NEI fund bets on the elderly

Toronto-based NEI Investments’ newest mutual fund is looking for investment opportunities created by aging populations around the globe. NEI Generational Leaders Fund invests in equities of companies that are poised to benefit from the growing cohort of elderly people. These companies – parts of “generational” markets – are focused on wealth management, longevity, lifestyle and personal care. NEI notes that according to a recent United Nations’ World Aging Report, the global population of people 60 years of age and older is set to more than double by 2050. The NEI fund is subadvised by CPR Asset Management SA, a wholly owned subsidiary of Amundi Asset Management Ltd. (Both companies’ head offices are in Paris.) Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales, 1% for the low-load option, 2.5% for the low-load 2 option or 3.5% for the low-load 3 option. Redemption fees begin at 6% for Year 1 and end at zero after Year 6 for the regular DSC schedule, begin at 1.5% in Year 1 and end at zero after Year 2 of the low-load schedule, begin at 3% in Year 1 and end at zero after Year 3 of the low-load 2 schedule, or begin at 4.5% in Year 1 and end at zero after Year 3 of the low-load 3 schedule. Trailing commissions are 1% for front-end sales; 0.5% for deferred sales; 1% for low-load sales; and 0.5% for the first three years of the low-load 2 sales and low-load 3 sales, and 1% thereafter. Management fees are 2% for A-class units and 1% for F-class units. Minimum investment is $500.

(fcollie@investmentexecutive.com).