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(July 4, 2008) Hartford Investments Canada announced Friday that it was launching a new Global High-Income Fund, and T-unit options on eight of its other funds.

Laurie Davis, Hartford’s president, says the new additions will “address the need for a predictable, tax-efficient cash stream for Canadians in their retirement years.”

Investors who purchase the T-unit option will get a 6% monthly distribution as Return on Capital. While some companies distribute capital gains or income with their payouts, the company says its distributions are 100% ROC.

The Global High-Income Fund will provide clients with a “high level of current income, with the potential for capital appreciation,” says the company. The portfolio will consist of a diversified bundle of global fixed income.

“This is a great fund for investors looking for high income and a margin of safety” says Davis. “With diversified high yield and investment grade quality in one package, it really is the best of both fixed-income worlds.”

The company is also making other changes, including streamlining and redesignating Hartford Investments’ class structure to create a B-class and T(B)-class option.

As well, they will offer a premium yield rate of 5% on the Hartford DCA Advantage Program six-month series units.

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IA Clarington replaces income manager

(July 4, 2008) IA Clarington Investments has named Catapult Financial Management as sub-advisor to IA Clarington Tactical Income Fund, renaming the fund IA Clarington Income Trust Fund, effective July 4, 2008.

The investment strategy of the Tactical Income Fund will be amended to allow it to invest roughly two-thirds of its portfolio in equity securities and trust units and about one third in fixed income securities, cash and cash equivalents.

The portfolio management team will be headed by Ben Cheng, and will also manage the IA Clarington Global Income Fund, effective September 15, 2008.

Cheng, who is president of Catapult’s parent company, Aston Hill, will be backed up by Joanne Hruska, president of Catapult.

“We are very pleased to add Ben to our roster of portfolio managers, further demonstrating our commitment to offering our clients access to leading money managers and a diverse range of products to meet their income needs,” said Eric Frape, senior vice-president, product and business development at IA Clarington. “Ben is a proven and highly successful manager with a strong track record in balanced mandates that further solidifies our capabilities in the income fund category.”

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Counsel Wealth names new small cap advisor

(July 4, 2008) Counsel Wealth Management has named New York-based GLG Inc. as portfolio sub-advisor for Counsel Select Small Cap, effective August 20, 2008.

GLG will manage the fund’s international small cap equity holdings, replacing Epoch Investment Partners.

(07/04/08)