Canoe changes risk rating of 4 funds

Canoe Financial has changed the risk rating of the following funds: Canoe ‘GO CANADA!’ Bond Advantage Fund, Canoe ‘GO CANADA!’ Bond Advantage Class, Canoe ‘GO CANADA!’ Enhanced Income Fund, and Canoe ‘GO CANADA!’ Enhanced Income Class.

The risk level of each has been adjusted from “low to medium” to “low.” No changes were made to the investment objectives, strategies or management of these funds.

The investment risk rating assigned was higher than the risk level assigned to similar mutual funds, explains Canoe.

Also, the investment strategies of Canoe ‘GO CANADA!’ Energy Income Class was amended to remove reference to any target asset mix.

The existing target allocation of 70% equities and 30% fixed income isn’t a desirable asset mix for this fund, given current market conditions. This change permits the portfolio manager to invest up to 100% of the fund’s assets in either equity securities or fixed income securities.

Staff

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