Investeco Financial Corporation(IFC)has launched the global environmental sectors fund, which aims to provide long-term capital appreciation by investing primarily in publicly traded global securities that operate in the fast growing environmental sectors.
The fund aims to outperform broad global indices by investing in companies that operate in alternative power, water, natural and organic foods, and environmental technologies.
Subject to securities laws in the purchaser’s province of residence, units are offered in minimum initial investment amounts of $50,000 or $150,000 for investors who do not qualify as accredited investors.
Investeco is offering the fund with management fees, ranging from 1% to 1.5%. In addition, the company is introducing a unique 10% performance fee that will only be applied when an investor redeems units of the fund. Furthermore, the performance fee is only charged on any compounded annual rate of return an investor achieves in excess of 6%.
Units are available for sale in all provinces of Canada. The fund currently offers three classes of units: class “A” units, which are available to all investors; class “F” units, which are available to investors who participate in an eligible fee-based or wrap program with their registered dealer; and class “I” units, which are intended for large institutional investors. The first closing of subscriptions for units is expected to occur on Jan. 4, 2008. The fund will subsequently have monthly purchase and redemption trade dates.
IFC was created in 2007 to provide Canadian investors with investment exposure to publicly traded companies operating in the emerging global environmental economy.
Click here for more about “green issues” in the July issue of Benefits Canada.
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