Business
New "Top 20" Dividend Funds Focus on the Best Canadian, U.S. and European Dividend Paying Equities
Highstreet and Scotia Managed Companies introduce innovative dividend strategy TORONT...
About this update from Agf Management Limited Class B
[{"type":"text","content":"\n\n\n\n\n\nHighstreet and Scotia Managed Companies introduce innovative dividend\n strategy\n\n\nTORONTO, Feb. 19, 2013 /CNW/ - Scotia Managed Companies Administration Inc. and Highstreet Asset\n Management Inc. (Highstreet) are pleased to partner on their latest\n innovative investment product specifically designed to offer investors\n an attractive income stream with lower volatility. With Scotia Managed\n Companies as the manager and Highstreet as the portfolio manager and\n options advisor, the three new funds each invest in the 20\n highest-yielding large-cap companies in their respective markets.\n\n\nTop 20 Dividend Trust, Top 20 U.S. Dividend Trust and Top 20 Europe Dividend Trust, take the top-yielding equities from each market as defined by the\n S&P/TSX 60 Index in Canada, the Dow Jones Industrial Average in the\n U.S. and the Europe Dow in Europe. The income from the portfolios on\n each fund is supplemented with a limited covered call writing strategy\n managed by Highstreet to provide consistent distributions to\n unitholders. This suite of investment products features a low\n management fee of 0.50 per cent per annum with no service fees.\n\n\n\"The Top 20 strategy focuses on large, diversified and well-known\n companies and includes a rebalancing of the portfolio each quarter and\n a top-to-bottom reconstitution each year,\" said Brian McChesney, Chief\n Executive Officer of Scotia Managed Companies, a wholly owned\n subsidiary of Scotia Capital Inc. \"The products meet investor needs by\n targeting an attractive distribution of 7 per cent annually for Top 20\n Dividend Trust and an attractive tax-efficient distribution of 5 per\n cent annually for Top 20 U.S. Dividend Trust and 6 per cent annually\n for Top 20 Europe Dividend Trust.\"\n\n\nHighstreet, based in London, Ontario, serves as portfolio manager and\n options advisor for all three funds. Highstreet, a majority-owned\n subsidiary of AGF Management Limited, is pleased to partner with Scotia\n Managed Companies in launching new and innovative products for Canadian\n investors.\n\n\n\"We have a dedicated team of investment professionals that develop and\n continually refine in-house strategies such as these that deliver\n attractive levels of income in a low volatility framework,\" said Ben\n Legge, President & Chief Investment Officer, Highstreet ...