AGF Funds Inc. today announced an innovative approach to managed assets by launching a new Harmony pool, providing investors with greater diversification through access to various types of non-traditional investments.
In creating the Harmony Non-traditional Pool, AGF becomes one of the first fund companies in Canada to give investors access to global non-traditional investments such as infrastructure, water, agriculture, oil sands, mining and real estate in a managed assets program.
AGF also announced the new pool, along with three other Harmony pools and four Harmony portfolios, will be offered within the new Harmony Tax Advantage Group Limited -- a new mutual fund corporation that houses a range of corporate class offerings allowing investors to switch between them without generating immediate tax consequences on the switches.
In addition, AGF has introduced new series options on two Harmony portfolios (both in the trust and corporate class structures) that provide monthly income and potential tax efficiencies.
"At AGF, we recognize investors' needs are evolving and that fund companies must deliver products that meet those needs," said AGF Funds Inc. President Randy G. Ambrosie. "In launching the new non-traditional pool and the corporate classes within Harmony Tax Advantage Group, AGF is proactively addressing our clients' desire for tax efficiency and risk management."
He went on to add that most retail investors currently lack exposure to non-traditional asset classes and that AGF's new non-traditional pool will be an ideal way to further diversify a portfolio, along with traditional active management.
Wilshire Associates, a leading global consulting and investment services firm, provides advice and recommendations to AGF for the entire Harmony program and the construction of the Harmony Non-traditional Pool asset allocation. Wilshire will continue to provide support in ensuring independent portfolio construction, objective manager selection and ongoing active due diligence.
When AGF launched the innovative Harmony program in 1997, it was the first such wrap program of its kind in Canada. Today, Harmony continues to provide investors with access to a managed asset program offering seven distinct portfolios and six investment pools (in the trust structure) managed by leading institutional portfolio managers.
"As the demographics continue to change, advisors tell us that their clients are looking for everything from tax efficiency to peace of mind, while having the ability to diversify and tap into investments that have traditionally been available to only institutional clients. All of these significant improvements to our Harmony platform broaden our product line-up and give clients greater choice and access to pension-style investing," added Ambrosie. -- www.cnxmarketlink.com
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