Canoe Financial Partners with JP Morgan to Launch U.S. and Global Equity Income Mutual Funds
CALGARY, November 20, 2013 – Canoe Financial LP, one of the fastest growing mutual fund companies in Canada, announced today it has teamed up with JPMorgan Asset Management (Canada) Inc. to introduce two new mutual funds, continuing the expansion of Canoe’s offering to investors.
The new funds are Canoe U.S. Equity Income Class and Canoe Global Equity Income Class. JPMorgan Asset Management (Canada) Inc. is sub-advisor to both funds and is advised by J.P. Morgan Investment Management Inc. of New York*.
“These new funds reinforce Canoe’s reputation for serving Canadian investors by bringing together outstanding portfolio managers and top-tier financial advisors,” said W. Brett Wilson, chairman of Canoe Mutual Funds. “We can offer the global investment expertise of JPMorgan in Canada and these are the only funds of their type in the country to be sub-advised by JPMorgan. It’s a winning partnership.”
Michael Henderson, executive director and head of sub-advisory relationships for JPMorgan Asset Management (Canada) Inc. said: “Canoe Financial is a logical choice for us as we expand our presence in Canada. We share similar values and Canoe’s growth is evidence of its commitment to service and unparalleled sales team, which we see as vital in a competitive marketplace.”
About the New Canoe Funds:
Canoe U.S. Equity Income Class
The fund invests in large cap, high-quality and dividend-paying companies with the goal of achieving total return, monthly income and lower volatility. The fund offers greater diversification both geographically and through broader exposure to sectors such as Health Care, Consumer Products, and Information Technology, which are under-represented on the Toronto Stock Exchange.
The J.P. Morgan Investment Management team is led by Clare Hart, managing director, and Jonathan K.L. Simon, managing director, who manage similar funds for J.P. Morgan’s U.S. Equity Group.
Canoe Global Equity Income Class
The fund offers diversification by investing in high-quality, dividend paying companies around the world, but with an emphasis on developed market economies. Its active management approach has the same goals of long-term returns and mitigating risk as the Canoe U.S. Equity Income Fund, but invests at least 40% of its assets outside the United States.
The J.P. Morgan Investment Management portfolio managers are Gerd Woort-Menker CFA, managing director, and James Davidson CFA, managing director, who manage similar funds for J.P. Morgan’s Global Equities Team.
“Both of these new funds are managed by experienced teams supported by more than 200 research analysts around the world. They look for companies that are under-valued, well-managed, financially strong and capable of paying sustainable above-average dividend yields,” said Nevin G. Markwart, CFA, president and chief executive officer of Canoe Financial. “Their research-driven approach offers investors the opportunity to diversify and participate in growing sectors and countries through managers with deep knowledge and a commitment to analyzing and minimizing risk. We are very pleased to add these funds to the Canoe Financial group of funds.”
About Canoe Financial LP
Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its ‘GO CANADA!’ investment thesis reflects Canoe’s strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada’s sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.
Canoe Financial is one of Canada’s fastest-growing mutual fund companies and currently manages approximately $1.9 billion in assets as at October 31, 2013 through its investment products. To learn more, visit www.canoefinancial.com.
*JPMorgan Asset Management (Canada) Inc. has retained J.P. Morgan Investment Management Inc. as an advisor in respect of the investment portfolio for Canoe U.S. Equity Income Class and Canoe Global Equity Income Class. J.P. Morgan Investment Management Inc. acts as an unregistered sub-advisor to the funds further to relief granted in February 2005 by the Alberta Securities Commission.
Important information regarding the Funds, including conditions of purchase, investment strategy, distribution policy, management fees, and expenses, are set out in the Funds' Simplified Prospectus and Annual Information Form which are available on Canoe Financial’s website at www.canoefinancial.com or SEDAR at www.sedar.com. 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 guaranteed and their values change frequently. These funds are new and there is no history of performance associated with these Funds. This communication is for information purposes only and is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document which should be read carefully before making any investment. Investors should consult their Investment Advisor for complete details and risk factors on specific strategies and various investment products.
This communication may contain forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated, and should not be unduly relied upon. Canoe Financial does not undertake any obligation to publicly update or revise any forward-looking statements. Market conditions may change and Canoe Financial accepts no responsibility for individual investment decisions arising from the use or reliance on the information contained herein.