(April 26 – 15:45 ET) – Bissett & Associates Investment Management Ltd. reported net earnings of 26¢ per share for the first quarter ended March 31, 2000. This represents earnings growth of 4% over net earnings of 25¢ for the first quarter in 1999.

Assets under management increased 6% to $5.6 billion at March 31, 2000 from $5.3 billion at March 31, 1999. During the quarter, total assets under management decreased marginally. While the growth in assets is moderately disappointing, it reflects the emphasis the market placed on the high priced technology sector over the past year resulting in relative underperformance in Bissett managed accounts.

“Mutual fund and institutional clients increasing their commitment to foreign investments within registered plans also impacted the quarterly decline of assets under management. In order to retain these assets going forward, the company is currently finalizing agreements with external managers focused on international mandates,” the company said in a prepared statement.
-IE Staff