oronto-based AGF Funds
has tweaked it product lineup. Among the changes: The firm dropped two subadvisors, renamed noe fund and slashed its fees on a third.
The subadvisors losing their duties were units of Nomura Asset Management
and Salomon Smith Barney
. In the case of both funds, AGF brought the portfolio management duties in-house. Three Nomura affiliates (Nomura Asset Management, Nomura Asset Management U.S.A and Nomura Asset Management Hong Kong) had subadvised the AGF Global Equity Class. Salomon Smith Barney was also subadvisor to the fund. Both firm's were terminated.
AGF also dropped Salomon as subadvisor on the AGF RSP International Equity Allocation Fund.
The firm also cut 25 basis points on the management and advisory fees it charges on the AGF Canadian Total Return Bond. The fees on the Mutual Fund Series units will be 150 basis points (from 175 bps) and the Series F fee wil be 100 bps (from 125 bps).
Finally, the firm renaimer the AGF Canadian High Income Fund as AGF Canadian Conservative Income Fund to better reflect the investment objectives of the fund.
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