Criterion launches “clean energy” fund

Toronto-based Criterion Investments Ltd. has introduced Criterion Global Clean Energy Fund, Canada’s first global “clean energy” fund. By investing in companies working on cleaner energy, the fund allows investors to capitalize on the global effort to reduce carbon emissions. Units are offered in both currency-hedged and unhedged versions. Commissions for front-end sales are 0%-2%, 5% for deferred sales and 2% for the low-load option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 7 for the DSC option, or begin at 2.5% in Year 1 and end at zero after Year 3 for the front-end or low-load options. Trailing commissions are 1% for front-end sales, 0.6% for the first seven years for deferred sales and 1% thereafter, and 0.7% for the first three years of low-load sales and 1% thereafter. Management fees are 1.15% for
F-class units. Minimum investment is $500.

Desjardins announces three new funds

Montreal-based Desjardins Sécurité Financier is offering alternative management accessibility for three new funds: Alternative Investments Fund, Emerging Markets Fund and Global Real Estate Fund. The funds are part of Optigestion, DSF’s multi-management investment program for pension funds. Alternative Investments Fund, managed by Desjardins Asset Management, will replicate strategies used by traditional hedge funds. Emerging Markets Fund, also managed by Desjardins Asset Management, gives investors an opportunity to participate in the growth of developing countries. Global Real Estate Fund, managed by CBRE Investors, offers hybrid investments combining equities and bonds.

AGF partners with CIBC for new PPNs

Toronto-based AGF Management Ltd., in partnership with Toronto-based CIBC, has introduced CIBC AGF Dividend Income Fund Deposit Notes Series 1 ROC (return of capital). Investors are given 100% principal protection at maturity, monthly income and growth potential, and access to dividend-paying companies by linking the PPNs to the performance of AGF Dividend Income Fund, AGF says. The notes can be purchased until Nov. 2. They mature on Nov. 9, 2015.

Assumption Life adds 12 new funds

Moncton, N.B.-based Assumption Life has rolled out 12 new segregated funds. It has also added Toronto-based AGF Management Ltd. as a fund manager; AGF joins existing managers Toronto-based CI Investments, Toronto-based Fidelity Investments and Montreal-based Montrusco Bolton. Four of the new funds are branded as Assumption/Fidelity: American Disciplined Equity, NorthStar, Monthly Income and Canadian Asset Allocation; four as Assumption/CI: Signature High Income, American Value, Synergy Global Corporate Class and Global Small Companies; and four as Assumption/AGF: Dividend Income, US Value Class, Global Financial Services Class and International Stock Class.

TD Asset Management rolls out two funds

Toronto-based TD Asset Management Inc., manager of TD mutual funds, has launched TD Global Sustainability Fund, which allows investors to invest in companies recognized for their sustainable business practices, and TD Canadian Core Plus Bond Fund, which gives investors access to worldwide alternatives by investing primarily in Canadian investment-grade bonds. Commissions for front-end sales are 0%-5%, 5% for deferred sales and 1% for low-load option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 6 for the regular DSC schedule; begin at 2% in Year 1 and end at zero after Year 2 for the low-load option; and begin at 3.5% in Year 1 and end at zero after Year 4 for low-load option 2. Trailing commissions are 0.5% for front-end and low-load sales, and 0.25% for deferred sales of Core Plus Bond Fund; and 1% for front-end and low-load sales or 0.5% for deferred sales for Global Sustainability Fund. Management fees are up to 1.25% for A-class units; up to 0.75% for F-class units in Core Plus Bond Fund; up to 2.1% for A-class units; and up to 1.1% for F-class units in Global Sustainability. Minimum investment is $500 for Series A and $5,000 for Series F.

Altamira streamlines fund family

Unitholders of Toronto-based Altamira Investment Services have approved mergers for six funds. Altamira Global 20 Fund and Altamira Global Financial Service Fund have merged with Altamira Global Value Fund. Altamira e-Business Fund has merged with Altamira Science and Technology Fund. Altamira Biotechnology Fund has merged with Altamira Health Sciences Fund. Altamira Precision Dow 30 Index Fund has merged with Altamira Precision U.S. RSP Index Fund and is now named Altamira Precision U.S. Currency Neutral Index Fund. Altamira Precision European RSP Index Fund has merged with Altamira Precision European Index Fund. In addition, Altamira Precision International RSP Index Fund has been renamed Altamira Precision International Currency Neutral Index Fund.

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