Press release from CNW Group
AGF Receives Approvals to Change Product Lineup
Wednesday, April 09, 2014
AGF Receives Approvals to Change Product Lineup13:43 EDT Wednesday, April 09, 2014
TORONTO, April 9, 2014 /CNW/ - AGF Investments Inc., (AGFI) today announced securityholder approval of a series of changes designed to simplify and strengthen its product suite.
The following mergers have been approved and will take place on or about May 23, 20141:
- AGF Global Government Bond Fund into AGF Global Aggregate Bond Fund
- AGF All Cap 30 Canadian Equity Fund into AGF Canadian Stock Fund
- AGF Conservative Asset Allocation Fund into AGF Canadian Asset Allocation Fund
- AGF High Income Fund into AGF Monthly High Income Fund
- AGF High Income Class into AGF Diversified Income Class
- AGF Social Values Balanced Fund into AGF Traditional Income Fund
- AGF Social Values Equity Fund into AGF Global Equity Fund
Proposed investment objective changes for AGF Elements Global Portfolio, AGF Elements Global Portfolio Class and AGF Income Focus Fund were also approved and are effective on or about April 17, 2014. These changes will provide the portfolios with greater investment flexibility and choice.
In addition, the firm is reducing the management fees on select funds that are sold through its fee-based series (Series F). "Our clients are looking for flexibility in pricing options. The decision to lower management fees on Series F in select funds reaffirms our commitment to helping advisors meet their client needs," said Gordon Forrester, Executive Vice-President, Marketing and Product and Head of Retail, AGF Investments Inc.
Effective April 1st, the management fee has been lowered on Series F of the following funds:
|Fund||Revised Mgmt Fee|
|AGF American Growth Class||1.00%|
|AGF European Equity Class||1.00%|
|AGF Global Equity Class||1.00%|
|AGF Global Equity Fund||1.00%|
|AGF Global Select Fund||1.00%|
|AGF International Stock Class||0.90%|
|AGF Canadian Asset Allocation Fund||0.90%|
|AGF Monthly High Income Fund||0.90%|
|AGF Emerging Markets Bond Fund||0.90%|
|AGF Fixed Income Plus Fund||0.70%|
|AGF High Yield Bond Fund||0.90%|
|AGF Total Return Bond Fund||0.90%|
1 Pending regulatory approval
All of these changes are designed to benefit AGF's investors and help them meet their investment goals.
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. With approximately $36 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.
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Vice-President, Marketing & Communications