Mississauga, Ont.-based Excel Funds Management Inc. has launched three new funds, including two new income funds. Excel EM High Income Fund and Excel EM Capital Income Fund are designed for investors seeking the growth potential of emerging markets and an income stream. Excel EM High Income Fund provides a diversified portfolio of sovereign and corporate fixed-income instruments issued by corporations, governments or government-related entities based in emerging markets. The fund’s strategy combines fundamental research with quantitative analysis designed to perform in different market conditions. Excel EM Capital Income Fund is designed to generate tax-efficient returns and provide investors with higher-yielding fixed-income solutions that are tax-efficient and pay out a monthly distributions that will be considered as capital gains for tax purposes. The third fund, Excel Emerging Markets Fund, is for investors seeking growth through equities exposure to the developing economies. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales or 2% for the low-load option. Redemption fees begin at 5.75% in Year 1 and end at zero after Year 7 for the regular DSC schedule; or begin at 2.5% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for the first seven years of deferred sales, and 1% thereafter; and 0.75% for the first three years of low-load sales, and 1% thereafter. Management fees are 2.5% for A-class units and 1.25% for F-class units for the Excel Emerging Markets Fund; and 1.95% for A-class units and 0.95% for F-class units for Excel EM High Income Fund and Excel EM Capital Income Fund. Minimum investment is $250.
Mackenzie fund gets new subadvisor
Toronto-based Mackenzie Financial Corp. has appointed Toronto-based FSX Securities Canada as portfolio subadvisor for Mackenzie Universal World Real Estate Class Fund. FSX Securities Canada is a wholly-owned subsidiary of Forum Securities Ltd., a global investment-management firm focused on developing innovative approaches to investing in global public real estate securities.
Merger mania at Manulife Funds
Toronto-based Manulife Mutual Funds, a division of Manulife Asset Management Ltd., has received securityholder approval to implement a corporate-class structure amalgamation and a number of fund mergers. The overhaul follows the acquisition of AIC Ltd.’s retail mutual fund business in September 2009. The changes have been made in an effort to provide advisors and their clients with stronger, more efficient and focused products, Manulife says. In an effort to create a stronger corporate-class structure and to allow for tax-deferred switching between the AIC Corporate Classes and the Manulife Corporate Classes, the two separate corporate-class structures will be amalgamated on a tax-deferred basis into a single corporate entity under the Manulife Exchange Funds Corp. name. Securityholders of AIC Corporate Fund Inc. have voted in favour of the amalgamation with Manulife Investment Exchange Funds Corp. Manulife Mutual Funds also has received approval from securityholders of the continuing funds for the following tax-deferred, corporate-class mergers: Manulife Value Class merges into Manulife U.S. Opportunities Class; Manulife Canadian Money Market Class merges into Manulife Short-Term Yield Class; Manulife Global Core Class merges into Manulife Global Opportunities Class; Manulife Total Global Equity Class merges into Manulife Global Opportunities Class; Manulife U.S. Large Cap Value Class merges into Manulife U.S. Opportunities Class; and Manulife U.S. Mid-Cap Value Class merges into Manulife U.S. Opportunities Class. For a full listing of mergers, please visit www.manulifemutualfunds.ca.
Arrow renames funds
Toronto-based Arrow Hedge Partners Inc. has renamed its funds and fund families as part of a marketing strategy showcasing the range and specific makeup of its investment products. The changes include new fund names highlighting the portfolio-management firm running the funds, and an overall reclassification of the funds to clarify their primary focus. The Arrow Hedge offering consists of four principal funds that use a fund-of-hedge-funds approach to investing, as well as 14 single-manager hedge funds that invest according to special mandates. Arrow’s funds will now be classified under four categories: funds-of-hedge-funds will be included in the Portfolio Series; and the single-manager hedge funds will be grouped under the Global Series; North American Series or Income Series. Visit www.arrowhedge.com for details.
Compiled by Clare O’Hara (cohara@investmentexecutive.com).
New products from Excel Funds
<b>Mackenzie fund gets new subadvisor</b>
- By: Clare O’Hara
- November 15, 2010 October 30, 2019
- 11:54