Canada’s AGF launches global convertible fund to be managed by Acuity

New York, Jan. 5 – AGF Management Ltd. announced the launch of the AGF Global Convertible Bond Fund as a strategy to address low yields and rising rates.

The new fund will be managed by David Stonehouse, vice-president and portfolio manager at Acuity Investment Management Inc. Stonehouse will be supported by AGF’s fixed income team.

AGF said that the fund is aimed at investors looking to diversify beyond traditional bond investments in the current low yield environment.

“Today, investors are struggling to achieve acceptable bond returns and need alternative fixed-income solutions to diversify their portfolios to defend against a rise in rates,” said Kevin McCreadie, president and chief investment officer of AGF Investments Inc., in a news release.

“AGF Global Convertible Bond Fund offers the safety and diversification benefits of bonds with less exposure to interest-rate risk, while participating in equity market returns.”

AGF is a Toronto-based investment management firm.

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