Press release from CNW Group
AGF and Eaton Vance Announce Launch of New Mutual Funds in Canada and the U.S.
Wednesday, May 02, 2012
AGF and Eaton Vance Announce Launch of New Mutual Funds in Canada and the U.S.08:55 EDT Wednesday, May 02, 2012BOSTON, May 2, 2012 /CNW/ - AGF Management Limited (AGF) and Eaton Vance Corp. (Eaton Vance) announced today the launch of new mutual funds in Canada and the U.S. that combine the investment management and distribution strengths of the two organizations.AGF Floating Rate Income Fund AGF Floating Rate Income Fund is being offered in Canada by AGF Investments and sub-advised by Eaton Vance Management (EVM), a wholly owned subsidiary of Eaton Vance. The Fund is managed by Scott Page, Head of EVM's Bank Loan Investment Group, and Craig Russ, Director of Bank Loan Research. EVM is one of the world's largest and most experienced investors in floating-rate bank loans, with $24.7 billion in assets under management as of March 31, 2012 and a history of bank loan investing dating back to 1989. The Fund seeks to earn high levels of current income by investing primarily in floating-rate senior loans and other floating-rate debt securities of companies domiciled in the U.S."At AGF we believe that the floating-rate market provides great opportunities for Canadian investors, especially with uncertainty in interest rates and the need to diversify income investments," said Blake C. Goldring, Chairman and Chief Executive Officer of AGF Management Limited. "We are pleased to partner with Eaton Vance, a firm that brings extensive experience and a proven track record in loan investing to the Canadian market."Eaton Vance Global Natural Resources Fund Eaton Vance Global Natural Resources Fund is being offered in the U.S. by Eaton Vance and sub-advised by AGF Investments America Inc., a wholly owned subsidiary of AGF. With over two decades of experience, the Fund is led by Robert Lyon and the AGF Global Resources team. The Fund seeks long-term capital growth by investing primarily in equity and equity-related securities of companies around the world engaged in the development, production or distribution of natural resource-related products and services. The Fund will employ a top-down approach to asset and sector allocation and individual stock selection."We are pleased to introduce AGF's global natural resource management capabilities to the U.S. fund marketplace," said Thomas E. Faust Jr., Chairman and Chief Executive Officer of Eaton Vance. "Canada is home to many of the world's leading resource companies, providing AGF with close access to the most current thinking and best opportunities in natural resource investing."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.About Eaton VanceEaton Vance Corp. (NYSE: EV) is one of the oldest investment management firms in the United States, with a history dating from 1924. Eaton Vance and its affiliates managed $197.2 billion in assets as of March 31, 2012, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service, timely innovation and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.AGF Management Limited: Caution Regarding Forward-Looking StatementsThis release includes forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes' or negative versions thereof and similar expressions, or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, economic factors, business prospects, business performance and opportunities. While the company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements due to, but not limited to, important risk factors such as level of assets under management, volume of sales and redemptions of investment products, performance of investment funds and of investment managers and advisors, competitive fee levels for investment management products and administration, and competitive dealer compensation levels, size and default experience on the company's loan portfolio and cost efficiency in loan operations and investment management operations, as well as interest and foreign-exchange rates, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, and the company's ability to complete strategic transactions and integrate acquisitions. The company cautions that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Forward-looking statements are given only as at the date of this release and other than specifically required by applicable laws, the company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. Additional risks and uncertainties can be found in our Management's Discussion and Analysis (MD&A) for the fiscal year ended November 30, 2011 under the headings "Caution Regarding Forward-Looking Statements" and "Risk Factors and Management of Risk" and in our other filings with Canadian securities regulatory authorities.Eaton Vance Global Natural Resources Fund Risks:Fund share values are sensitive to stock market volatility. Because the Fund investments may be concentrated in a particular sector, the Fund share value may fluctuate more than that of a less concentrated fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of a mutual fund. This and other important information is contained in the prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.Mutual fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.The Eaton Vance Global Natural Resources Fund is distributed by Eaton Vance Distributors, Inc., Two International Place, Boston, MA 02110.For further information: For media inquiries, please contact:AGF Management Limited Amanda Marchment 416.865.4160 firstname.lastname@example.org Eaton Vance Corp. Colleen Lavery 617.672.8995 email@example.com