MONTREAL, Oct. 8 /CNW Telbec/ - Gestion FÉRIQUE, manager of the FÉRIQUE Funds, announces the launch of two new mutual funds: FÉRIQUE MODERATE BALANCED Fund and FÉRIQUE DIVIDEND Fund. Both are available as of today and, like all other FÉRIQUE products, are exclusive to engineers, their families and their companies.
"The new funds were created in response to recent changes in our clients' needs," explained Fabienne Lacoste, CFA, Executive Director of Gestion FÉRIQUE. "A growing number of investors are looking for vehicles that suit a more conservative profile or provide regular income. For some, this need is associated with the approach of retirement. For others, it is related to changes in their investor profile, often in reaction to market volatility. By adding these two funds to our family, we make sure that we can continue meeting our clients' needs at every stage of their lives and however their personal profile may change."
Contrary to a strong trend in the industry, which, in Canada, includes more than 5,000 funds, launching new funds is not a common event for Gestion FÉRIQUE. The last time it happened was in 2003, when FÉRIQUE EUROPEAN and ASIAN Funds were added to the lineup. While the median age of Canadian mutual funds is barely 4.5 years, four of the 10 FÉRIQUE funds have been around for 35 years.
"We make a serious effort to listen to our unitholders and target exactly what they want," added Ms. Lacoste. "Furthermore, since we are a not-for-profit corporation and do not pay commissions to financial intermediaries, launching a new fund is more complicated for us. That is why we are particularly proud to mark the 35th anniversary of FÉRIQUE Funds by adding to the solutions we offer our clients."
The FÉRIQUE DIVIDEND Fund is invested primarily in common and preferred Canadian stocks that pay good dividends. It may also include income trust units or dividend-bearing foreign stocks. Foreign investment is limited to no more than 10% of total assets. The fund seeks to achieve a balance between high income, mainly in the form of dividends, and, to a lesser extent, long-term capital growth. It is designed for investors with moderate risk tolerance, investing over the medium and long term.
The FÉRIQUE MODERATE BALANCED Fund is invested primarily in bonds, Canadian and foreign stocks and money market securities. Seventy percent of the fund is in fixed-income securities and 30% is in stocks. The goal is to maximize investment return and, to a lesser extent, ensure long-term capital growth through asset diversification. This fund is for investors with low risk tolerance, investing over the medium or long term.
The management expense ratio for the two funds is only 0.85%, which puts them in the third and the last percentile, respectively, in their fund categories in Canada, in terms of management fees (source: PALTrak survey, owned by Morningstar Research Inc., as of August 31, 2009).
About Gestion FÉRIQUE
Founded on January 1, 2000, Gestion FÉRIQUE (www.ferique.com) manages the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. FÉRIQUE is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers and their families. The firm offers ten mutual funds diversified across all asset classes. Management of the funds is entrusted to renowned investment firms which are hand-picked by Gestion FÉRIQUE, based on their superior asset class expertise. FÉRIQUE Funds have more than $1.3 billion in assets under management and nearly 23,000 clients.
SOURCE Gestion FÉRIQUE
For further information: For further information: Caroline Couillard, Morin Relations Publiques, (514) 289-8688, ext. 233, C. (514) 755-5729; Source: Manon Duhamel, Director, Marketing and Communications, Gestion FÉRIQUE, (514) 840-9206, ext. 3229