NexGen Financial Corporation Announces April Sales and Assets Under Management (NFX: TSX.V)

    




 TORONTO, May 7, 2012 /CNW/ - NexGen Financial Corporation ("NexGen" or the "Company") today reported  total mutual fund net new money during the month ended April 30, 2012  of -$0.6 million compared to $7.1 million for the month ended March 31,  2012.  Total assets under management were $942.6 million at April 30,  2012 compared to $948.6 million at March 31, 2012, up 5.5% from $893.7  million at April 30, 2011.  

 On April 30, 2012, NexGen filed its annual fund prospectus renewal.  Following a thorough review of its fund line up and distribution rates,  NexGen has made the following additions and changes. 

 A new Corporate Bond Fund mandate, to be sub advised by Baker Gilmore, a  Montreal-based Canadian fixed income manager, was included in the  filing which, once approved by the Regulator, is expected to be  available for distribution in June in eligible Canadian jurisdictions.   "The Corporate Bond Fund launch is in response to advisor demand for  additional fixed income product on which we have been able,  historically, to add value though our unique tax structure", said  Laurie Munro, President and CEO of NexGen. 

 Also as part of that filing, NexGen will adjust the distribution rate  for both the Return of Capital Class and the Dividend Tax Credit Class  of each of NexGen Canadian Dividend and Income Tax Managed Fund, NexGen  Canadian Growth and Income Tax Managed Fund and NexGen North American  Small/Mid Cap Tax Managed Fund from: (i)  $0.75 per security annually  ($0.0625 per security monthly) to $0.30 per security annually ($0.025  per security monthly) for the Return of Capital Class;  and (ii) $0.60  per security annually ($0.050 per security monthly) to $0.30 per  security annually ($0.025 per security monthly) for the Dividend Tax  Credit Class. The adjustment of the distribution rate was made to bring  the rate down to a level that management views will be sustainable for  the long term. 




     __________________________________________
    |                  |April|March|    April  |
    |SALES ($ Million) |2012 |2012 |    2011   |
    |__________________|_____|_____|___________|
    |GROSS SALES       |14.8 |23.4 |     26.5  |
    |__________________|_____|_____|___________|
    |REDEMPTIONS       |15.4 |16.3 |     17.9  |
    |__________________|_____|_____|___________|
    |NET SALES         |-0.6 | 7.1 |      8.5  |
    |__________________|_____|_____|___________|
    |                                          |
    |__________________________________________|
    |ASSETS ($ Million)|     |     |     |% YOY|
    |__________________|_____|_____|_____|_____|
    |TOTAL AUM         |942.6|948.6|893.7| 5.5%|
    |__________________|_____|_____|_____|_____|





  

 NexGen Financial Corporation was founded to develop value added investment solutions for financial  advisors and their clients. The firm is focused on the creation of  innovative investment products and services that meet the needs of  Canadians seeking more tax efficient investment opportunities and  greater control over the tax treatment of their investments. Managed by  strong investment professionals, NexGen's unique Registered and  Tax-Managed Fund offerings are well positioned as attractive investment  opportunities for Canadians looking to alleviate the tax costs  associated with traditional investment solutions.  

 Cautionary Statement on Forward Looking Information 

 This document may include forward looking statements within the meaning  of securities laws. Forward looking statements involve certain risks  and uncertainties that could cause actual results to differ materially  from what is currently expected. Accordingly, readers should not place  undue reliance on forward looking statements. 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in policies of the TSX Venture Exchange) accepts  responsibility for the adequacy of this release. 

   

NexGen Financial Corporation


CONTACT:  Laurie Munro, President & CEO  416-775-3705    [e-mail] Financial Corporation36 Toronto Street, Suite 1070Toronto, ON  M5C 2C5 


    

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