Original(*) family of Criterion Currency Hedged Funds helped smooth
13 per cent currency swings over the last year
TORONTO, June 13 /CNW/ - The fall and dramatic rise of the Canadian
dollar over the last 12 months is a prime example of the volatility that
currency adds to Canadians' global investments according to Toronto-based
Criterion Investments Limited ("Criterion").
Trading at 30 years highs against the US dollar, the loonie has also
strengthened significantly against other key currencies - up more than 9%
against the Japanese Yen and more than 5% against the Euro, British Pound and
Swiss Franc over the first five months of 2007. The strengthening of our
dollar typically takes a bite out of the value of Canadians' global portfolios
as many investments are held in foreign currencies.
From lows to highs, the Canadian dollar traded at an average range of
over 13 per cent against the major currencies during the 12 month period to
May 31, 2007. Those currency swings added significant volatility to Canadians'
"Nobody knows for sure where the dollar is headed next, but we do know
that currency adds considerable risk to the foreign investments in Canadians'
retirement savings," says Ian McPherson, President of Criterion. "Most
Canadians are saving for future spending in Canadian dollars, so why hold Euro
and Yen securities in your portfolio when exchange rates can take a bite out
of those investments when the time comes to bring them home?"
In mid-2006, Criterion launched Canada's first family of currency-hedged
global solutions to provide Canadians with an opportunity to invest outside of
Canada while taking changes in global currencies largely out of the mix. The
original Criterion Currency Hedged Funds have helped smooth the currency
roller coaster ride for investors over the last 12 months.
For example, Criterion International Equity Currency Hedged Fund
outperformed the majority of funds in its peer group, without the added risk
and volatility associated with multiple currencies. Sub-advised by top tier
institutional manager The Boston Company Asset Management LLC, a subsidiary of
Mellon, this Fund is the only currency-hedged international equity fund
available for everyday Canadian investors.
Criterion Water Infrastructure Fund, Canada's first actively-managed
global water fund, was added to the Criterion Currency Hedged Fund line-up in
Criterion is committed to creating insightful solutions for everyday
Canadian investors, leveraging value-added investment features that are
typically only available to large institutions and high-net worth individuals.
Criterion combines unique investment structures with best-in-class asset
managers or strategies to offer investors opportunities for access to
exclusive asset classes, enhanced yield, tax efficiency and risk reduction.
Criterion is an affiliate of VenGrowth Asset Management Inc., one of Canada's
premier managers of private equity and alternative investments with a proven
track record of success since 1982. For more information, please visit
(*)Original Criterion Currency Hedged Funds - One-Year Returns (%)
Criterion International Equity Currency Hedged Fund: 24.3% (Class C, as
at May 31, 2007)
Criterion Global Dividend Currency Hedged Fund: 19.5% (Class C, as at
May 31, 2007)
Criterion Diversified Commodities Currency Hedged Fund: 0.2% (Class E, as
at June 5, 2007)
Commissions, trailing commissions, management fees and expenses all may
be associated with mutual fund investments. Please read the prospectus of
Criterion Funds before investing. Mutual funds are not guaranteed, their
values change frequently and past performance may not be repeated.
For further information:
For further information: Media Inquiries: Angus Fisher, Manager, Media &
Communications, VenGrowth Asset Management Inc., (416) 628-9255,