AGF Announces Series of Product Changes to Refine and Enhance Its Line-up
December 11 2017 - 2:00PM
AGF Investments Inc. (AGF) today announced a series of product
changes to refine and enhance their product line-up.
“At AGF, we continuously review our line-up to ensure our
offerings are competitive, while addressing the product needs of
our clients,” said Florence Narine, Senior Vice- President,
Product, AGF Investment Inc.
The changes include management fee reductions, risk rating
changes, new series launch and changes to a portfolio manager.
Management Fee Reductions
AGF is dedicated to offering investors strong products at
competitive price points. As a result, AGF has decided to make
broad changes to management fees across its product suite.
Effective December 11, 2017, we will be reducing management fees
on 23 AGF funds. These management fee reductions, which range from
5 bps to 35 bps, will include the MF and F series of the AGF Global
Select Fund, AGF Total Return Bond Fund/Class and AGF U.S. Sector
Class and select funds from our high-net-worth (Q/W) series,
including our entire AGF Elements Portfolio lineup.
|
|
|
Fund |
Series Q |
Series W |
Managed Solutions |
AGF Elements Balanced Portfolio |
0.80% to 0.70% |
0.80% to 0.70% |
AGF Elements Balanced Portfolio Class |
0.80% to 0.70% |
0.80% to 0.70% |
AGF Elements Conservative Portfolio |
0.80% to 0.70% |
0.80% to 0.70% |
AGF Elements Conservative Portfolio Class |
0.80% to 0.70% |
0.80% to 0.70% |
AGF Elements Global Portfolio |
0.90% to 0.80% |
0.90% to 0.80% |
AGF Elements Global Portfolio Class |
0.90% to 0.80% |
0.90% to 0.80% |
AGF Elements Growth Portfolio |
0.90% to 0.70% |
0.90% to 0.70% |
AGF Elements Growth Portfolio Class |
0.90% to 0.70% |
0.90% to 0.70% |
AGF Elements Yield Portfolio |
0.80% to 0.70% |
0.80% to 0.70% |
AGF Elements Yield Portfolio Class |
0.80% to 0.70% |
0.80% to 0.70% |
Fund |
Series Q |
Series W |
Global Equity Funds |
AGF Global Dividend Class |
1.00% to 0.90% |
1.00% to 0.90% |
AGF Global Dividend Fund |
1.00% to 0.90% |
1.00% to 0.90% |
AGF Global Equity Class |
1.00% to 0.90% |
1.00% to 0.90% |
AGF Global Equity Fund |
1.00% to 0.90% |
1.00% to 0.90% |
Global Fixed Income Funds |
AGF Floating Rate Income |
1.00% to 0.80% |
1.00% to 0.80% |
AGF Global Convertible Bond Fund |
0.95% to 0.80% |
0.95% to 0.80% |
U.S. Equity Funds |
AGF American Growth Class |
1.00% to 0.90% |
1.00% to 0.90% |
Specialty Funds |
AGF Flex Asset Allocation Fund |
1.00% to 0.85% |
1.00% to 0.85% |
AGF Global Sustainable Growth Equity Fund |
1.00% to 0.90% |
1.00% to 0.90% |
Fund |
MF Series |
Series F |
Global Equity Funds |
AGF Global Select Fund |
2.35% to 2.00% |
- |
Global Fixed Income Funds |
AGF Total Return Bond Class |
1.50% to 1.45% |
0.90% to 0.75% |
AGF Total Return Bond Fund |
1.50% to 1.45% |
0.90% to 0.75% |
U.S. Equity Funds |
AGF US Sector Class |
2.20% to 2.00% |
1.20% to 1.00% |
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|
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“We believe the fee reductions will have positive implications
for AGF unitholders giving them access to reduced fees and a fully
integrated platform of high-quality, diversified investment
solutions,” added Narine.
Risk Rating Change
AGF is changing the risk rating for 13 funds,
with 11 decreasing their risk rating and two increasing their risk
rating.
These changes result from compliance with the
Canadian Securities Administrators’ Mutual Fund Risk Classification
Methodology, which became effective on September 1, 2017.
Previously, AGF followed a risk classification methodology based on
the approach recommended by The Investment Funds Institute of
Canada. No material changes have been made to the investment
objectives, strategies or management of the Funds.
|
|
|
Fund Name |
Previous Risk Rating |
Revised Risk Rating |
AGF Canadian Small Cap Fund |
High |
Medium to High |
AGF Elements Conservative Portfolio |
Low to Medium |
Low |
AGF Elements Conservative Portfolio Class |
Low to Medium |
Low |
AGF Elements Growth Portfolio |
Medium |
Low to Medium |
AGF Elements Growth Portfolio Class |
Medium |
Low to Medium |
AGF Emerging Markets Fund |
High |
Medium to High |
AGF Global Convertible Bond Fund |
Low |
Low to Medium |
AGF Global Resources Class |
High |
Medium to High |
AGF Global Select Fund |
Medium to High |
Medium |
AGF Global Sustainable Growth Equity Fund |
Medium |
Medium to High |
AGF High Yield Bond Fund |
Low to Medium |
Low |
AGF Total Return Bond Class |
Low to Medium |
Low |
AGF Total Return Bond Fund |
Low to Medium |
Low |
|
|
|
Series I Launch
In January 2018, AGF will expand its offering of institutional
fund series through the launch of 16 Series I Offerings providing
institutional investors with additional ways to access AGF
funds.
The following funds will be qualified on
December 11, 2017 and launched in January 2018 (including three
already qualified institutional series.)
|
o AGF Global Resources Class |
o AGF Canadian Large Cap Dividend Fund |
o AGF Canadian Small Cap Fund |
o AGF Canadian Stock Fund |
o AGF Diversified Income Fund |
o AGF Dividend Income Fund |
o AGF EAFE Equity Fund |
o AGF Emerging Markets Bond Fund |
o AGF Emerging Markets Fund |
o AGF Fixed Income Plus Fund |
o AGF Global Bond Fund |
o AGF Global Equity Fund |
o AGF High Yield Bond Fund |
o AGF Monthly High Income Fund |
o AGF Total Return Bond Fund |
o AGF Traditional Income Fund |
|
AGFiQ to Co-manage AGF Canadian Large
Cap Dividend Fund/Class
AGFiQ Asset Management (through Highstreet Asset Management
Inc.) will assume the portfolio management of the Canadian equity
portion of AGF Large Cap Dividend Fund and AGF Canadian Large Cap
Dividend Class replacing Connor Clark & Lunn Investment
Management Ltd. effective today.
“We are proud of the fact that we have the capabilities to
manage this strategy internally,” said Kevin McCreadie, President
and Chief Investment Officer, AGF Investments Inc. “This change
reflects the growth and evolution of our firm. We have the right
people in place to bring discipline and stability to our investment
processes to deliver repeatable and consistent outcomes that better
meet investor expectations.”
AGFiQ Asset Management is the quantitative investment platform
for AGF powered by an intellectually diverse, multi-disciplined
team that combines the complementary strengths of investment
professionals across AGF and its affiliates from FFCM LLC and
Highstreet Asset Management Inc. (Highstreet).
Highstreet has a strong record in managing Canadian dividend
mandates, including AGF Dividend Income Fund. Their
proprietary research-driven approach has delivered consistent
income above the benchmark and downside protection.
Using a similar objective and strategy, AGF Canadian Large Cap
Dividend Fund/Class will be led by Stephen Duench and Mark
Stacey alongside Stephen Way who manages the Global Equity portion,
which remains unchanged.
About AGF Management
Limited
Founded in 1957, AGF Management Limited (AGF) is a diversified
global asset management firm with retail, institutional,
alternative and high-net-worth businesses. As an independent firm,
AGF brings a disciplined approach to delivering excellence in
investment management and providing an exceptional client
experience. AGF’s suite of diverse investment solutions extends
globally to a wide range of clients, from financial advisors and
individual investors to institutional investors including pension
plans, corporate plans, sovereign wealth funds and endowments and
foundations.
AGF has investment operations and client servicing teams on the
ground in North America, Europe and Asia. With approximately $37
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.
Media Contact
Amanda MarchmentDirector, Corporate
Communications416-865-4160amanda.marchment@agf.com