TORONTO--(BUSINESS WIRE)--Foresters Financial Investment Management Company of Canada Inc. (the “Manager”), today announced changes to certain imaxxFunds™. These changes will be effective upon the renewal of the imaxxFunds™ Simplified Prospectus.
|Previous name||New name|
|imaxx Money Market Fund||imaxx Short Term Bond Fund|
|imaxx Canadian Equity Growth Fund||imaxx Equity Growth Fund|
|imaxx Canadian Dividend Fund||imaxx Canadian Dividend Plus Fund|
The change in the fund names is intended to more accurately reflect their respective investment portfolios, objectives and strategies.
Change to the imaxx Short Term Bond Fund
The previously announced change in the investment objectives and strategies of the imaxx Short Term Bond Fund will take effect.
Management Fee Reductions
The management fee of Class F of the imaxx Short Term Bond Fund will decrease from 0.75% to 0.63%.
The management fee of Class F of the imaxx Canadian Bond Fund will decrease from 0.85% to 0.75%.
Additional Classes and Target Distribution Rates
imaxx Canadian Fixed Pay Fund
The existing Class A and Class F of the imaxx Canadian Fixed Pay Fund will be renamed Class A8 and Class F8, respectively. The fund will introduce the following new classes of units: A0, A3, A5, F0, F3 and F5. Each of the classes will have varying target distribution rates. The current target distribution rate for Class A3 and F3 units is $0.03 per unit per month. The current target distribution rate for Class A5 and F5 units is $0.05 per unit per month. The current target distribution rate for Class A8 and F8 Units is $0.08 per unit per month. There is no target distribution for Class A0 and F0 units.
imaxx Canadian Dividend Plus Fund
The existing Class A and Class F of the imaxx Canadian Dividend Plus fund will be renamed Class A4 and Class F4, respectively. The imaxx Canadian Dividend Plus Fund will introduce Class A0 and Class F0 units. Each of the classes of this fund will have varying target distribution rates. The current target distribution rate for Class A4 and F4 units is $0.04 per unit per month. There is no target distribution for Class A0 and F0 units.
About Foresters Financial Investment Management Company of Canada Inc.
Foresters Financial Investment Management Company of Canada Inc. offers six imaxxFunds™ to Canadian investors – featuring core fund offerings from an investment manager with a proven performance track record. An affiliate, Foresters Asset Management Inc., oversees approximately $10 billion1 in retail, institutional, third party and asset liability matching investments, and is the portfolio manager of the imaxx mutual funds.
About Foresters Financial
Foresters Financial™ is an international financial services provider with more than three million clients and members in Canada, the United States and the United Kingdom. Foresters Financial provides investment, life insurance, savings and retirement solutions that help families achieve their financial goals and make a lasting difference in their lives and communities.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurances that the Fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the Fund will be returned to you. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Copyright © Foresters Financial Investment Management Company of Canada Inc. 2017. All rights reserved.
Foresters Financial and Foresters are trade names and trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9) and its subsidiaries.
For further information, please contact your financial advisor or call Andrew Berwick, VP, Marketing at Foresters Financial Investment Management Company of Canada Inc., 800-983-6439, or visit our website at imaxxwealth.com.