Canoe Financial launches two mutual funds

Canoe Financial has introduced two new income-oriented mutual funds.

These funds— the North American Monthly Income Fund and Strategic High-Yield Fund—expand the company’s line-up in the Global Neutral Balanced and Global Fixed Income categories.

“Investors are looking for investment solutions that can keep pace with [the market’s] continuous evolution,” says W. Brett Wilson, chairman of Canoe Financial.

“Demand for balanced and fixed-income investment solutions is on the rise,” adds Nevin G. Markwart, Canoe Financial’s president and chief executive officer. “Many tell us they’re looking for ways to generate income in retirement, while others prefer the reduced volatility associated with income-oriented portfolios.”

The North American Monthly Income Fund will provide investors with income and long-term capital growth by investing in dividend-paying North American equities and corporate bonds. The target asset mix for the fund is 50% fixed income and 50% equity securities.

The Strategic High Yield Fund is designed to generate a high level of current income for investors by investing primarily in U.S. high-yield debt securities.

AEGON Capital Management has been appointed portfolio manager for the new funds. Globally, AEGON companies are responsible for managing more thanUS$300 billion and manage $8.8 billion in Canada.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.