AGF adjusts Harmony program

By Staff | October 28, 2011 | Last updated on October 28, 2011
1 min read

AGF Investments Inc. has announced changes to its Harmony program, including the addition of a tactical overlay on four of its mandates.

Effective on or about December 5, 2011 the investment strategies of the Harmony Canadian Equity Pool, Harmony Canadian Fixed Income Pool, Harmony U.S. Equity Pool and Harmony Overseas Equity Pool will feature a tactical overlay to take advantage of shorter-term market changes.

The investment objectives for these Pools remain the same and the strategic asset allocation of each of these pools will continue to be reviewed each quarter and rebalanced if necessary.

As a portfolio manager of these pools, AGF says this tactical overlay should enable it to accomplish more frequent and opportunistic changes to asset class weightings.

The manager will use ETFs in major asset classes, citing both cost efficiency and liquidity. The blend of active and passive strategies is similar to the investment strategy employed by many institutional investors

At the same time, the company has renamed the Harmony Balanced and Income Portfolio as the Harmony Yield Portfolio, with a revised investment strategy that attempts to achieve a yield greater than the Government of Canada 10-year bond yield.

These changes will be effective on or about Friday, October 28, 2011, pending regulatory approval of the amendments to the disclosure documentation.

Advisor.ca staff

Staff

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