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Sunday, January 10, 2010

PH&N Introduces Monthly Income Fund

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Phillips, Hager & North Investment Management Ltd. (PH&N) has introduced their first monthly-pay balanced fund. The fund appropriately named the PH&N Monthly Income Fund, will target a neutral weighting of 50% fixed income and 50% equities.

According to their press release the PH&N Monthly Income Fund is designed to meet the needs of investors seeking a reliable income stream.

The fundamental investment objective of the fund is to provide a relatively high monthly income that may consist of dividend income, interest income, realized capital gains and a return of capital, with the potential for modest capital growth, by investing in a well-diversified balanced portfolio of income producing equity securities, including but not limited to, common shares of Canadian companies that pay dividends and income trusts, and fixed income securities such as preferred shares, government and corporate bonds, debentures and notes. the Fund seeks to offer investors a target annual distribution of 5 per cent but does state that Payout rate may change according to market conditions.

The co-managers are Scott Lamont, head of fixed income at Vancouver-based PH&N, and Scott Lysakowski, a Canadian equity manager who specializes in equity income mandates. Lysakowski, who joined PH&N in 2009 after having previously worked for seven years as a research analyst at RBC AM, will also continue to manage PH&N Canadian Income.

The Management fee for the fund is as follows:

PH&N Monthly Income
Fund - Management Fee
Series D 0.90%
Series C 1.65%
Series F 0.65%

“The PH&N Monthly Income Fund provides a straightforward, quality solution that meets Canadian investors’ demand for dependable income in a low-interest rate environment – whether in retirement or as a supplement to their existing income.” said John Montalbano, head of RBC Global Asset Management. (Both PH&N and RBC AM are wholly owned subsidiaries of Royal Bank of Canada.).

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1 comment:

  1. That's really awesome.. I hope I can see more of this.. i'm looking forward for your next post.. Thanks

    ReplyDelete

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