TORONTO, June 12, 2024 (GLOBE NEWSWIRE) --
Special meetings of securityholders of AGF All World Tax Advantage Group Limited and the following Funds (other than Series O, Q, W, and ETF Series) were held on June 12, 2024:
| AGF AMERICAN GROWTH FUND AGF CANADIAN DIVIDEND INCOME FUND AGF CANADIAN MONEY MARKET FUND AGF CANADIAN SMALL CAP FUND AGF ELEMENTS BALANCED PORTFOLIO AGF ELEMENTS CONSERVATIVE PORTFOLIO AGF ELEMENTS GLOBAL PORTFOLIO AGF ELEMENTS GROWTH PORTFOLIO AGF EMERGING MARKETS BOND FUND AGF EMERGING MARKETS FUND AGF EQUITY INCOME FUND AGF EUROPEAN EQUITY FUND AGF FIXED INCOME PLUS FUND AGF FLOATING RATE INCOME FUND | AGF GLOBAL CONVERTIBLE BOND FUND AGF GLOBAL CORPORATE BOND FUND AGF GLOBAL DIVIDEND FUND AGF GLOBAL EQUITY FUND AGF GLOBAL GROWTH BALANCED FUND AGF GLOBAL REAL ASSETS FUND AGF GLOBAL SELECT FUND AGF GLOBAL STRATEGIC INCOME FUND (FORMERLY, AGF STRATEGIC INCOME FUND) AGF GLOBAL SUSTAINABLE BALANCED FUND AGF GLOBAL SUSTAINABLE GROWTH EQUITY FUND AGF GLOBAL YIELD FUND AGF NORTH AMERICAN DIVIDEND INCOME FUND AGF TOTAL RETURN BOND FUND AGF U.S. SMALL-MID CAP FUND |
Following the special meetings of securityholders, AGF Investments Inc. (AGF Investments) today announced that securityholders approved a resolution to adopt the fixed rate annual administration fee to replace certain operating expenses of each applicable series of the Funds.
Each series other than Series O, Q, W, and ETF Series of each Fund currently pays a management fee, an administration fee relating to registrar and transfer agency services (the "Transfer Agency Administration Fee") and other operating expenses, which make up a large portion of the management expense ratio (the "MER") of the Fund. The MER is expressed as an annual percentage of the total net asset value of the Fund. While investors do not pay the management fee, the Transfer Agency Administration Fee and operating expenses directly, these affect investors because they reduce the returns of the Fund.
As a result of the resolution, AGF Investments will now pay for all the operating expenses (the "Operating Expenses") of each Fund other than "Certain Fund Costs" in exchange for the payment by the Fund of an annual fixed rate administration fee (the "Administration Fee") with respect to each series of the Fund, and in return, the Transfer Agency Administration Fee will be eliminated.
The administration fee proposal is expected to be implemented on or about October 1, 2024, or such later date as AGF Investments may consider more appropriate.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.
AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm's collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.
Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $48 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
About AGF Investments
AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.
AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.
AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.
This information is not intended to provide legal, accounting, tax, investment, financial, or other advice, and should not be relied upon for providing such advice. Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.
Media Contact
Amanda Marchment
Director, Corporate Communications
416-865-4160
amanda.marchment@agf.com
