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Renaissance Millennium High Income Fund [Class A]
Investment Objective
To achieve the highest possible return that is consistent with a conservative fundamental investment philosophy through investment primarily in a balanced and diversified portfolio of Canadian income securities.
Fund Specifications
Minimum Initial Investment:
Lump Sum
Initial: $500
Subsequent: $100
Distribution of Earnings:
The Fund aims to distribute a consistent amount every month ($0.060 per unit). If the amount distributed exceeds the Fund’s net income and net realized capital gains, such excess will constitute a return of capital. The amount of distribution is not guaranteed and may change from time to time.
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 February 28, 2011: 2.52%†
| Front-End Load Option | ATL1879 |
| Back-End Load Option | ATL1880 |
| Low Load Option | ATL2880 |
| Inception Date: | February 13, 1997 |
| Assets Under Management (000’s) As at: |
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| Distribution Chart | |
| Date | Amount per Unit |
| 01/31/2011 | $0.060 |
Portfolio Sub-Advisors
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Morrison Williams Investment Management Ltd. |
Morrison Williams Investment Management Ltd. ("MWIM") was founded in 1992 by Barry A. Morrison and K. Leslie Williams. Both partners worked together for 10 years at a major Canadian investment counseling firm where they had been active as portfolio managers, marketing specialists and in client liaison. After leaving in the fall of 1991, they decided to start a new business, as they believed there was a market opportunity for a new firm offering a specialized, disciplined and service oriented approach to the discretionary management of investment funds. |
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Barry A. Morrison, Morrison Williams Investment Management
As Chairman and CEO, Barry A. Morrison founded Morrison Williams Investment Management in 1992. Prior to that, Mr. Morrison was the Senior Vice-President and Director at BGH Central Investment management from 1981 to 1991, a Portfolio Manager at MICC Investments from 1973 to 1978 and a Portfolio Manager, fixed Income and equity investments, at United Funds Management from 1971 to 1973. Between 1968 to1971, Mr. Morrison was a Security Analyst at Dominion Life Assurance.
Performance and Volatility
| Performance | |||||||
| 3 mo | 6 mo | 1 yr | 3 yrs | 5 yrs | 10 yrs | YTD | Since Inception |
| 7.6% | 2.0% | 7.6% | 15.2% | 2.0% | 8.0% | 7.6% | 8.4% |
As at:
| Calendar Year Performance | ||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 |
| 16.6% | 21.9% | (31.5%) | 5.3% | 2.9% | 24.6% | 16.6% |
| 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 February 28, 2011. The MER would have been 2.55% had the manager not waived some management fees and/or absorbed some operating expenses. This will be reviewed annually by the Manager.
The Fund aims to distribute a consistent amount every month. If the amount distributed exceeds the Fund's net income and net realized capital gains, such excess will constitute a return of capital. The amount of distribution is not guaranteed and may change from time to time.
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.