New fund from Dynamic

Toronto-based GCIC Ltd., manager of Dynamic Funds, has launched Dynamic U.S. Dividend Advantage Fund. This new fund seeks to provide income and long-term capital appreciation by investing primarily in U.S. equity securities that pay a dividend or distribution. Cecilia Mo, vice president and portfolio manager with GCIC, will manage the fund. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales or 2% for the low-load option. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule; or begin at 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for deferred sales; and 0.5% for the first three years of low-load sales, and 1% thereafter. Management fees are 1.85% for A-class units and 0.85% for F-class units. Minimum investment is $500.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).