Canoe expands lineup

Calgary-based Canoe Financial LP has launched two new income-oriented mutual funds: Canoe North American Monthly Income Fund and Canoe Strategic High Yield Fund. These funds expand Canoe’s mutual fund lineup in the global neutral/balanced and global fixed-income categories. Canoe North American Monthly Income Fund provides investors with income and long-term capital growth by investing in dividend-paying North American equities and corporate bonds. The target asset mix for the fund is approximately 50% fixed-income and 50% equities. This fund is managed by Toronto-based AEGON Capital Management Inc. Canoe Strategic High Yield Fund is designed to generate a high level of current income for investors by investing primarily in U.S. high-yield debt securities. This fund is managed by AEGON Capital Management and subadvised by AEGON USA Investment Management LLC. Advisor commissions for both funds are 0%-5% for front-end sales or 2.5% for the low-load option. Redemption fees begin at 3% in Year 1 and end at zero after Year 3. Trailing commissions for Canoe North American Monthly Income Fund are up to 1% for front-end sales or 0.5% for the first three years of low-load sales and 1% thereafter; for Canoe Strategic High Yield Fund, they are up to 0.75% for front-end sales or 0.375% for the first three years of low-load sales and 0.75% thereafter. Management fees for Canoe North American Monthly Income Fund are 2.15% for A-class units and 1.15% for F-class units; for Canoe Strategic High Yield Fund, they are 1.85% for A-class units and 1.1% for F-class units. Minimum initial investment is $2,500, then $50 thereafter.

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