical Bond Fund is designed to generate a combination of capital growth and income. It offers a flexible approach to managing fixed income to reflect the changing marketplace.

“We use theme-based investing — looking beyond traditional asset allocation and passive benchmark investing,” said Marc Rouleau, vice president, fixed income, Standard Life Investments in Montreal. “We aim to build portfolios that offer the potential to perform in rising and declining rate environments.”

Corporate class changes

In order to ensure the long-term management efficiency of its Corporate Class, SLMF is immediately closing two funds to additional investments — Standard Life Canadian Bond Class and Standard Life Corporate Bond Class. Existing shareholders in these funds will continue to be eligible to purchase additional shares.

SLMF is also expanding its Corporate Class with five new funds:

  • Standard Life Canadian Equity Growth Class;
  • Standard Life Canadian Equity Value Class;
  • Standard Life Dividend Income Class;
  • Standard Life U.S. Dividend Growth Class; and
  • Standard Life Global Equity Value Class.

Advisors may select from 22 share classes in Corporate Class funds, and can switch investors’ assets from one class to another as their market outlook evolves and other circumstances change.