News Releases

Guardian Group of Funds Ltd. (GGOF) has launched GGOF Floating Rate Income Fund, a mutual fund that provides exposure to short-term interest rates and a high level of Canadian dollar interest income in line with short-term floating rate instruments with a duration of less than 365 days.

GGOF Floating Rate Income Fund will achieve its objectives in three distinct ways: (1) entering into interest rate swaps; (2) entering into credit default swaps; and (3) investing in floating rate bank loans and notes.

“Through direct investments and by using instruments that create floating rate streams of interest income, we’re able to offer Canadian investors a product that offers protection against short-term interest rate risk, while paying a high level of current income,” said Gavin Graham, Vice-President and Director of Investments, Guardian Group of Funds.

The Fund will be managed by Steve Kearns of Guardian Capital LP (GCLP). Mr. Kearns also manages GGOF Canadian High Yield Bond Fund and co-manages GGOF Canadian Diversified Monthly Income Fund, GGOF Resource Fund and GGOF Canadian Balanced Fund. Guardian Capital LP currently manages $15.8 billion in assets and is well known for its fixed income management. GCLP currently manages fixed income mandates for eight other GGOF funds totaling over $4.0 billion in assets.

GGOF provides investors with a full product line of 29 mutual funds, diversified by asset class, geographic region and investment style. GGOF, with $5.4 billion of mutual fund assets under management at July 29, 2005, offers its funds exclusively through financial intermediaries.

GGOF is a member of BMO Financial Group and part of the organization’s Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and has total assets under management and administration and term investments of $290 billion at April 30, 2005.

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