Toronto-based Sentry Select Capital Corp. has expanded its core mutual fund lineup with the addition of Sentry Select Growth and Income Fund. The fund seeks a balance of current income and long-term capital appreciation by investing in a diversified portfolio of dividend-paying and/or distribution-paying North American equity and income securities, including income trusts, common and preferred shares, and interest-bearing securities such as bonds, bills or bankers’ acceptances. The fund offers a yield of 8% and will be managed by Sandy McIntyre and Michael Simpson. Advisor commissions for front-end sales are 0%-2.5%, 5% for deferred sales or 3% for the low-load option. For the regular DSC schedule, redemption fees begin at 6% in Year 1 and end at zero after Year 6; for the low-load schedule, redemption fees are 3% for the first 18 months and end at zero after Year 3. Trailing commissions are 1.25% for front-end sales and 1% for the DSC and the low-load options; the DSC trailer doubles to 1% when the six-year schedule is completed. Management fees are 2.25% for A-class units and 1% for F-class units. Minimum investment is $500 for A-class units and $5,000 for F-class units.

New subadvisor at AEGON

Toronto-based AEGON Fund Management Inc. has appointed Foyston Gordon & Payne Inc., also of Toronto, as subadvisor to Imaxx U.S. Equity Value Fund. FGP replaces Bear Stearns Asset Management of New York. There will be no changes to the investment objectives of the fund at this time, but the investment strategy will be updated to reflect FGP’s approach to managing investments. FGP has been subadvisor to Imaxx Canadian Equity Value Fund since 2002 and, since July 2004, to Imaxx Global Equity Value Fund.

Meritage sees changes

Montreal-based National Bank Securities Inc. (formerly Altamira Investment Services Inc.) has changed the asset allocation in nine of its Meritage Portfolios. In those portfolios, Fidelity Canadian Disciplined Equity Fund will replace Fidelity Canadian Opportunities Fund. Five portfolios are in the investment and income categories; four portfolios are made up exclusively of Canadian, U.S., international or global equity funds. All changes will take effect on Nov. 3. Also, a strategic optimization of the fixed-income allocation will be implemented in order to increase the potential returns of this portion of the assets through better diversification, says the company. In order to ensure complete objectivity, no former Altamira or National Bank of Canada funds are included in Meritage Portfolios; fund selection and monitoring of the portfolios is approved and supervised by Chicago-based Aon Consulting Inc. There are 14 Meritage Portfolios.

Citizens Bank offers free ATM use

Vancouver-based Citizens Bank of Canada has introduced a no-fee global chequing account that will not charge for U.S. and international ATM withdrawals, one of the first such benefit in Canada. The new global chequing account has no monthly account fee nor a required minimum balance. The account charges no fees for debit card purchases in Canada or the U.S. and offers free bill payments, transfers and cheques. Holders of the global chequing account have access to more than 2,500 ATMs across Canada, more than one million ATMs worldwide and 24-hour Web and phone access to their accounts.

Hartford launches new fund

Toronto-based Hartford Investments Canada Corp. says Black Creek Investment Management Inc. will manage the new Hartford International Equity Fund. The fund will provide long-term capital growth by investing primarily in equity securities of companies located outside Canada and the U.S. The fund may invest in small, medium-sized or large companies located in developed and emerging markets. Richard Jenkins, manager of global equities for Hartford Global Balanced Fund, will be lead manager of the new fund and will seek top companies regardless of sector or market capitalization, says Hartford Investments. Black Creek president Bill Kanko continues to be lead manager of Hartford Global Leaders Fund and will support Jenkins on Hartford International Equity Fund and Hartford Global Balanced Fund. Advisor commissions on the new fund are 0%-5% for front-end sales for A-class units; B-class unit commissions are 5% for deferred sales, 1% for the low-load L1 option and 3% for the low-load L3 option. For the regular DSC schedule, the redemption fee for B-class units begins at 6% in Year 1 and ends at zero after Year 6; for the low-load L1 option, redemption fees begin at 2% in Year 1 and end at zero after Year 2; for the low-load L3 option, the fee begins at 4% in Year 1 and ends at zero after Year 3. Trailing commissions are 1% for front-end sales and the low-load L1 option, and 0.5% for deferred sales and the low-load L3 option. Management fees for A-class units are 2.15%; for F-class units, 1%; and 2.20% for B-class units. Minimum investment is $500.

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