AGF, Eaton Vance launch two new funds

AGF Management Limited has teamed up with Eaton Vance Corp. to launch new mutual funds in Canada and the U.S. that combine the investment management and distribution strengths of the two companies.

In Canada, the AGF Floating Rate Income Fund will be sub-advised by Eaton Vance Management, and managed by Scott Page, head of EVM’s bank loan investment group, and Craig Russ, director of bank loan research.

The fund seeks to earn high levels of current income by investing primarily in floating-rate senior loans and other floating-rate debt securities of companies domiciled in the U.S.

“At AGF we believe that the floating-rate market provides great opportunities for Canadian investors, especially with uncertainty in interest rates and the need to diversify income investments,” said Blake C. Goldring, chairman and CEO of AGF Management. “We are pleased to partner with Eaton Vance, a firm that brings extensive experience and a proven track record in loan investing to the Canadian market.”

EVM is one of the world’s largest and most experienced investors in floating-rate bank loans, with $24.7 billion in assets under management.

In the U.S., the Eaton Vance Global Natural Resources Fund will be sub-advised by AGF Investments America Inc., a wholly owned subsidiary of AGF. The fun is led by Robert Lyon and the AGF Global Resources team.

“We are pleased to introduce AGF’s global natural resource management capabilities to the U.S. fund marketplace,” said Thomas E. Faust Jr., chairman and CEO of Eaton Vance. “Canada is home to many of the world’s leading resource companies, providing AGF with close access to the most current thinking and best opportunities in natural resource investing.”

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