Toronto-based TD Asset Management Inc. of Toronto has renamed one of its funds and given it new investment objectives. TD Private U.S. Mid-Cap Equity Fund — formerly TD Private Small/Mid-Cap Equity Fund — seeks to achieve long-term capital growth by investing in, or obtaining exposure to, equities of medium-capitalization (primarily) and small-cap issuers (secondarily) in the U.S. These changes will allow the fund to shift from a 50/50 Canada/U.S. asset mix to focus on the larger and more diversified U.S. mid-cap market, says TDAM. As a result of the change in investment objective, TDAM will assume responsibility as portfolio manager. TDAM also announced name changes to the following funds: TD Private Canadian Dividend Fund will become TD Private Canadian Diversified Yield Fund; TD Private Canadian Equity Fund will become TD Private Canadian Blue Chip Equity Fund; TD Private U.S. Equity Fund will become TD Private U.S. Blue Chip Equity Fund; and TD Private U.S. Large-Cap Currency Neutral Fund will become TD Private U.S. Blue Chip Equity Currency Neutral Fund. The name changes have been done to ensure consistency of fund names across the TD Waterhouse Private Investment Counsel’s investment platform.

New energy ETFs from BetaPro

Toronto-based BetaPro Management Inc., manager of Horizons BetaPro exchange-traded funds, has launched two commodity-spread ETFs. Horizons BetaPro NYMEX Long Natural Gas/Short Crude Oil Spread ETF and Horizons BetaPro NYMEX Long Crude Oil/Short Natural Gas Spread ETF will offer different ways for investors to attempt to take advantage of relative price changes between natural gas and crude oil. Horizons BetaPro NYMEX Long Natural Gas/Short Crude Oil Spread ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs that endeavour to correspond to the sum of one-time (100%) of the daily performance of the NYMEX natural gas futures contract for the next delivery month and one-time (100%) of the inverse of the daily performance of the NYMEX light sweet crude oil futures contract for the next delivery month. Conversely, Horizons BetaPro NYMEX Long Crude Oil/Short Natural Gas Spread ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to the sum of one-time (100%) of the daily performance of the NYMEX light sweet crude oil futures contract for the next delivery month and one-time (100%) of the inverse of the daily performance of the NYMEX natural gas futures contract for the next delivery month. Any U.S.-dollar gains or losses as a result of the these ETFs’ investments will be hedged back to the Canadian dollar as closely as possible, says BetaPro.

RBC offers emerging-markets fund

Toronto-based RBC Asset Management Inc. has launched RBC Emerging Markets Fund. The fund provides investors with a low-fee, emerging-markets investment that is a distinct, concentrated portfolio of high-quality companies broadly diversified beyond the typical offerings of Brazil, Russia, India and China, says RBCAM. The new fund is managed by Phil Langham, senior portfolio manager and head of the emerging-markets team for RBC Global Asset Management. The team is based in London, England, and takes a disciplined approach to investing in businesses in sectors with solid, long-term prospects and exposure to domestic growth, such as financials and consumer-oriented companies. Advisor commissions for front-end sales are 0%-5%; 5% for deferred sales; and 1% for the low-load option. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule; or begin at 2% in Year 1 and end at zero after Year 2 for the low-load option. Trailing commissions are 1% for front-end and low-load sales; and 0.5% for deferred sales. Management fees are 1.85% for A-class units and 0.75% for F-class units. Minimum investment is $500.

New strategy for AGF fund

Toronto-based AGF Investments Inc. has enhanced AGF Monthly High Income Fund by changing the fund’s strategy to deliver higher yield. Effective May 3, the new strategy will focus on providing a high level of income and long-term capital growth through investment in a diversified portfolio of fixed-income securities and income-oriented equities. This change will allow the fund to shift from the current 70/30 equities/bonds asset mix to a more flexible asset-allocation mix. The fund will now strive to achieve an annual distribution of 7% for investors, says AGF Investments, which will now be the sole portfolio manager for the fund and will be adding Peter Frost, vice president and portfolio manager with AGF, to the fund’s management team. Frost will work with Tristan Sones and Tom Nakamura, portfolio managers and members of the firm’s fixed-income team. The changes to the fund will benefit investors who are looking to generate sustainable income while preserving capital.