L\u00e9vis, Que.-based Desjardins Group has unveiled a new product for investors who are waiting for an increase in interest rates but want to invest their money for the long term. The 5-in-1 Enhanced Rate Guaranteed Investment product offers investors 100% guaranteed capital up to five years while providing them with a current interest rate that is locked in for only a one-year term, allowing them to benefit from future interest rate increases. In addition, the interest rate is complemented by a set bonus of up to 1.0% for the full five-year term. The 5-in-1 Enhanced Rate Guaranteed Investment is redeemable or convertible every year and is eligible for RRSPs and tax-free savings accounts. Minimum investment is $1,000.
Rebranding at Aston Hill<\/b>
Calgary-based Aston Hill Financial Inc. has rebranded a number of its key funds and subsidiaries. Global Agribusiness Trust has been renamed Aston Hill Global Agribusiness Fund; Tax Optimized Return Oriented Securities Trust has become Aston Hill Capital Growth Fund; Navina Global Resource Fund is now Aston Hill Global Resource Fund; Navina Income & Growth Fund has been renamed Aston Hill Growth & Income Fund; and Navina Opportunities Fund Inc. is now Aston Hill Advantage Fund Inc. Aston Hill Asset Management Inc. (the new name for Toronto-based Navina Asset Management Inc.), a wholly owned subsidiary of Aston Hill Financial, will manage the funds. Concurrent with these changes, Aston Hill Financial has renamed its wholly owned subsidiary, Calgary-based Catapult Financial Management Inc., as Aston Hill Investments Inc. These rebranding initiatives, says Aston Hill Financial, will provide improved clarity and better reflect both the mandates of the funds and the Aston Hill brand.
ETF changes at BMO <\/b>
Toronto-based Bank of Montreal now will pay monthly distributions on 14 of the BMO exchange-traded funds that previously paid distributions on a quarterly basis. These ETFs include: BMO Short Federal Bond Index ETF, BMO Mid Federal Bond Index ETF, BMO Long Federal Bond Index ETF, BMO Short Provincial Bond Index ETF, BMO Short Corporate Bond Index ETF, BMO Mid Corporate Bond Index ETF, BMO Long Corporate Bond Index ETF, BMO Aggregate Bond Index ETF, BMO Real Return Bond Index ETF, BMO High Yield U.S. Corporate Bond Hedged to CAD Index ETF, BMO Emerging Markets Bond Hedged to CAD Index ETF, BMO S&P\/TSX Equal Weight Banks Index ETF, BMO Equal Weight Utilities Index ETF and BMO Equal Weight REITs Index ETF. The change was announced in order to meet investors\u2019 need for regular income generation, according to BMO. In addition, distributions on nine other funds are changing to an annual basis from a quarterly basis, including: BMO Junior Gold Index ETF, BMO Junior Oil Index ETF, BMO Junior Gas Index ETF, BMO Nasdaq 100 Equity Hedged to CAD Index ETF, BMO Equal Weight U.S. Health Care Hedged to CAD Index ETF, BMO Emerging Markets Equity Index ETF, BMO China Equity Hedged to CAD Index ETF, BMO India Equity Hedged to CAD Index ETF and BMO S&P\/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF. This latter group of ETFs are generally lower-yielding products, and BMO says it is more beneficial for investors receive payouts in annual lump sums rather than in amounts spaced through the year.
CI Investments goes for the gold<\/b>
Toronto-based CI Investments Inc. has launched Signature Gold Corporate Class, a fund aimed at giving investors access to gold bullion, gold-related equities and other precious metals. The fund offers an alternative for investors seeking to hold gold for long-term capital growth. The fund will invest primarily in gold and equities securities that provide exposure to gold as well as to silver, platinum and palladium. In addition, the fund provides tax benefits that allow switching between CI share classes or funds without capital gains or losses. Scott Vali, lead portfolio manager of Signature Global Energy Corporate Class and Signature Canadian Resource Fund, will manage the fund. Advisor commissions are 0%-5% for front-end sales; 5% for deferred sales; or 2% for the low-load option. Redemption fees begin at 5.5% 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 1% for front-end sales; 0.5% for the first seven years of deferred sales, and 1% thereafter; and 0.5% for the first three years of low-load sales, and 1% thereafter. Management fees are 2% for A-class units and 1% for F-class units. Minimum investment is $500.
Compiled by Clare O\u2019Hara (cohara@investmentexecutive.com). <\/i><\/p>\n","protected":false},"excerpt":{"rendered":"
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