(none)/images/flag/flag-gam-nameplate.png "Return to the globeandmail.com homepage")
Noteworthy — new funds, name changes, and manager changes
|
Noteworthy: May - July, 1999Thursday July 29, 1999AGF Management Limited has launched four new RSP funds.
Scudder MAXXUM partnership Scudder Canada Investors Services Ltd. and MAXXUM Fund Management Inc. have recently formed a partnership to become Scudder MAXXUM Co. As a result, all Scudder and MAXXUM groups of funds will be listed under the new partner company, Scudder MAXXUM Co. For details see http://www.scudder.ca/corpro.html. New Crystal Wealth Management fund Crystal Wealth Management System Ltd. has launched one new fund.
New ADA fund ADA Investments Inc. has launched one new Limited Partnership fund.
Monday July 26, 1999: New Assumption Life fundsThe following Assumption Life segregated funds are now available on globefund.com.
Thursday July 22, 1999: New Altamira fundsEffective July 21, 1999, Altamira Investment Services Inc. has launched 8 new funds.
Wednesday July 21, 1999Effective July 21, 1999, Mutual Life converted from a mutual insurance company owned by policy holders to a stock company owned by shareholders. Mutual Life will be changing its name to Clarica. As subsidiaries of Mutual Life, Mutual Diversico Limited and Mutual Investco Inc. will also be changing their names to Clarica Diversico Limited and Clarica Investco Inc. respectively. This change will also affect the mutual funds and segregated funds offered through Mutual. The new fund names are listed below. There will be no change to the fund management, investment objectives or policies for the funds.
Friday July 16, 1999: Centrepost fund name changesEffective July 16, 1999, there are five name changes for Centrepost Mutual Funds.
Tuesday July 15, 1999Complete TSE 35 index history on globefund.com globefund.com now has values since inception for the TSE 35 index (1978). This will increase the functionality of the charts when comparing funds with 10 or more years of history to the TSE 35, as well as enhance the statistics displayed in globefund.com's Fund Profile for funds in the Canadian Dividend class, which use the TSE 35 as a benchmark. Effective July 15, 1999, AIC Group of Funds announced the introduction of 10 new funds. AIC is offering six new RSP Funds:
AIC is also offering four new traditional mutual funds:
Effective July 9, 1999, Marc Goldfried will not be managing the Elliott & Page Active Bond Fund. Gary Stewart remains the lead portfolio manager for this fund. Tuesday July 6, 1999AIC Limited has launched one new fund.
Effective June 21, 1999, Derek Webb has replaced James Ellman for the responsibility of managing the AIM GT Global Theme Class Fund. Thursday July 1, 1999: Caldwell fund name changeEffective June 23, 1999, Caldwell Canadian Income Fund will be renamed to Caldwell Government Income Fund. Tuesday June 29, 1999Effective Monday, June 28, 1999, there are six name changes for Royal Mutual Funds.
Investors Group has launched one new fund.
Tuesday June 22, 1999Sogefonds MFQ Inc. has launched three new funds
Canso Canadian Equity fund closed As of June 16, 1999, Canso Canadian Equity Fund is closed to new investors. Monday June 21, 1999As part of the HSBC Group's global branding initiative, Hongkong Bank Securities Inc. and HSBC Asset Management Canada Ltd. will be changing their legal names and their mutual fund names. Effective June 21, 1999, company and fund names changes will be listed as follows:
Dynamic Israel Growth and Dynamic Latin American fund merger Effective June 18, 1999, Dynamic Israel Growth and Dynamic Latin American Fund will merge into Dynamic International Fund. The last pricing and listing date for these funds will be Friday, June 18, 1999. Friday June 18, 1999Fidelity Investments Canada Ltd. Inc. has launched two new funds
First Trust Canadian Trust has launched two new funds
Montrusco merged with Bolton Tremblay Montrusco Associates Inc. has merged with Bolton Tremblay to form a new entity called Montrusco Bolton. All Montrusco Select Funds and Quebec Growth Fund will be listed under the management of Montrusco Bolton. Wednesday June 16, 1999Welcome to the redesigned globefund.com! We've introduced a new logo and top navigation bar, simplified the news and added a new colour scheme. Click here for more on the new design. North Growth U.S. Equity offered by North Growth Management Ltd. is available on globefund.com. McLean Budden Private Bal Gwth McLean Budden Private Bal Gwth offered by McLean Budden Limited is available on globefund.com. Trimark Investment Mgmt. Inc. has launched two new funds.
SVC O'Donnell portfolio manager change SVC O'Donnell Funds Management Inc. has severed ties with Wayne Deans and Douglas Knight, of Deans Knight Capital Management Ltd. Of Vancouver, which managed O'Donnell Canadian Emerging Growth, O'Donnell High Income and O'Donnell U.S. High Income (US$). Specific managers have not been finalized. Spectrum United Fund manager changes Effective May 25th, 1999, Spectrum United's core Canadian equity fund, Spectrum United Canadian Equity Fund, with $1.6 billion in assets, will be managed by McLean Budden Limited. This fund will be managed by a team of investment specialists at McLean Budden led by Doug Mahaffy, President and C.E.O. In addition, Spectrum United Canadian Growth Fund will be uniquely positioned as a multi-manager, small-mid cap fund. The Canadian equity investment management will be split equally between Howson Tattersall Investment Counsel Limited and Mulvihill Capital Management Inc. Mercury Asset Management will manage the foreign equity component. Robert Tattersall, will be the lead portfolio manager for this fund. As well, Spectrum United Canadian Growth Fund will be re-opened effective May 25, 1999. Previous Managers Spectrum United Canadian Equity - Catherine (Kiki) Delaney (C.A. Delaney Capital Management Ltd.) Spectrum United Canadian Growth - Lynn Miller (C.A. Delaney Capital Management Ltd.) Wednesday June 9, 1999: New YMG fundYMG Capital Management Inc. has launched one new fund.
Tuesday June 8, 1999Tradex Emerging Markets Country Fund has been renamed to Tradex Global Equity Fund. Strategy Value Corp. has acquired O'Donnell Investment Mgmt. Corp. Together, they have combined into one entity called SVC O'Donnell Funds Management Inc. Strategic Value Series of Funds and O'Donnell Group of Funds will be listed as two separate fund families under SVC O'Donnell Funds Management Inc. Friday June 4, 1999: Manulife Vistafunds renamedManulife Financial has renamed all the Vista funds.
Tuesday June 1, 1999: CIBC 5-Yr Protected funds closedAs of May 14, 1999, all CIBC 5-yr protected funds are closed for new investors. Monday May 31, 1999Mackenzie Financial Corporation has launched two new funds.
View the Fund Report for Mackenzie Financial Corporation. AIM GT Global Infrastructure Class portfolio manager change AIM GT Global Infrastructure Class New Manager: Brian Hayward, CFA (Invesco Trust Company
Denver) Monday May 24, 1999: Nasdaq Composite Index added to GLOBEfundGLOBEfund now tracks the Nasdaq Composite Index. You can add this index to your Fundlist or create a chart comparing your funds to the index. The Nasdaq Composite Index measures all Nasdaq domestic and non-U.S. based common stocks listed on The Nasdaq Stock Market. The Index is market-value weighted. This means that each company's security affects the Index in proportion to its market value. The market value, the last sale price multiplied by total shares outstanding, is calculated throughout the trading day, and is related to the total value of the Index. Today the Nasdaq Composite includes over 5,000 companies, more than most other stock market indexes. Because it is so broad-based, the Composite is one of the most widely followed and quoted major market indexes. This index is tracked in U.S. Dollars and was converted from U.S. Dollars to Canadian Dollars. It is updated monthly on GLOBEfund. Thursday May 20, 1999New Asset Classes on GLOBEfund.com GLOBEfund.com is pleased to announce that as of Thursday, May 20, 1999, it will adopt the new IFSC (Investment Funds Standards Committee) standards for mutual fund classification in Canada. These 33 new broad-based asset classes will replace our old asset classes that totaled 18. The change gives our users the ability to make more accurate comparisons of funds within an asset class as well as the ability to make more meaningful peer group comparisons. Overview: The Investment Funds Standards Committee (IFSC) was formed in January 1998 by Canada's major mutual fund database and research firms with a self-imposed mandate to standardize the classifications of Canadian-domiciled mutual funds. Under the new standards, there will be 33 asset categories to which individual funds will be assigned. The criteria for allocation into a specific fund category is as follows. Firstly, a fund's objective and style, as presented in the prospectus, is looked at to determine the appropriate asset category. Then the funds actual portfolio holdings over a period of time are examined to determine its placement within a specific category. The primary purpose of the new asset classifications is to provide investors with a consistent set of mutual fund categories. The proliferation of mutual fund listings and analysis services has created some confusion in the absence of industry-standardized fund categories. While the committee recognizes that no fund category scheme is suited for all purposes, establishing a standard is nonetheless considered beneficial for the mutual fund investor. These changes will appear on GLOBEfund wherever funds are grouped by Asset Class, for example, in the Fund Filter, Fund Selector and the Group Average comparison on the Fund Report. To find out to which new asset class a fund belongs, click the fund name when viewing a Fund Report. A Fund Profile will be shown specifying the new asset class. The following lists all of the new asset classes that will be used on GLOBEfund.com as of May 20, 1999:
Asia ex-Japan Equity The complete IFSC document, including a listing of all funds in Canada and their new categories, is available as a PDF file, viewable with Adobe Acrobat Reader. First Trust Canadian Trust has launched two new funds.
@rgentum Management and Research Corp. has renamed one of their funds. Effective May 19, 1999, @rgentum Management & Research announced that the name of the top-performing @rgentum Small Company Portfolio has been changed to the @rgentum Canadian Performance Portfolio. C.I. Covington fund temporarily closed For further details, view the C.I. Press Release. Tuesday May 18, 1999: New Desjardins fundFiducie Desjardins has launched one new fund.
Tuesday May 11, 1999Acker Finley Inc. has launched one new fund.
Two Guardian mutual funds terminated Effective May 07, 1999, Guardian Mutual Funds is announcing that it will no longer be offering Classic or Mutual Fund units of its Guardian Emerging Markets Bond Fund for continuous distribution. Thursday May 6, 199912 pooled funds offered by Integra Capital Management Corp. are available on GLOBEfund.
Seaboard Life portfolio manager changes With the purchase of Seaboard Life by Industrial-Alliance Insurance Company, the responsibility for the fund management of the funds previously managed by the Seaboard Life Investment Department has been transferred to Industrial-Alliance. The changes in fund managers are as follows: APEX Money Market Fund
APEX Mortgage Fund
APEX Fixed Income Fund
APEX Growth & Income Fund
APEX Canadian Stock Fund
Monday May 3, 1999Effective April 30, 1999, The Empire Life Insurance Company will change the name of its S&P 500 Index Fund to US Equity Index Fund. Mackenzie portfolio manager changes Mackenzie Financial Corporation has announced key investment changes at two of its 17 international equity mutual funds, effective April 30, 1999 in response to the resignation of Bill Kanko. Ivy Foreign Equity Fund will be spearheaded by Senior vice-president Jerry Javasky. Universal Select Managers Fund There are five managers in this fund and Paul Baran will replace Bill Kanko. Infinity portfolio manager changes Effective April 8, 1999, Infinity Funds Management Inc. announced that Infinity Investment Counsel Ltd., manager of the Infinity Mutual Funds, has retained Dundee Investment Management & Research Ltd. as the sub-advisor to provide investment management services for Infinity Canadian, Infinity Income and Growth, Infinity International, Infinity T-Bill and Infinity Wealth Management Fund. Jeffrey Lipton will no longer be the fund manager for all Infinity Mutual Funds. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
![[ Recent Articles ]](/images/recent.gif){kind=small}
