(November 9 – 11:30 ET) –
First International Asset
Management Inc. has entered
into an agreement to acquire the
Marathon Mutual Funds from National
Bank Financial Group.
The family of eight mutual
funds, including the renown
Marathon Equity fund, will be
administered by First International
subsidiary Triax Capital Holdings, Deans
Knight Capital Management Ltd.
of Vancouver will continue to
manage the money for the flagship
equity and resource funds.
The family has total assets
under management of about $120
million. The deal is expected to
close on December 6, subject to
regulatory approval.
Since it was launched to lead
the fund industry consolidation in
1997 First International has made
four acquisitions: Triax, the
Northwest Mutual Funds, 49% of
Beutel, Goodman & Company Ltd.,
and 60% of Money Concepts Ltd.
It also has a deal pending for
Foyston, Gordon & Payne,
which it announced on October 20,
and awaits regulatory approval.
-IE Staff
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