Arrow launches Canadian income fund

Toronto-based Arrow Hedge Partners Inc. has launched Arrow Canadian Income Fund, which invests primarily in Canadian income trusts and dividend-paying common shares, with a focus on North American securities. Managed by Ben Cheng at Ashton Hill Financial Ltd., the fund will seek a high level of income and potential capital gains, and generate a risk-adjusted return with moderate volatility, Arrow says. “With changes to income trust legislation recently introduced by the federal government, this is an ideal time to start a long/short fund to take advantage of the considerable market opportunities,” says managing director Mark Purdy. Advisor commissions are 0%-5% for front-end sales, or 5% for deferred sales. Redemptions fees begin at 5.5% in Year 1 and end at zero after Year 7. Trailing commissions are 1% for front-end sales, or 0.5% for deferred sales. Management fees are 2.5% for A-class shares, or 1.5% for F-class. Minimum investment is $25,000 for accredited investors, or $150,000 for non-accredited investors. Clients in British Columbia, Nova Scotia, Newfoundland, New Brunswick and the Yukon who are not accredited may sign a risk-acknowledgement form allowing them to purchase units in the fund for $5,000.

Jovian rolls out deposit notes

Jovian Capital Corp., and subsidiaries Jove Investment Manage-ment Inc. and Gibraltar Consulting Group, have launched CIBC Gartman Global Allocation Deposit Notes Series 1. The notes are linked to the performance of the Gartman index, a proprietary index devised by Dennis Gartman that offers exposure to 22 equity, commodity, bond and currency subindices. The notes are 100% principal-protected, provided they are held for six years until maturity. Advisor commissions are 4.25%, with a 0.25% trailer. Investors who redeem the notes within the first year of purchase are subject to a 6.75% early trading fee, which declines to zero after Year 3. Management fees are 0.625%. Minimum investment is $5,000. The notes are available until March 30.

Hartford unveils global balanced fund

Toronto-based Hartford Investments Canada Corp. has introduced Hartford Global Balanced Fund, aimed at providing risk-averse investors with a balanced approach to investing, the company says. The fund will be co-managed by Bill Kanko, president of Black Creek Investment Management Inc., and Robert Crusha and Raymond Uy, both of Hartford. Kanko will manage the equity portion of the fund; Crusha and Uy will share responsibility for the fixed-income portion. Front-end commissions are 0%-5%, or 5% for deferred sales. Redemption fees begin at 6% in Year 1 and decline to zero after Year 6. Trailing commissions are 1%. Hartford has also announced an automatic trailer hike upon expiry of the DSC schedule for Class B units: the maximum fee will increase to 1% from 0.5%. Management fees for A-class shares are 2.15%, or 1% for F-class. Minimum investment is $500.

AIM raises foreign content ceiling on 12 funds

AIM Funds Management Inc. has boosted the allowable foreign content limit on 12 of its Canadian funds. The increase — up to 49% for all 12 — will provide investors with a chance to enhance their returns and improve diversification, AIM says. The changes are subject to regulatory approval and will take effect April 2. AIM also announced that Trimark Canadian Small Companies Fund, which has been closed to new investors since 2002, will reopen to new investors April 2. The fund is being reopened because of the expanded foreign-content limit. Also, AIM is rearranging its portfolio-management team. Effective immediately, Jeff Hyrich will assume the lead management role on both Trimark Global Endeavour Fund/Class and Trimark Global Mid-Cap Equity Private Pool. Geoff MacDonald will remain as co-manager of those funds, while picking up mandates with Trimark Income Growth Fund and Trimark Canadian Endeavour Fund. Evelyn Huang succeeds Judith Adams as co-manager of Trimark Select Growth Fund/Class and Trimark Global Equity Private Pool, having been promoted to portfolio manager from senior equity analyst. Ted Chisholm will assume the lead manager role at Trimark Canadian Small Companies Fund, with Rob Mikalachki remaining as co-manager.

GGOF introduces global dividend fund

Guardian Group of Funds Ltd. has launched GGOF Global Dividend Growth Fund for investors seeking a combination of capital growth, income and risk control, the company says. The fund holds a portfolio of 60 to 100 equity holdings, with no geographical restrictions. The fund will favour developed markets but may invest up to 25% of its assets in emerging markets, GGOF says. It will be managed by Lazard Asset Management (Canada) Inc. Advisor commissions are up to 5% for front-end sales, 5% for deferred sales and 2% for low-load. Redemption fees begin at 6% in Year 1 and end at zero after Year 7 of the DSC schedule, or 3% in Year 1 and zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end and low-load sales, and 0.5% for deferred sales. Management fees are 2% (1% for F-class units). Minimum investment is $500.

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