Investment firm announces new ETF, along with fee reductions and series terminations
Canadian investors stand to get even more access to sustainable strategies as AGF Investments unveils a new ETF and reduces fees for an already-existing equity-fund strategy.
Following a preliminary prospectus filed with Canadian securities regulators earlier this month, the firm has announced the AGF Global Sustainable Growth Equity ETF. With an investment objective of providing long-term capital appreciation, the ETF is diversified primarily across equity securities that are consistent with its concept of sustainable investment.
The firm also announced that based on a recent review of its AGF Global Sustainable Growth Equity Fund, it is reducing fees and terminating certain series of the fund.
Effective October 1, mutual-fund series of the fund will undergo a management-fee reduction from 2% to 1.65%, while fees for Series F are being cut back from 0.90% to 0.65%.
Meanwhile, series Q and series W of the fund, which offer preferred-pricing solutions for qualified investors, will take effect on or about November 6. Leading up to that, units of the series will be no longer made available for purchase on August 31; AGF has also stopped accommodating purchases and switches into the series, including systematic purchase and switch plans.
For investors who keep holding series Q and W units in a client-name registered plan, the units will be transferred to another series of AGF Global Sustainable Growth Equity Fund on or about November 5. Those holding Series Q will see their units transferred into AGF Global Sustainable Growth Equity Fund, MF Series (front end), while those with Series W will see their units moved into AGF Global Sustainable Growth Equity Fund, Series F.
AGF Global Select Series F is one of the best-performing mutual funds in Canada for 2023. Learn more here.
Meanwhile, investors who keep holding series Q and W units in a client-name non-registered plan or nominee/intermediary-held accounts (both registered and non-registered, will have their units redeemed on or about November 6; no redemption chees or sales charges will be applied in those cases.
