Phillips, Hager & North Investment Management Ltd.

Phillips, Hager & North Investment Management Ltd.

October 03, 2005 09:00 ET

Launch of the PH&N Canadian Income Fund

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 3, 2005) - Phillips, Hager & North Investment Management Ltd. today announced the launch of the PH&N Canadian Income Fund. Comprising a diversified mix of Canadian equities and income trusts, with a small allocation to fixed income securities, this fund is designed for investors who are seeking a balance between capital preservation, growth and steady income.

"PH&N has a strong reputation for Canadian equity research and yield-enhancement strategies," said the firm's president, John Montalbano. "The Canadian Income Fund brings these strengths together in a low-fee package to benefit investors."

The PH&N Canadian Income Fund invests primarily in high-quality, dividend-paying Canadian equities and income trusts across a wide range of industries. Security selection is based on rigorous analysis performed by PH&N. For the selection of equities and income trusts, the fund management team draws on the resources of PH&N's Canadian equity research department, utilizing the investment style that has proven successful in PH&N's Canadian equity funds, including the PH&N Dividend Income Fund. The PH&N Canadian Income Fund may also invest in corporate bonds and convertible securities. The fund's overall asset mix reflects the management team's prevailing view of where the most compelling opportunities in the market are to be found.

Investors in the PH&N Canadian Income Fund will receive distributions on a monthly basis. This distribution may comprise dividend income, interest income and return of capital.

"We understand that many investors are looking for an opportunity to tap into the income trust market, but want the advantages that come with a diversified portfolio," said Mr. Montalbano, "and while they desire the benefit of active management, they understand the importance of a low fee. The Canadian Income Fund is well suited for income-seeking, cost-conscious investors."

The PH&N Canadian Income Fund is expected to grow due to new investment following its launch. After it reaches a reasonable size, the fund's normalized management expense ratio (MER) is expected to be approximately 1.25%. Among all funds in the Canadian Income Trust category, the average MER is 2.30%, while those in the Canadian Equity category have an average MER of 2.84% (source: GlobeFund).

To learn more about the PH&N Canadian Income Fund, investors can log on to or contact PH&N's Investment Funds Centre at 1-800-661-6141. As with all PH&N investment funds, a minimum initial investment of $1,000 is required. A minimum account size of $25,000 also applies.

Established in 1964, Phillips, Hager & North Investment Management Ltd. manages over $55 billion in investments on behalf of individuals, corporate and multi-employer pension plans, and non-profit organizations across Canada.

Commissions, trailing commissions, management fees and expenses may all be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

"Phillips, Hager & North" is the registered trade name for Phillips, Hager & North Investment Management Ltd. (PH&NIM) and its wholly-owned subsidiary Phillips, Hager & North Investment Funds Ltd. (PH&NIF). PH&NIM is the manager of the Phillips, Hager & North investment funds. PH&NIF is the principal distributor of the units of the funds.

Contact Information

  • Phillips, Hager & North Investment Management Ltd.
    Chris Dotson
    Manager, Corporate Development and Communications
    (604) 408-6009