TORONTO, March 5, 2014 /CNW/ - AGF Investments Inc., (AGFI) today announced a series of changes designed to simplify and strengthen the product suite.
"We conduct ongoing reviews to ensure we offer products that best represent our investment management strengths and meet the needs of our investors," said Gordon Forrester, Executive Vice-President, Marketing and Product and Head of Retail, AGF Investments Inc.
As a result of this review, AGF is proposing to merge the following funds on or about May 23, 20141.
- AGF Global Government Bond Fund into AGF Global Aggregate Bond Fund
In addition, investment objective changes are proposed for AGF Elements Global Portfolio, AGF Elements Global Portfolio Class and AGF Income Focus Fund. These changes are designed to provide the portfolios with greater flexibility and choice.
Special securityholder meetings will be held on or about April 9, 2014 to seek approval for these changes, as well as the proposed mergers that AGF announced on November 12, 2013.
The following funds will be terminated on or about May 12, 2014:
- AGF Monthly High Income Class
- AGF U.S. Risk Managed Class
- AGF Global Resources Fund (formerly Acuity Natural Resources Fund)
These changes do not impact AGF Monthly High Income Fund or AGF Global Resources Class, both of which remain open for sale.
Clients affected by these changes will be notified shortly and are encouraged to consult their financial advisor to determine the solution that best meets their individual investment preferences and needs.
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 award-winning 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 over $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.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes' or negative versions thereof and similar expressions, or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, economic factors, business prospects, business performance and opportunities. While the company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements due to, but not limited to, important risk factors such as level of assets under management, volume of sales and redemptions of investment products, performance of investment funds and of investment managers and advisors, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as interest and foreign-exchange rates, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, and the company's ability to complete strategic transactions and integrate acquisitions. The company cautions that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Forward-looking statements are given only as at the date of this release and other than specifically required by applicable laws, the company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. Additional risks and uncertainties can be found in our MD&A for the fiscal year ended November 30, 2013 under the headings "Caution Regarding Forward-Looking Statements" and "Risk Factors and Management of Risk" and in our other filings with Canadian securities regulatory authorities.
1 Subject to all required approvals.
For further information:
MEDIA, PLEASE CONTACT:
Vice-President, Marketing & Communications