Tangerine launches index-style global dividend fund

Morningstar Canada 3 November, 2016 | 5:00PM
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The Tangerine family of index-style mutual funds today announced the launch of Tangerine Dividend Portfolio, which provides globally diversified exposure to dividend-paying companies domiciled in developed markets.

The portfolio strategy is to maintain a 50% weighting in Canada, and 25% in each of the U.S. and overseas equities. The fund obtains that exposure by tracking the performance of the MSCI Canada High Dividend Yield Index, the MSCI USA High Dividend Yield Index and the MSCI EAFE High Dividend Yield Index. According to the prospectus, the portfolio will be rebalanced when any of the three geographic allocations is higher or lower than the target weighting by 1.5 percentage points.

The management-expense ratio is estimated to be 1.07%. This consists primarily of a management fee of 0.8% and a fixed 0.15% administration fee that covers most fund expenses.

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