Dynamic introduces three funds
Toronto-based Dynamic Mutual Funds Ltd. has expanded its product lineup with the launch of three new funds: Dynamic Corporate Bond Strategies Fund, Dynamic Strategic Global Bond Fund and Dynamic Global Asset Allocation Class. For Dynamic Corporate Bond Strategies Fund and Dynamic Strategic Global Bond Fund, advisor commissions are 0%-5% for front-end sales; and 2.5% for the low-load option. Redemption fees begin at 3% in Year 1 and end at zero after Year 3 for the low-load schedule. Trailing commissions are 0.75% for front-end sales; and up to 0.75% for low-load sales. Management fees are 1.5% for A-class units; and 0.75% for F-class units. For Dynamic Global Asset Allocation Class, advisor commissions are 0%-5% for front-end sales; 5% for deferred sales; or 3% 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 3% in Year 1 and end at zero after Year 3 for the low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for deferred sales; and up to 1% for low-load sales. Management fees are 2% for A-class units; and 1% for F-class units. The minimum investment for the funds is $500.
BMO expands existing LifeStage funds
Toronto-based Bank of Montreal has created an additional series of its existing LifeStage Class funds, a suite of six mutual fund portfolios. A-class units are now offered on the following funds: BMO LifeStage 2017 Class, BMO LifeStage 2020 Class, BMO LifeStage 2025 Class, BMO LifeStage 2030 Class, BMO LifeStage 2035 Class and BMO LifeStage 2040 Class. Each fund’s asset allocation is designed with an annually shifting emphasis, moving from equities funds to fixed-income and cash-equivalent funds as the fund approaches its target date. This way, the funds aim to provide growth early on but become more conservative over time. The funds’ assets are mixed in asset class, geographical region, sector and market capitalization. A fund may invest in BMO exchange-traded funds and/or mutual funds. Each fund is a class of shares of BMO Global Tax Advantage Funds Inc., a mutual fund corporation, and allows investors the ability to switch their investment into another class or series of shares within the corporation without triggering a taxable disposition. Management fees range from 1.75% to 1.9%.
New funds from NEI Investments
Toronto-based Northwest and Ethical Investments LP has announced the launch of three new funds and four new Northwest Select Portfolios, as well as the addition of F-class units for fee-based accounts to all 18 corporate-class investments. The new funds and portfolios include: NEI Income Corporate Class, Northwest Specialty Global High Yield Bond Corporate Class, Northwest Tactical Yield Corporate Class, Northwest Select Conservative Corporate Class Portfolio, Northwest Select Canadian Balanced Corporate Class Portfolio, Northwest Select Canadian Growth Corporate Class Portfolio and Northwest Select Global Balanced Corporate Class Portfolio. The four new portfolios are corporate-class versions of existing Northwest Select funds — specifically, the conservative, Canadian balanced, Canadian growth and global balanced portfolios. NEI also has introduced T-class units for seven products within its corporate-class lineup, aiming to offer tax-efficient cash-flow solutions for investors. T-class units have also been added to the existing Northwest Growth and Income Corporate Class funds. For more details, please visit the company website at www.neiinvestments.com.
New ING Streetwise fund
Toronto-based ING Direct Asset Management Ltd. has announced the addition of a fourth fund to its family of ING Direct Streetwise products. The new Streetwise Equity Growth Fund aims to provide capital appreciation and growth. Streetwise funds carry a range of asset allocations to provide different levels of risk tolerance, from low-medium to medium-high, and because of the new Streetwise Equity Growth Fund’s risk tolerance of medium-high, it has a higher equities exposure than the other funds in its family. Fifty per cent of the new fund’s target allocation is invested in Canadian equities, 25% in U.S. equities and 25% in international equities. The Canadian equities component seeks to replicate the S&P/TSX 60 index; the U.S. equities component seeks to replicate the S&P 500 composite index; and the international equities component seeks to replicate the MSCI EAFE index. The fund’s portfolio subadvisor is State Street Global Advisors Ltd. The fund does not carry any applicable sales charges or deferred sales charges. Management fees are 0.8% and there is no minimum investment.
Compiled by Olivia Li (oli@investmentexecutive.com).