TORONTO, June 9, 2015 /CNW/ - AGF Investments Inc. (AGF) today announced that Highstreet Asset Management Inc. (Highstreet) will assume the portfolio management of AGF Dividend Income Fund replacing AGF Investments Inc. on or about June 26, 2015.
Founded in 1998 and based in London, Ontario, Highstreet is a wholly owned subsidiary of AGF Management Limited. With assets of approximately $1.4 billion, Highstreet provides discretionary money management services to high-net-worth investors, individual investors and their families, foundations, pension plans, and institutional investors.
At Highstreet's foundation lies empirically based research and the combination of quantitative and fundamental investing. The investment process incorporates ongoing monitoring and risk management through Highstreet's proprietary risk system.
"Risk management and the ability to offer downside protection has become increasingly important to Canadian investors," said Kevin McCreadie, President and Chief Investment Officer, AGF Investments Inc. "We are excited to further leverage Highstreet's capabilities using their disciplined investment process on our retail platform."
Highstreet has been managing dividend income mandates for high-net-worth investors since December 2012.
Using the same objective and strategy, AGF Dividend Income Fund will be led by Fred Steciuk, Senior Vice-President and Portfolio Manager. He is supported by Stephen Duench, Associate Portfolio Manager and Mark Stacey, Senior Vice-President, Head of Portfolio Management and Co-Chief Investment Officer.
"Employing a team approach, we use both portfolio management and research teams to ensure a repeatable and consistent process," added Stacey. "We look forward to increasing our presence on the AGF platform and bringing this strategy to advisors and their clients."
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 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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