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Renaissance European Fund [Class A]
Investment Objective
To achieve superior long-term investment returns through capital growth and, to a lesser extent, income through investments in securities primarily of issuers located in (or that conduct a significant amount of their business in) Europe.
Fund Specifications
Minimum Initial Investment:
Lump Sum
Initial: $500
Subsequent: $100
Distribution of Earnings:
Distributions of net income and net realized capital gains occur annually in December.
Pre-Authorized Chequing Investment (PAC) or Group RRSP:
$50 minimum investment for monthly, quarterly, semi-annual or annual deposit.
Systematic Withdrawal Plan:
With minimum initial account value of $10,000. Withdrawals may be made monthly, quarterly, semi-annually or annually. $50 minimum.
Annual Management Fee (excluding applicable taxes): 2.00%
Management Expense Ratio (including applicable taxes) as at August 31, 2009: 2.70%†
| Front-End Load Option | ATL917 |
| Back-End Load Option | ATL163 |
| Low Load Option | ATL673 |
| Inception Date: | November 24, 1993 |
| Assets Under Management (000’s) As at: |
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Portfolio Sub-Advisors
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BlackRock Investment Management International Limited |
BlackRock is a premier provider of global investment management, risk management and advisory services. The firm manages portfolios and provides investment solutions for a broad array of investors that include corporate, public, and union pension plans, insurance companies, mutual funds, endowments, foundations, charities, corporations, official institutions and individuals worldwide. |
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James MacMillan, BlackRock Investment Management International Limited
James MacMillan is a managing director of BlackRock, Inc. Prior to joining BlackRock in 2006, he was a managing director of MLIM from 2000 to 2006. He has been a portfolio manager with BlackRock or MLIM for over five years.
Performance and Volatility
| Performance | |||||||
| 3 mo | 6 mo | 1 yr | 3 yrs | 5 yrs | 10 yrs | YTD | Since Inception |
| (13.8%) | (19.2%) | (9.1%) | (16.6%) | (4.5%) | (3.9%) | (19.2%) | 3.3% |
As at:
| Calendar Year Performance | ||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
| 12.1% | (31.4%) | (5.5%) | 30.4% | 5.1% | 8.7% | 9.4% |
| Investment Performance |
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Value of $10,000 invested since inception The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the fund or returns on investment in the fund. |
†The MER quoted above is annualized as at August 31, 2009. The MER would have been 3.75% had the manager not waived some management fees and/or absorbed some operating expenses. This will be reviewed annually by the Manager.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Renaissance Investments family of funds simplified prospectus before investing. The indicated rates of return are the historical annual compounded total returns for the units, including changes in unit value and reinvestment of all distributions, but do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer, nor are they guaranteed. There can be no assurance that a money market fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment will be returned to you. The values of many mutual funds change frequently. Past performance may not be repeated.