O'Leary Funds Reports Record Mutual Fund Sales and Recognition for Outstanding Performance
MONTREAL, Aug. 14, 2014 /CNW Telbec/ - O'Leary Funds Management LP today announced record mutual fund sales for the twelve month period ending June 30, 2014 and recognition for outstanding performance from FundGrade® for several of its funds.
Sales for the last twelve months reached a milestone of approximately $301 million, including $167 million for the first six months of 2014. "We are very pleased with our results, overall and year-to-date," said Connor O'Brien, CEO of O'Leary Funds and President of Stanton Asset Management Inc., the portfolio advisor to the O'Leary family of funds. "Sales continue to be strong across all strategies and regions, from our fixed income and equity investments, to our floating rate and balanced income solutions."
O'Leary Funds notably benefited from the introduction of two new mutual funds during the period, including the O'Leary Tactical Income Fund, which received considerable attention from advisors following its introduction in February. "This Fund is particularly well-suited to the current environment as many investors are seeking a fixed income solution with attractive income and reduced interest rate risk" said Mr. O'Brien, "and with economic conditions pointing to an eventual rise in interest rates, it made sense to offer the strategy to mutual fund investors." After only five months of sales, the fund was among the firm's best sellers with new investor inflows of nearly $30 million at June 30, 2014.
Several O'Leary funds also received independent industry recognition in 2014. The O'Leary Conservative Income Fund, the O'Leary Canadian Bond Yield Fund, the O'Leary Global Bond Yield Fund and the O'Leary Global Bond Yield Advantaged Fund each received FundGrade® Certificates of Achievement for outstanding performance during the second quarter. The O'Leary Conservative Income Fund and the O'Leary Canadian Bond Yield Fund also received this honour for the first quarter of 2014.
"While Sales have been strong across all strategies," said Stephen Crawford, Senior Vice-President, National Sales, "Our Canadian equity and balanced products have been notably so due to their strategic approach to investing in the current financial environment. The O'Leary Conservative Income Fund, in particular, has been popular with investors, generating nearly $27 million in sales since the beginning of 2014. We would like to thank our network of investment advisors and their clients for their ongoing support as we pursue our mission to become Canada's leading destination for income investing."
About O'Leary Funds
O'Leary Funds Management LP is a Canadian investment fund manager of mutual funds and closed-end funds striving to provide Canadian investors with reliable and strategic income solutions. Based on our value-yield investment philosophy, Canadian and global investment opportunities are identified through a disciplined investment process. Our core principles, Income, Capital Appreciation and Capital Preservation, are driven by each portfolios investment objectives. Our portfolios are diversified by sector, region and asset class. For more details about O'Leary Funds, visit www.olearyfunds.com.
Fundata's FundGrade® rating system assists investors, advisors and portfolio managers in objectively ranking investment funds within the Canadian investment fund universe. The FundGrade® rating system assigns a letter grade to more than 7,000 investment funds, providing a quick and easy tool for ranking funds based on historic risk-adjusted returns. FundGrade ratings are published on the 7th business day of each month and distributed to numerous well known industry websites and publications, including www.fundata.com and www.fundlibrary.com.
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