AGF expands fund-management team

Jamie Horvat, Caterina Prato and Dan Rea have joined the fund-management team at Toronto-based AGF Funds Inc. Horvat has been assigned to AGF Canadian Resource Fund Ltd., AGF Global Resources Class and AGF Precious Metals Fund, which are co-managed by Bob Farquharson and Charles Oliver. Prato has been assigned to AGF Canadian Stock Fund and AGF Canada Class, joining Martin Hubbes. Driehaus Capital Management LLC, manager of AGF Aggressive Global Stock Fund, has assigned Rea to the team managing the fund, joining Lynette Schroeder and Meighan Harahan.

Altamira introduces two new portfolios

Toronto-based Altamira Financial Services Inc. has added two new portfolios to its Meritage Portfolios Family — Meritage International Equity Portfolio and Meritage American Equity Portfolio, bringing international and U.S. components to the family. The Meritage Portfolios Family comprises 14 portfolios offering investors diversification by asset class, geography, market capitalization and management style in a fund-of-funds wrap structure. Front-end sales commissions are 0%-5%, deferred sales commissions are 5% and commissions for the low-load option are 2.5%. For the regular DSC schedule, redemption fees begin at 6% in Year 1 and end at zero after Year 6; for the low-load option, redemptions fees start at 3% in Year 1 and end at zero after Year 3. Trailing commissions are 1.25% for front-end sales, 0.5% for deferred sales; and, for the low-load option, 0.5% for Years 1 to 3 and 1% thereafter. Management fees are 2.25% for A-class units. Minimum investment is $5,000.

Portfolio advisor changes at ScotiaMcLeod

Toronto-based ScotiaMcLeod Inc. has announced new portfolio advisors for three of its funds. Philadelphia-based Logan Circle Partners LP will replace Delaware Investment Advisers, also of Philadelphia, and become portfolio advisor to Pinnacle American Core-Plus Bond Fund. Michigan-based Munder Capital Management will replace Florida-based Boston Asset Management as advisor to Pinnacle International Small- to Mid-Cap Value Equity Fund. Those changes are effective Nov. 1. Montreal-based Montrusco Bolton Investments Inc. will replace Foyston Gordon & Payne Inc. of Toronto as portfolio advisor to Pinnacle Canadian Mid-Cap Value Equity Fund, effective Jan. 2, 2008.

Ethical launches global dividend offering

Vancouver-based Ethical Funds Co. has launched Ethical Global Dividend Fund. It will be managed by Toronto-based Beutel Goodman & Co. Ltd. and adhere to the Beutel Goodman investment philosophy focusing on 30 to 40 dividend-paying stocks in global companies, Ethical Funds says. Commissions for A-class units on front-end sales are 0%-5%; on deferred sales, 5%. There are also a low-load option, which pays a 1% commission, and a low-load 2 option, which pays a 2.5% commission. For the regular DSC schedule, redemption fees begin at 6% in Year 1 and end at zero after Year 6; for the low-load option, redemption fees are 2% within the first two years; for the low-load 2 option, they begin at 3% in Year 1 and end at zero after Year 3. Trailing commissions for front-end sales and the low-load option are 1%, 0.5% for deferred sales, and 0.5% for the first three years and 1% thereafter for low-load 2 option. Management fees are 2% for A-class units and 1% for F-class units. Minimum investment is $500.

Mavrix Asia Pacific Fund débuts

Toronto-based Mavrix Fund Management Inc. has launched Mavrix Asia Pacific Fund. The fund will allow investors access to equity growth opportunities in the Asia-Pacific RIM region and will be managed by Eric Yan, vice president and associate portfolio manager of Mavrix. For A-class units, front-end sales commissions are 0%-5%, deferred sales commissions are 5% and low-load option commissions are 3%. F-class units fall under the no-load option. For the regular DSC schedule, redemption fees begin at 6% in Year 1 and end at zero after Year 7; for the low-load option, they begin at 3.5% in Year 1 and end at zero after Year 3. Trailing commissions are 1.25% for front-end sales, 0.5% for deferred sales and 1% for the low-load option. Management fees are 2.25% for A-class units and 1% for F-class units. Minimum investment is $500.

Standard Life adds high-end seg fund option

Montreal-based Standard Life Assurance Co. of Canada has launched Ideal Segregated Funds — Platinum Option, targeted at clients with a minimum of $250,000 to invest. Standard Life has reorganized its segregated funds into six families, and is launching eight Ideal Segregated funds: Global Monthly Income Fund, Dividend Income Fund, U.S. Dividend Growth Fund, European Equity Fund, U.S. Mid-Cap Fund, Canadian Equity Focus Fund, U.S. Equity Focus Fund and Global Equity Focus Fund.

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