New Harmony pool launched along with potentially tax efficient program
TORONTO, Aug. 25 /CNW/ - AGF Funds Inc. today announced an innovative
approach to managed assets by launching a new Harmony pool, providing
investors with greater diversification through access to various types of
In creating the Harmony Non-traditional Pool, AGF becomes one of the
first fund companies in Canada to give investors access to global
non-traditional investments such as infrastructure, water, agriculture, oil
sands, mining and real estate in a managed assets program.
AGF also announced the new pool, along with three other Harmony pools and
four Harmony portfolios, will be offered within the new Harmony Tax Advantage
Group Limited -- a new mutual fund corporation that houses a range of
corporate class offerings allowing investors to switch between them without
generating immediate tax consequences on the switches.
In addition, AGF has introduced new series options on two Harmony
portfolios (both in the trust and corporate class structures) that provide
monthly income and potential tax efficiencies.
"At AGF, we recognize investors' needs are evolving and that fund
companies must deliver products that meet those needs," said AGF Funds Inc.
President Randy G. Ambrosie. "In launching the new non-traditional pool and
the corporate classes within Harmony Tax Advantage Group, AGF is proactively
addressing our clients' desire for tax efficiency and risk management."
He went on to add that most retail investors currently lack exposure to
non-traditional asset classes and that AGF's new non-traditional pool will be
an ideal way to further diversify a portfolio, along with traditional active
Wilshire Associates, a leading global consulting and investment services
firm, provides advice and recommendations to AGF for the entire Harmony
program and the construction of the Harmony Non-traditional Pool asset
allocation. Wilshire(R) will continue to provide support in ensuring
independent portfolio construction, objective manager selection and ongoing
active due diligence.
When AGF launched the innovative Harmony program in 1997, it was the
first such wrap program of its kind in Canada. Today, Harmony continues to
provide investors with access to a managed asset program offering seven
distinct portfolios and six investment pools (in the trust structure) managed
by leading institutional portfolio managers.
"As the demographics continue to change, advisors tell us that their
clients are looking for everything from tax efficiency to peace of mind, while
having the ability to diversify and tap into investments that have
traditionally been available to only institutional clients. All of these
significant improvements to our Harmony platform broaden our product line-up
and give clients greater choice and access to pension-style investing," added
About AGF Management Limited
AGF Management Limited is one of Canada's premier investment management
companies with offices across Canada and subsidiaries around the world. AGF's
products and services include a diversified family of more than 50 mutual
funds, the evolutionary AGF Elements portfolios, the Harmony asset management
program, AGF Asset Management Group services for institutional and
high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With
approximately $48 billion in total assets under management, AGF serves more
than one million investors. AGF trades on the Toronto Stock Exchange under the
Wilshire is a registered service mark of Wilshire Associates
Incorporated, Santa Monica, Calif.
For further information:
For further information: Media, please contact: Lucy Becker,
Vice-President, Corporate Communications, (416) 865-4284, Lucy.Becker@agf.com;
Karen Archer, Media Relations Manager, (416) 865-4295, Karen.Archer@agf.com