No real opinions. The prospectus shows that, once the offering closes, the only fees are a management fee of 0.5% and operating expenses which look like they might range from 0.25-0.4% annually. With GST, total costs might be around 1% or a bit below. Its regular bond mutual fund carries fees of just over 1% and it has underperformed the bond index by less than its fees (which means it outperformed before fees) over ten years.Merry Xmas everyone. Ridgewood has just issued an investment grade bond fund. Our advisor is recommending it. Any opinions?
TORONTO, March 25 /CNW/ - Ridgewood Capital Asset Management Inc., the manager and trustee of Ridgewood Canadian Bond Fund (the "Fund"), announced today that at a special meeting of the Fund, unitholders approved a change in investment objective of the Fund. In accordance with the new investment objective, the Fund will now be permitted to invest in corporate bonds with a minimum rating of "BBB" (or its equivalent), rather than "A". The change will take effect after the close of business today.
For further information: John H. Simpson, C.F.A., Managing Director, Ridgewood Capital Asset Management Inc., (416) 479-2751