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(September 10, 2007) On Monday, Criterion announced that it is launching Canada’s first global clean energy fund. The Criterion Global Clean Energy Fund will invest in top businesses “at each stage of the transition to cleaner energy,” the company said in a release.

Targeted companies include firms in the resource, tech, equipment, infrastructure and energy efficiency fields that contribute to or benefit from using less carbon-intensive energy. Companies that focus on carbon-free energy, such as solar, wind or hydroelectric power, and low-carbon energy will also be looked at.

“The drive for clean energy is a global theme that’s here to stay, offering a powerful investment opportunity for Canadian financial advisors and their clients,” says Ian McPherson, president of Criterion. “Investors now have the opportunity to capitalize on the global wake-up call to reduce carbon emissions.”

The Global Clean Energy Fund will be available as both a currency-hedged and unhedged solution. The RRSP-eligible fund will be available through licensed financial advisors across the country, with a minimum $500 investment.

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RBC launches new environmentally friendly initiative

(September 10, 2007) So your client wants to save the environment but doesn’t know how? RBC’s new “make a statement with your statement” initiative could be the answer.

The bank announced Monday that it is embarking on a fund-raising campaign that will see $5 donated to the Nature Conservancy of Canada for every customer that switches from paper to online statements.

“Opting for electronic statements provides a great opportunity for our clients to make their own statement about reducing their impact on the environment,” says Dave McKay, executive vice-president, Personal Financial Services. “Certainly at RBC, we still have a lot of work to do in the area of reducing paper, and it’s an ongoing priority for us. We know we can’t do everything at once, but we believe every step counts.”

The bank hopes to raise $1 million through this program.

Home buyers and renovators can also expect some savings from RBC through its new “grow an energy-efficient home” program. This initiative allows all new RBC Homeline Plan clients an opportunity to receive a $300 rebate on a home energy audit and a chance to win $25,000.

Other environmentally friendly programs that the bank announced Monday include donating $50 to the NCC for every hybrid car financed through RBC, and a discount of $25 for Ontario and Alberta residents who buy renewable energy through Bullfrog Power.

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CI, Scotiabank offer new deposit note

(September 10, 2007) On Monday CI Investments announced that it has launched a new deposit note with Scotiabank.

The Bank of Nova Scotia–CI Performer Deposit Notes, Series 2, offers principal protection, monthly income and exposure to a diverse portfolio of global dividend-paying companies.

The deposit notes come in two series: yield and return of capital.

The former is constructed to add income and growth potential to registered portfolios, while the latter is for non-registered accounts.

The notes are being launched with a 125% exposure to the CI Global High Dividend Advantage Fund, an income-oriented global equity fund, and returns depend on the performance of this fund.

“The deposit notes offer income-seeking investors an attractive package, including monthly distributions, tax efficiency, global diversification and the benefits of leverage, while protecting their principal,” says David R. McBain, senior vice-president of CI Investments.

Monthly distributions are paid with an annual target of 60 cents a unit, which is an annual yield of 5.93%.

The notes are eligible for plans through financial advisors until October 24, 2007, and cost $100 per note, with a minimum investment of $5,000.

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Manulife introduces five new funds

(September 10, 2007) Manulife Mutual Funds announced Monday that it is re-branding some funds, introducing five new mandates and adding a tax-efficient fund class for unitholders.

The new fund class is of the T-series variety, which gives investors a monthly cash flow through distributions. Nine funds, including the company’s Global Monthly Income Fund and Core Balanced Fund, will offer the T Class structure.

Manulife’s five new funds include the Real Return Strategy Fund, which is a core pension-style investment fund, and the Global Tactical Fund, which combines strategic asset allocation and tactical asset mixes to give a broad exposure to global equity markets.

The firm is also launching the Global Leaders class, which focuses on the best growth companies in each sector around the world, and the Emerging Markets Fund, which utilizes the growth potential of these markets.

Finally, the Manulife European Opportunities Fund will combine the “stability of established European countries with the growth potential of emerging countries of Eastern Europe to create a focused portfolio of the manager’s ‘best ideas’ in the region,” says the company.

Manulife is also re-branding the Elliott & Page and Manulife Investments Exchange Funds Corp. fund families, under the Manulife Mutual Funds banner.

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Northern Rivers reveals two new funds

(September 10, 2007) Toronto-based Northern Rivers Capital Management is expanding, with the launch of two new mutual funds.

The Northern Rivers Evolution Fund, which carries a minimum entry level of $15,000, will be managed by Hugh Cleland and Alex Ruus, two of the company’s top-performing portfolio managers. The fund focuses on mid- and large-cap stocks, mostly of North American companies.

The other new fund, the Northern Rivers Conservative Growth Fund, is actually a re-launch. This version of the two-year-old fund will be RRSP-eligible and available through investment dealers. The fund is diversified by both capitalization range and economic sector.

(09/10/07)