Excel launches two new funds
Mississauga, Ont.-based Excel Funds Management Inc. has launched Excel Emerging Europe Fund and Excel Money Market Fund. Excel Emerging Europe Fund will invest primarily in equity securities of companies located in or otherwise benefiting from the emerging markets of Europe, including Russia, Turkey, Poland, Austria, Croatia and Ukraine. The portfolio manager is Britain-based Baring Asset Management Inc. Excel Money Market Fund will provide investors with the potential to earn the highest level of current income consistent with the preservation of capital and liquidity by investing primarily in Canadian money market and fixed-income instruments, says an Excel release. The Canadian portfolio manager is Toron Capital Market Inc. Advisor commissions are 0%-5% for front-end sales for the emerging Europe fund and 0%-2% for the money market fund; 5% for deferred sales; or 2% for the low-load option. Redemption fees begin at 5.75% in Year 1 and are zero after Year 7 of the regular DSC schedule, or begin at 2.5% in Year 1 and are zero after Year 3 of the low-load schedule. Trailing commissions for the emerging Europe fund are 1% for front-end sales, 0.5% for deferred sales and 0.75% for the low load option; 0.25% for front-end, deferred and low-load option for the money market fund. Management fees are 2.5% for A-class units and 1.5% for F-class units for the emerging Europe fund; 0.5% for A-class units and 0.25% for F-class units for the money market fund. Minimum Investment for A-class front-end sales and deferred sales is $500; for low-load sales, $2,500. F-class unit have a minimum investment of $2,500.
NBS unveils new Omega Funds
Montreal-based National Bank Securities has announced four new mutual funds; Omega Preferred Equity Fund, Omega High Dividend Fund, Omega Consensus American Equity Fund and Omega Consensus International Equity Fund. The funds will draw upon privileged partnerships to offer investors distinctive strategies at competitive fees. Lead manager for both Omega Consensus funds is John Reese at Connecticut-based Validea Capital Management LLC. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales or 2.5% for the low-load 2 option. Redemption fees begin at 6% in Year 1 and end at zero in Year 6 of the regular DSC schedule, or begin at 3% in Year 1 and end at zero after Year 4 of the low-load schedule. Trailing commissions for the preferred equity fund is 0.75% for front-end sales, 0.25% for deferred sales and 0.25% for low-load 2 sales for the first through third years and 0.75% thereafter; for the high dividend, consensus American equity and consensus international equity funds, it’s 1% for front-end sales, 0.5% for deferred sales and low-load 2 sales for the first through third year and 1% thereafter. Management fees are 1.25% for the preferred equity fund and 1.7% for the high dividend, consensus American equity and consensus international equity funds. Minimum investment is $500.
New GICs for Laurentian
Montreal-based Laurentian Bank of Canada has launched three new investment products under the ActionGIC banner — Income ActionGIC, Blue Chip ActionGIC and Global Growth ActionGIC. The ActionGICs differ from traditional GICs in that they offer higher yield potential because their performance is tied to that of baskets of equities, a Laurentian Bank release says. As with traditional GICs, investor capital is protected. The return of the Income ActionGIC is based on a portfolio of securities of major Canadian businesses and is suited for investors who want to take advantage of the Canadian stock market’s growth. Investors can purchase the Income ActionGIC until Feb. 1; it has a five-year term. The Blue Chip ActionGIC’s yield is based on a basket of equities of Canadian companies known for financial stability. Investors can purchase the Blue Chip ActionGIC up until Jan. 15; it has a three-year term. The Global Growth ActionGIC’s yield is based on the performance of a portfolio of multinational equities actively traded in emerging economies. Investors can purchase the Global Growth ActionGIC until April 15; it has a five-year term. Minimum investment is $500 for registered accounts and $1,000 for non-registered accounts.
Mackenzie announces new fund
Toronto-based Mackenzie Financial Corp. has unveiled Mackenzie Founders Income & Growth Fund, a balanced fund that offers a fixed monthly distribution. It aims to achieve income and long-term capital growth by investing in a diverse portfolio of Mackenzie-sponsored equity and fixed-income funds, a Mackenzie release says. The fund includes 60% equity and 40% fixed-income investments. Advisor commissions for front-end sales are 0%-5%, 5% for deferred sales and 2.5% for the low-load option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 7 of the regular DSC schedule, or begin at 3% in Year 1 and end at zero after Year 3 of the low-load option. Trailing commissions are 1% for front-end sales and 0.5% for deferred sales for A-class units. Management fees are 2% for A-class units and 1% for F-class units. Minimum investment is $500.
@page_break@Compiled by Clare O’Hara (cohara@investmentexecutive.com).
PRODUCT WATCH
- By: Clare O’Hara
- January 4, 2008 October 30, 2019
- 09:40