AGF Announces Risk Rating, Fund Name and Proposed Investment Objective Changes
April 26 2023 - 8:00AM
AGF Investments Inc. (AGF) today announced risk rating changes for
certain AGF funds, as well as certain fund name changes, and a
proposed investment objective change for AGF Strategic Income Fund.
Risk Rating Changes
AGF is changing the risk ratings for the following funds
effective today. The changes are based on the risk classification
methodology mandated by the Canadian Securities Administrators to
determine the risk level of mutual funds. No material changes have
been made to the investment objectives, strategies or management of
these funds.
Fund Name |
Previous Risk Rating |
Revised Risk Rating |
AGF Canadian Dividend Income Fund |
Low to Medium |
Medium |
AGF North American Dividend Income Class |
Low to Medium |
Medium |
AGF North American Dividend Income Fund |
Low to Medium |
Medium |
AGF China Focus Class |
Medium to High |
High |
AGF Global Equity Class |
Low to Medium |
Medium |
AGF Global Equity Fund |
Low to Medium |
Medium |
AGF Elements Conservative Portfolio |
Low |
Low to Medium |
AGF Elements Conservative Portfolio Class |
Low |
Low to Medium |
AGF Elements Yield Portfolio/Class Renamed to AGF Global
Yield Fund/Class
Also effective today, AGF Elements Yield Portfolio has been
renamed AGF Global Yield Fund and AGF Elements Yield Class has been
renamed AGF Global Yield Class. These name changes are being made
to better reflect the funds position as yield-oriented, monthly
income paying offerings. AGF Global Yield Fund/Class can be used as
a core holding to complement existing portfolios to manage
volatility or enhance income.
Proposed Investment Objective Change – AGF Strategic
Income Fund
Subject to securityholder approval, AGF is proposing to change
the investment objective of AGF Strategic Income Fund.
At the special meeting of securityholders to be held on June 15,
2023, subject to extension or adjournment thereof, securityholders
of each of AGF Strategic Income Fund will be asked to approve the
following proposed changes in the investment objective of the
fund:
Fund |
Current Investment Objective |
Proposed Investment Objective |
AGF Strategic Income Fund |
The Fund’s objective is to provide high long-term total investment
returns with moderate risk through a combination of long-term
capital growth and current income. It invests primarily in a mix of
common and preferred shares of Canadian companies, Canadian federal
and provincial bonds, high-quality corporate bonds and money market
instruments. |
The Fund’s objective is to provide long-term capital growth and
income with moderate risk. The Fund uses an asset allocation
approach. It invests primarily in a diversified mix of funds and
ETFs that provide exposure to global equity and fixed-income
securities. |
If approved, the proposed investment objective is expected to be
implemented on or about June 30, 2023. Notwithstanding the receipt
of securityholder approval, AGF may postpone implementing the
investment objective change for the fund until a later date or may
elect not to proceed with the change at all, if it considers such
decision to be in the best interests of the securityholders of the
fund.
If approved, upon adoption of the proposed investment objective
change, additional changes are expected to be made to AGF Strategic
Income Fund, including the following:
- Name Change: AGF Strategic Income Fund
will change its name to AGF Global Strategic Income Fund.
- Strategy Changes: The investment strategies of
the AGF Strategic Income Fund will be amended.
Additional information regarding the proposed change in
investment objective, including a discussion of certain Canadian
federal income tax considerations, will be provided in the fund’s
management information circular. In advance of the special meeting,
a notice-and-access document will be mailed to securityholders of
record as at April 24, 2023. The notice-and-access document will
describe the various ways in which securityholders can obtain a
copy of the management information circular.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent
and globally diverse asset management firm delivering excellence in
investing in the public and private markets through its three
distinct business lines: AGF Investments, AGF Private Capital and
AGF Private Wealth.
AGF brings a disciplined approach focused on providing an
exceptional client experience and incorporating sound responsible
and sustainable practices. The firm’s investment solutions, driven
by its fundamental, quantitative and private investing
capabilities, extends globally to a wide range of clients, from
financial advisors and their clients to high-net worth and
institutional investors including pension plans, corporate plans,
sovereign wealth funds, endowments and foundations.
Headquartered in Toronto, Canada, AGF has investment operations
and client servicing teams on the ground in North America and
Europe. With $42 billion in total assets under management
and fee-earning assets, AGF serves more than 800,000 investors. AGF
trades on the Toronto Stock Exchange under the symbol AGF.B.
Commissions, trailing commissions, management fees and expenses
all may be associated with mutual fund investments. Please read the
prospectus before investing. Mutual fund securities are not covered
by the Canada Deposit Insurance Corporation or by any other
government deposit insurer. There can be no assurances the fund
will be able to obtain its net asset value at a constant amount or
that the full amount of your investment in the fund will be
returned to you.
Media Contact
Amanda MarchmentDirector, Corporate
Communications416-865-4160amanda.marchment@agf.com
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