Toronto-based Sun Life Financial Inc. and CI Investments Inc. have added 11 new investment options to the SunWise Essential Series lineup, including four segregated funds and three seg fund bundles that invest in underlying mutual funds. The bundles are rebalanced monthly to achieve a 70% equities/30% fixed-income allocation, based on the securities held in the funds. These funds and bundles are managed by Toronto-based Sun Life Global Investments (Canada) Inc. The new lineup also includes three SunWise Essential Low Volatility Bundles, which combine a single equities fund with an income fund, rebalancing monthly to achieve a target 55% equities/45% fixed-income allocation. The final new addition is CI Select Income Advantage Managed Segregated Fund, which gives investors access to seven income fund options.

Exchange-traded fund family grows

Toronto-based Jovian Capital Corp. has launched three new exchanged-traded funds. Horizons U.S. Dollar Currency ETF aims to reflect the price in Canadian dollars of the U.S. dollar, net of expenses, by investing primarily in cash and cash equivalents that are denominated in US$. Annual management fees are 0.45% and there is a redemption charge of up to 0.25% of exchange or redemption proceeds. Horizons AlphaPro Enhanced Income Energy ETF tracks the performance of an equally weighted portfolio of Canadian companies in the oil and gas industry, and provides monthly distributions of dividend and call-option income. Horizons AlphaPro Enhanced Income Gold Producers ETF seeks to mirror the performance of an equally weighted portfolio of North America-based gold-mining and exploration companies, and provides monthly distributions of dividend and call-option income. Annual management fees are 0.65% for the latter two funds, and there is a redemption charge of up to 0.25% of their exchange or redemption proceeds. JovInvestment Management Inc. acts as investment advisor on all three funds, with Eden Rahim as the funds’ portfolio manager.

Leadership changes at Invesco Trimark

Toronto-based Invesco Trimark Ltd. has appointed new leadership to its portfolio-management teams and made amendments to Trimark Select Growth Fund. Rex Chong has become head of fixed-income investments, Rob Mikalachi has become head of small-cap equities and Ian Hardacre is now head of Canadian equities for the firm. Trimark Select Growth Fund has been renamed Trimark Global Fundamental Equity Fund, and aims to provide investors with a broader set of global equities investment solutions. A prospectus amendment will be filed to address its new investment objective. Michael Hatcher, Darren McKiernan and Jeff Feng have joined the fund’s portfolio manager, Dana Love. In other changes, Jason Whiting has become lead portfolio manager of Trimark Canadian Small Companies Fund, and Jim Young is now lead manager of Trimark Global Health Sciences Class.

Claymore ETF to be renamed

Toronto-based Claymore Investments Inc. will rename Claymore Short Duration High-Income ETF to Claymore Advantaged Short Duration High-Income ETF, after amendments to the fund’s trust agreement come into effect by May 4. The fund will then create and issue an unlimited number of U.S. dollar-denominated (non-hedged) common-class units, advisor-class units and institutional-class units. Currently, the fund issues an unlimited number of Canadian dollar-denominated (hedged) common-class, advisor-class and institutional-class units. The fund aims to preserve capital and maximize total returns for investors through tax-efficient monthly distributions and capital appreciation. Distributions are intended to be tax-efficient, vs units of a trust that depends solely on interest, dividend and/or other investment income to pay distributions.

New portfolio advisor for Pinnacle fund

Toronto-based Scotia Asset Management LP has announced that Herndon Capital Management LLC has replaced Metropolitan West Capital Management LLC as portfolio advisor of Pinnacle American Value Equity Fund. Herndon Capital is an institutional investment-management firm specializing in large-cap equities strategies, with approximately $3 billion in total institutional client assets under management and $2.2 billion in large-cap value AUM as of Feb. 28. The Pinnacle funds are a family of investment pools offered and managed by Scotia Asset Management and available exclusively through ScotiaMcLeod Inc., a division of Scotia Capital Inc.

Compiled by Olivia Li (oli@investmentexecutive.com).