Two new funds for Middlefield

Toronto-based Middlefield Group has launched two new mutual funds in its class family of funds, Middlefield Precious Metals Class and Middlefield Commodities and Agriculture Class. Middlefield Precious Metals Class will provide investors with exposure to the high growth potential of metals and mineral stocks. The investment portfolio will primarily comprise equity and equity- related securities of issuers that are engaged in the exploration and production of precious metals and minerals such as gold, silver, platinum, palladium and diamonds; it will be managed by Dennis Dasilva. Middlefield Commodities and Agriculture Class is directed toward investors who wish to add a fund that is heavily weighted in the natural resources industries; it will be managed by Robert Lauzon. Investments will be primarily in equity securities of issuers with high growth potential operating in the agriculture and commodities sectors. Advisor commissions for front-end sales are 0%-5%, or 5% for deferred sales. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule. Trailing commissions may be up to 1% for front-end sales and 0.25% for deferred sales. Management fees are 2%. Minimum initial investment is $1,000, and $100 for each purchase thereafter.

Acuity launches 130/30 fund

Toronto-based Acuity Funds Ltd. has introduced a new pooled fund that combines the power of long and short strategies into a single investment. Acuity Pooled 130/30 Fund is designed to help investors maximize return potential in rising markets and protect assets in falling markets, says the company. In managing the fund, Acuity will select stocks with exceptional upside potential, as well as those with the potential to experience a downturn. An initial 100% long position will be augmented by a 30% short position, and then the proceeds of the short position will be reinvested in additional long positions. “This type of investment is one of the first in Canada for individual investors,” says Stephen Crawford, senior vice president, national sales, with Acuity. “We are really excited to be offering the 130/30 fund. It has been extremely popular in the U.S., and we think it will be a success in the Canadian market.” Acuity Investment Management will manage the fund. Minimum investment is $50,000 for the accredited investor.

Standard Life launches whole-life product

Montreal-based Standard Life Assurance Co. of Canada has added a whole-life insurance product to its portfolio of wealth-management solutions. The whole-life product offers premiums and values that remain unchanged for the duration of the contract. It is targeted toward individuals who are approaching retirement and are looking for tax-efficient ways to maximize wealth transfer between generations, as well as toward younger individuals looking to protect their families financially. The new product also provides an alternative for existing Standard Life term insurance policyholders who want to convert their temporary insurance to a permanent form of life insurance coverage. The new whole-life product adds to the firm’s strategy to continue to provide products that meet the evolving needs of consumers as they enter various stages of their financial lives, including both pre- and post-retirement, the company says.

Manulife and Mawer enter fund agreement

Waterloo, Ont.-based Manulife Mutual Funds has reached an agreement that will allow it to offer a family of mutual funds subadvised by Calgary-based Mawer Investment Management Ltd. The arrangement allows Manulife to launch new mutual funds and segregated funds, subject to regulatory approval, to complement its Manulife Tax-Managed Growth Fund and Manulife World Investment Class, plus exclusively offer a broader family of funds subadvised by Mawer. Manulife will rebrand the two existing funds, which Mawer already manages, and the funds will be distributed through independent financial advisors. Mawer’s World Investment Fund is managed by Gerald Cooper-Key, the Canadian Investment Awards’ 2007 Fund Manager of the Year. Mawer has been managing portfolios for individual and institutional investors for more than three decades.

Richardson to distribute Credit Suisse notes

Toronto-based Richardson Partners Financial Ltd. has agreed to become a distributor of Credit Suisse Group’s Canadian Registered Structured Notes. As a dealer under the Credit Suisse program, Richardson will resell to Canadian investors prospectus-qualified structured notes on a fully underwritten basis. Richardson has partnered with Credit Suisse in the past through private placements and was the first firm to offer Canadian investors the Credit Suisse-developed Buffered Accelerated Return Equity Securities structure. Richardson is the first dealer to have such an agreement in connection with Credit Suisse’s Canadian Structured Notes Program.

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