Three new Brandes Sionna funds

Toronto-based Brandes Investment Partners & Co. has launched three new funds that will be advised by Sionna Investment Managers Inc., the Toronto investment management firm founded by Kim Shannon. Brandes and Sionna formed an alliance in October 2006. The funds are Brandes Sionna Canadian Equity Fund, Brandes Sionna Diversified Income Fund and Brandes Sionna Canadian Small-Cap Equity Fund. “Investors who are looking for the disciplined, conservative approach to investing that Sionna has been known to deliver will be pleased with the new fund lineup,” Brandes CEO Oliver Murray says. Advisor commissions are up to 5% for front-end sales, 5% for deferred sales and 2% for low-load sales. Redemption fees are 5.5% in Year 1 and end at zero after Year 7 of the deferred redemption schedule, and are 3% in Year 1 and zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales and 0.5% for deferred and low-load sales. Trailing commissions rise to 1% when the units have been held for more than seven years in the DSC option or for three years in the low-load option. Management fees for the equity funds are up to 2.1%, or up to 1.1% for F-class units. Management fees for the diversified fund are up to 1.8%, or
up to 0.8% for F-class units. Minimum investment is $500.

Mackenzie launches fund of funds

Toronto-based Mackenzie Financial Corp. has marked its 40th anniversary with the launch of Mackenzie Founders Fund, a fund of funds that provides exposure to four of the firm’s longest-standing funds: Mackenzie Growth Fund, Mackenzie Cundill Value Fund, Mackenzie Maxxum Dividend Fund and Mackenzie Ivy Foreign Equity Fund. Senior vice president Karen Bleasby will oversee the Founders fund, which will be automatically or manually rebalanced to ensure the asset allocation remains within specified ranges.
The Founders fund is aimed at investors with medium risk tolerance who are looking for long-term capital growth, Mackenzie says. Commissions are up to 5% for front-end sales, 5% for deferred sales and 2.5% for low-load sales. Redemption fees are 5.5% in Year 1 and fall to zero after Year 7 for DSC schedule, or 3% in Year 1 and fall to zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales or 0.5% for deferred or low-load sales. Management fees are 2%, or 1%
for F-class units. Minimum investment is $500.

Excel rolls out income-growth fund

Toronto-based Excel Funds Management Inc. has introduced
its Global Income and Growth Fund, aimed at investors seeking exposure to foreign equity markets. The fund invests in income-paying equities and debt securities, such as India’s 364-day T-bills (which currently yield more than 7%). The fund will also invest in countries — such as Australia, Singapore and Germany — that show low correlation to equity markets in India, China
and North America. The fund also seeks to provide investors with geographical diversification. Commissions are up to 5% with a 1% trailer for front-end sales, 5% with a 0.5% trailer
for deferred sales and 2% with a 0.75% trailer for low-load sales. Redemption fees start at 5.75% in Year 1 and end at
zero after Year 7 of the deferred schedule, and 2.5% in Year 1 and zero after Year 3 of the low-load schedule. Management
fees are 2.25%, or 1.25% for F-class units. Minimum investment is $500, or $5,000 for low-load sales.

RBC lowers fees on nine funds

RBC Asset Management Inc. has reduced management fees
on nine of its international and global equity funds. The fee change — to 1.85% from 2% — affects A-class units of the following funds: RBC Asian Equity Fund; RBC European Equity Fund; RBC International Equity Fund; RBC Global Titans Fund; RBC Global Consumer and Financials Fund; RBC Global Health Sciences Fund; RBC Global Resources Fund; RBC Global Technology Fund; and RBC Life Science & Technology Fund.

AIC introduces two funds

Burlington, Ont.-based AIC Ltd. has added two products to
its fund lineup: AIC World Financial Infrastructure Income
and Growth Fund and AIC Global Premium Dividend Income Fund. Both are targeted at investors who seek tax-efficient
distribution on an annual or monthly basis. The World Financial fund invests primarily in equity securities of global companies involved in development and distribution of financial services. The Global Dividend fund invests in royalty and income trusts and in fixed-income securities of companies throughout the world. Front-end commissions are 0%-6%, 5% for deferred sales and 3% for low-load. Redemption fees begin at
6% in Year 1 and decline to zero after Year 6 of the deferred sales schedule, and 3% in the first 18 months and zero
after Year 3 of the low-load schedule. Trailing commissions
are 1% for front-end sales, 0.75%-1% for deferred sales and 0.5%-1% for low-load sales. Management fees are 2%, or
1% for F-class units. Minimum investment is $250.

@page_break@Compiled by Lara Hertel (lhertel@investmentexecutive.com).