New Fidelity fund aims for income

Toronto-based Fidelity Investments Canada ULC has introduced Fidelity Tactical Fixed Income Fund. This fund aims to provide investors with a steady flow of income. It invests, either directly or indirectly through underlying funds, primarily in Canadian fixed-income securities. Brian Miron and Jeff Moore will co-manage the fund. Advisor commissions are 0%-5% for front-end sales, 4.9% for deferred sales, 1% for the low-load option and 2.5% for the low-load 2 option. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule, begin at 2% for the first two years and end at zero after Year 3 of the low-load schedule, or begin at 3% in Year 1 and end at zero after Year 4 of the low-load 2 schedule. Trailing commissions are 0.5% for front-end and low-load sales, and 0.25% for deferred and low-load 2 option sales. Management fees are 1.35% for A-class units and 0.6% for F-class units. Minimum investment is $500.

(cohara@investmentexecutive.com)