Triax-Covington Corp., which manages several labour sponsored investment funds says that its two new Venture Partners Funds, Balanced and Equity, are available to investors in time for this upcoming RSP season.

The two new funds are the only labour sponsored investment funds that offer a multi-sector and multi- manager approach, by retaining three different investment management firms to manage one-third of each fund within their respective area of expertise.

Investment veterans Grant Brown and Chip Vallis of Covington Capital Corp. lead a team of 11 venture capital specialists responsible for the traditional and new economy portion of the funds, which will invest companies in sectors such as consumer products, software, communications, manufacturing, financial services, entertainment, and telecommunications.

“We search out private Canadian enterprises poised to dominate their respective markets. Funding is provided to companies that have built a solid foundation for growth based on key business fundamentals — great products or services, good management teams, market share, earnings, and a clear path to profitability,” said Brown.

Meridian Advisors, led by Managing Partner Bill Tharp and his team are responsible for the energy and efficiency portion of the funds.

Covington Life Sciences are responsible for the Life Sciences and Healthcare portion of the funds, which will invest in companies driving healthcare and biotechnology services, applications, discoveries and technologies into the global marketplace. “A rapidly aging population, increases in life expectancy, the mapping of the Human Genome and convergence of high tech and biotech are fueling demand for these technologies and services,” said Vallis.

In addition to RRSP savings, investors are granted significant additional tax credits and can manage their risk/return ratio by choosing from two series of shares. Venture Partners Equity and Balanced Funds provide Ontario investors with a 30% tax credit (15% federal and 15% provincial).

Venture Partners Balanced Fund also offers a 100% capital repayment option along with the potential gains from the venture portfolio.

The initial offering price for both Funds is $10 per share with a minimum subscription of $500.