Acuity Funds Ltd. has introduced Acuity Dividend Mutual Fund, which invests in Canadian and foreign dividend-paying shares. “This fund really complements our existing income product lineup. We now have everything from a pure income trust fund to a dividend fund, and everything in between,” says Stephen Crawford, Acuity’s senior vice president of national sales in Toronto. “It is also a good option for clients looking for a combination of growth and income.” The fund’s asset allocation range is 80%-100% in dividend-paying common equities and 0%-20% in preferred stocks. Crawford expects the initial annualized distribution to be 2.4%, paid quarterly, and that most of the returns will be triggered by capital gains. Commissions are 0%-5% for front-end, 1% for level-load and 5% for deferred sales charges. Redemption fees are 5.5% in Year 1 and zero after Year 6 for shares purchased on a DSC basis, or 2% in Year 1 and zero after Year 3 for units purchased on a level-load basis. Trailing commissions are 1.25% for front-end, 1% for level-load and 0.5% for DSC. Management fees are 2.35% for A-class shares and 1.35% for F-class. Minimum investment is $500.