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Star fund manager leaves Dynamic

Star manager David Taylor has left the Dynamic fund family, the first to leave after Bank of Nova Scotia bought parent company DundeeWealth Inc. this year. Mr. Taylor, a value manager who runs billions of dollars in funds that include Dynamic Value Fund of Canada, will be replaced on most mandates by Cecilia Mo, who left Fidelity Investments Canada LLC. last week. It is not clear where Mr. Taylor will go . "Any time an entrepreneurial independent firm is acquired by a bank, you just know that something is going to change eventually," said Dan Hallett, an analyst with HighView Financial Group. "In time, the expectation by many of us in the industry is that bank ownership does not bode well longer term for the quality of the money manager."

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