The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

AGF Securityholders Approve Investment Fund Mergers and Investment Objective Changes

Tuesday, April 10, 2012

AGF Securityholders Approve Investment Fund Mergers and Investment Objective Changes13:38 EDT Tuesday, April 10, 2012AGF Also Announces Portfolio Manager ChangesTORONTO, April 10, 2012 /CNW/ - Following special securityholder meetings today, AGF Investments Inc. announced that the following changes to its product line-up have been approved by securityholders:Fund MergersThe mergers of the following funds:AGF Canadian Stock Class into AGF Canada ClassAGF Canadian Value Fund into AGF Canadian Stock FundAGF Global Resources Fund into Acuity Natural Resource FundAcuity Canadian Balanced Fund into Acuity Conservative Asset Allocation FundAlpha Social Values Portfolio into Acuity Social Values Balanced FundAcuity Social Values Global Equity Fund into Acuity Social Values Canadian Equity FundInvestment Objective ChangesInvestment objective changes for the following funds:Acuity Social Values Canadian Equity FundAGF Canadian Growth Equity ClassAGF Canadian Growth Equity FundAGF Canadian High Yield Bond FundAGF also announced the following portfolio manager changes to the funds listed below:Acuity EAFE Equity Fund (to be renamed AGF EAFE Equity Fund) - Highstreet Asset Management Inc. will replace Acuity Investment Management Inc. as the portfolio managerAcuity Natural Resource Fund (to be renamed AGF Global Resources Fund) - AGF Investments Inc. will replace Acuity Investment Management Inc. as the portfolio managerAcuity Growth & Income Fund (to be renamed AGF Tactical Income Fund) - Cypress Capital Management Ltd. will replace Acuity Investment Management Inc. as the portfolio manager"We know that in today's marketplace investors are often overwhelmed with product choices," said Gordon Forrester, Executive Vice-President, Product and Marketing and Head of Retail. "With this in mind these changes were made to offer a product line-up that remains compelling and meets the needs of our clients."The mergers will, subject to regulatory approval, take effect on or about May 25, 2012. The investment objective changes and portfolio manager changes will take effect on or about April 19, 2012.About AGF Management Limited AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. In addition, AGF Trust is a complementary business that offers GICs, loans and mortgages through the financial advisor and mortgage broker channels. With approximately $47 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.For further information: For media inquiries, contact AGF Corporate Communications:  Amanda Marchment Manager, Corporate Communications 416-865-4160 amanda.marchment@agf.com