By Staff | March 28, 2007 | Last updated on March 28, 2007
3 min read
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(March 28, 2007) Dynamic Funds is launching the Dynamic RetirementEdge Income Portfolios, a retirement solution that will offer three options designed to meet the financial needs of investors at different stages of life.

These income-yielding deposit notes incorporate seven of Dynamic’s mutual funds and have a fixed low annual fee. Offering steady capital distributions, indexed to inflation, RetirementEdge Income Portfolios will also attempt to provide the growth potential of equities, a reliable cash flow, tax deferral and non-taxable capital distributions in retirement as well as automatic asset allocation that grows more conservative over time.

“Traditional retirement solutions were designed to meet the needs of a different generation,” says David Goodman, CEO, Dynamic Funds. “Today, Canadians are enjoying a longer, more active life and need a dependable income stream that does not compromise the ongoing growth of their investments. The Dynamic RetirementEdge Income Portfolios support the complex needs of investors as they prepare to draw on their savings in retirement.”

Three versions of the notes are available to investors:

  • The Current Pay Notes, which mature in 2022, offer monthly distributions that begin immediately, at an annual rate of 6.6% of the original deposit amount, indexed to inflation.
  • The Deferred 5 Notes, which mature in 2027, offer monthly distributions that begin in year six, at an annual rate of 6.6% of the higher of current market value or original deposit amount, indexed to inflation.
  • The Deferred 10 Notes, which will mature in 2032, have monthly distributions that begin in year 11, at an annual rate of 6.6% of the higher of current market value or original deposit amount, indexed to inflation.

Dynamic said the deposit notes will be issued by Bank of Montreal on or about May 24, 2007, and are 100% eligible for registered plans.

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RBC, Clarington offer new dividend deposit notes

(March 28, 2007) RBC on Wednesday launched the RBC IA Clarington Global Dividend Deposit Notes Series 1 and 2, which are geared toward risk-averse retail investors seeking greater diversity in their portfolios.

RBC said both notes will have their principal protected and will be linked to the Clarington Global Dividend Fund, which invests around the world in companies with stable, and preferably rising, dividend yields. The fund is managed by ABN AMRO.

Series 1 notes will provide monthly coupons equivalent to an indicative distribution rate of 5.8%, while Series 2 notes will provide a similar indicative yield, but the distributions will be treated as return of capital.

The notes are available to self-directed investors until May 4, 2007, and have a maturity date of December 9, 2014.

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Oxford Investments sanctioned by ASC for role in illegal trades

(March 28, 2007) The Alberta Securities Commission panel has found Oxford Investments Holdings complicit in the illegal trades conducted by its associates Joseph Edward Allen and Michael Bernard Donaghy.

In its decision, the ASC panel also concluded that Allen made misrepresentations to investors and engaged in unfair practice by putting unreasonable pressure on an investor to purchase Oxford securities.

The ASC has permanently prohibited Allen from trading securities and from using exemptions under Alberta securities laws, and ordered Allen to pay an administrative penalty of $100,000, as well as costs.

Additionally, the ASC found Oxford and Donaghy guilty of filing documents with the ASC that contained misrepresentations. The ASC panel barred Oxford and Donaghy from using exemptions until December 15, 2007, and ordered them to pay administrative penalties of $20,000 each, as well as costs.

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(03/28/07) staff


The staff of have been covering news for financial advisors since 1998.