Corporate class funds have taken a hit in the 2013 budget. AGF has capped contributions to its High Income Class Fund that converted income to capital gains - the use of these corporate class funds is a tax deferral strategy for those in high income tax brackets."We have undertaken this temporary measure in order to protect the interests of our investors," said Gordon Forrester, executive vice president, marketing and product, head of retail. "Until we receive clarification on these new regulations, we believe the prudent move for us is to protect existing shareholders from any potential uncertainty."
