Product Watch

IA Clarington unveils bond fund

Toronto-based IA Clarington Investments Inc. has launched IA Clarington Strategic Corporate Bond Fund, which invests primarily in investment-grade and higher-yielding fixed-income securities of North American corporate and government issuers. The securities held in the fund, which are managed by Dan Bastastic, have credit ratings ranging from B to BBB. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales or 2.5% 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 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 0.7% for front-end sales; 0.3% for the first seven years of deferred sales, and 0.7% thereafter; and 0.3% for the first three years of low-load sales, and 0.7% thereafter. Management fees are 1.65% for A-class units. Minimum investment is $500.

Renaissance Investments expands offerings

Toronto-based Renaissance Investments has introduced Renaissance Optimal Inflation Opportunities Portfolio Fund and Renaissance Canadian All-Cap Equity Fund, as well as a Premium Class series of two funds, Renaissance Short-Term Income Fund and Renaissance Canadian Bond Fund. Premium Class series funds, available under the front-end load option (subject to minimum investment requirements), offer reduced management fees at higher investment amounts. Renaissance Optimal Inflation Opportunities Portfolio Fund aims to provide a hedge against inflation and invests in various asset classes, including infrastructure, global real estate and natural resources. Renaissance Canadian All-Cap Equity Fund seeks long-term capital growth, focusing on companies with strong growth potential of all capitalizations. For both funds, advisor commissions are 0%-5% for front-end sales, 5% for deferred sales or 3% for the low-load option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 6 of the DSC schedule, or begin at 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1.25% for front-end sales; 0.5% for the first six years of deferred sales, and 1.25% thereafter; and 0.5% for the first three years of low-load sales, and 1.25% thereafter. Management fees are 2% for A-class units and 0.75% for F-class units. Minimum investment in these funds is $500.

Fund changes at Standard Life

Montreal-based Standard Life Mutual Funds Ltd. has announced changes to several existing funds, as well as the appointment of two portfolio managers, Beutel Goodman & Co. Ltd. and Guardian Capital LP. The investment objectives and strategies have changed for the following four funds: Standard Life Canadian Dividend Growth Fund, Standard Life Canadian Dividend Growth Class, Standard Life Dividend Income Fund and Standard Life Canadian Small Cap Fund. There also have been name changes to two funds: Standard Life U.S. Equity Fund has been renamed Standard Life U.S. Equity Value Fund; and Standard Life Global Monthly Income Fund has been renamed Standard Life Tactical Income Fund, with a new investment objective to reflect the change. Beutel Goodman is now the manager of Standard Life Canadian Equity Value Fund, Standard Life Global Equity Value Fund and Standard Life U.S. Equity Value Fund. Another fund, Standard Life Canadian Equity Growth Fund, now will be managed by Guardian Capital. Advisors can visit www.slmf.ca for more information.

Compiled by Olivia Li (oli@investmentexecutive.com)