Briefly:

(January 8, 2007) AIC Limited has added two new products to its fund family: AIC World Financial Infrastructure Income and Growth Fund and AIC Global Premium Dividend Income Fund.

AIC World Financial Infrastructure Income and Growth Fund is designed for investors who seek capital growth and exposure to companies active in the financial services sector located in countries throughout the world, the company said in a release.

AIC Global Premium Dividend Income Fund is intended for investors looking for current income and capital appreciation through exposure to equity securities worldwide.

“AIC has designed these two new funds to respond to those advisors and investors who are looking for quality products that deliver a tax-efficient distribution on an annual or monthly basis,” said AIC CEO Jonathan Wellum.

AIC Global Premium Dividend Income Fund offers a 6% annual tax-efficient distribution through investments in premium quality businesses with a weighted average Standard & Poor’s credit rating of A, across a number of sectors, while AIC World Financial Infrastructure Income & Growth Fund offers a 5% annual tax-efficient distribution by uniquely focusing on those companies that underpin the financial services and wealth management sector, Wellum added.

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IA Clarington lowers fees on F-class funds

(January 8, 2007) IA Clarington Investments is lowering fees on a number of its F-class funds effective immediately and introducing F-class versions on three funds.

The 19 funds affected include Clarington Canadian Dividend Fund, Clarington Canadian Income Fund, Clarington Canadian Balanced Fund, and Clarington Canadian Equity Fund, as well as several global funds.

Starting January 15, IA Dividend Growth Fund, R Canadian Smaller Companies Fund and R Global Value Fund will also be available in F-class versions.

“Fee-based accounts represent an important and growing market segment, and we believe these changes enhance our lineup for fee-based advisors, giving them greater product selection and highly competitive fees within the IA Clarington fund family. The higher investment levels and reduced service requirements on fee-based accounts create cost efficiencies, which we are passing on to our clients,” said Eric Frape, IA Clarington’s vice-president of product management.

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Trio of TD funds now available in Advisor and F-class versions

(January 8, 2007) TD Asset Management is offering three of its funds — TD Monthly High Income Fund, TD North American Dividend Fund and TD Global Equity Advantage Portfolio — in Advisor and F-class units.

“We aim to continually address the needs of advisors and investors to help them achieve their goals,” said Timothy Pinnington, president of TD Mutual Funds. “With the addition of these new series, our product offering will provide investors with a broader range of investment opportunities.”

TD Monthly High Income Fund provides investors with exposure to dividend-paying equities and other income-producing securities and is managed in-house by TD’s fixed income and equity income teams. TD North American Dividend Fund provides exposure to dividend-paying equity securities and other income-producing instruments from Canada and the U.S.

TD Global Equity Advantage Portfolio provides exposure to a diversified portfolio of global equity securities, investing in five TD funds using several investment managers, including Brandywine Global Investment Management, LLC, Morgan Stanley Investment Management, OppenheimerFunds and T. Rowe Price International.

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Businesses positive about coming year

(January 8, 2007) Canadian businesses expect sales in 2007 to be a little better than last year, according to a survey released today by the Bank of Canada.

“On balance, businesses expect their sales over the next 12 months to increase at a rate slightly above that posted during the preceding 12 months,” says the central bank’s winter Business Outlook Survey. “Hiring and investment activity have not changed significantly since the last survey.”

Firms in Central and Eastern Canada expect an improvement in their sales growth, perhaps in part due to the loonie’s recent decline. Companies in Western Canada do not expect to surpass the recent high rates of growth, the bank noted in the report.

Businesses also seem little concerned about inflation, with most expecting the CPI to remain within the bank’s target range of 1% to 3%.

(01/08/07)