{"id":20446,"date":"2012-12-04T15:13:47","date_gmt":"2012-12-04T19:13:47","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=20446"},"modified":"2012-12-04T15:13:47","modified_gmt":"2012-12-04T19:13:47","slug":"altamira-preferred-equity-fund-launches-quietly","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=20446","title":{"rendered":"Altamira Preferred Equity Fund Launches Quietly"},"content":{"rendered":"

Many will remember that when Omega Preferred Equity Fund was closed to new investors<\/a>, it was also announced that National Bank would be starting a new fund with in-house management.<\/p>\n

It’s here, but it seems to be operating very quietly!<\/p>\n

The portfolio management firm is Fiera Sceptre Inc., which has a “strategic alliance” with and is partly owned by National Bank, as announced in February<\/a>. The portfolio manager is Catherine Payne<\/a>:<\/p>\n

Catherine Payne is a member of the Active Fixed Income team and is responsible for managing certain corporate bond, high yield bond, preferred share and convertible bond portfolios.<\/p>\n

Ms. Payne has 19 years of industry experience and has been with the firm and a predecessor since 2003. Prior experiences include positions as Portfolio Manager, Senior Credit Analyst, and Assistant Vice President at major Canadian investment management, credit rating and brokerage firms.<\/p>\n

Ms. Payne graduated from the University of Toronto with a Bachelor of Commerce (BComm). She later received the Chartered Financial Analyst (CFA) designation.<\/p><\/blockquote>\n

As is usually the case, there is lots of chatter about experience and not a line about performance.<\/p>\n

There are four classes to the fund<\/a>, three of them with an estimated MER of 1.50%, the F-Class with an estimate of 50bp. I am fascinated to see that NBC510, the Deferred Sales Charge option, pays the salesman a 5% commission on the sale with a trailer to follow. I’m in the wrong business!<\/p>\n

According to the Globe and Mail Fund Quote<\/a> the fund was 64% in cash on October 31, which I presume had more to do with start-up frictions than long-term asset allocation goals.<\/p>\n

I’ll keep an eye on the fund and report its performance together with those of my other competitors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Many will remember that when Omega Preferred Equity Fund was closed to new investors, it was also announced that National Bank would be starting a new fund with in-house management. It’s here, but it seems …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-20446","post","type-post","status-publish","format-standard","hentry","category-miscellaneous-news"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20446"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20446\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}