Bridgehouse expands its fund family

Toronto-based Bridgehouse Asset Managers, a division of San Diego-based Brandes Investment Partners LP, has announced changes to its investment funds lineup, including the addition of two new funds: Greystone Canadian Bond Fund and Lazard Global Balanced Income Fund. The new Greystone fund seeks to achieve long-term capital appreciation and income by investing primarily in high-quality Canadian fixed-income securities; this fund will be managed by Bridgehouse and subadvised by Regina-based Greystone Managed Investments Inc. The new Lazard fund seeks to provide a diversified global solution for low- to medium-risk Canadian investors seeking income and growth; this fund will be managed by Bridgehouse, with Lazard Asset Management (Canada) Inc. and its affiliate, Lazard Asset Management LLC, providing support. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales and 2.5% for the low-load option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 7 for the regular DSC schedule; or begin at 3% in Year 1 and end at zero after Year 3 for the low-load schedule. Management fees are 1% for A-class units and 0.5% for F-class units for the new Greystone fund; and 2% for A-class units and 1% for F-class units for the new Lazard fund. Minimum investment is $1,000. For individual trailing commissions, visit www.bridgehousecanada.com. Also, changes have been made to the fixed-income investment strategy for three Bridgehouse funds. The fixed-income components of Sionna Canadian Balanced Fund, Sionna Monthly Income Fund and Brandes Global Balanced Fund will be invested in Greystone Canadian Bond Fund. Greystone Managed Investments Inc. will replace State Street Global Advisors Ltd. as the portfolio subadvisor for the fixed-income components of the two Sionna funds and the Brandes fund; Greystone Managed Investments also will replace State Street as sole portfolio subadvisor for Brandes Canadian Money Market Fund. There is no change to the investment objective or strategy of these four funds.

(cohara@investmentexecutive.com).