AGF Management Ltd. co-founder and honorary chairman C. Warren Goldring has died at the age of 81, the company announced Tuesday.

A founding father of the Canadian mutual fund industry, Goldring saw mutual funds as a way for all Canadians to build wealth and achieve their dreams and aspirations.

“Warren was a great father, friend and colleague whose mentorship in business and civic leadership had a profound impact on me and everyone he touched,” said Blake Goldring, chairman and CEO of AGF, in a release. “His legacy will live on in the enduring commitment we have at AGF to helping Canadian investors succeed.”

Although his father had not been directly involved in the operations of AGF for more than a decade, Goldring noted that “the strong and lasting traditions of innovation and excellence Warren established continue to inspire all of us at AGF to build on the great work he first started in 1957.”

In 1957, Goldring established a mutual fund called the American Growth Fund (AGF). Together with his business partner, Allan Manford, they launched the first U.S. equity fund for Canadian investors.

Today, AGF is one of the largest independent investment management firms in the country serving over 1 million investors with offices across Canada and subsidiaries around the world.

Goldring’s contributions within the industry went well beyond AGF. He played an instrumental role in shaping the investment management industry and helping bring about greater transparency and accountability. In the 1960s, he served on the Attorney General’s Committee on Securities Legislation, which paved the way for securities regulations in place today. He also served as president of The Investment Funds Institute of Canada (IFIC) and authored two books on investing.

In 1998, he was honoured with the Canadian Investment Awards Career Achievement Award for his pioneering and lifelong contributions to the industry. In 2002 he was named Ontario Entrepreneur of the Year by Ernst & Young and received the Golden Jubilee Medal of Queen Elizabeth II. In 2003, he was also awarded an Honorary Doctorate of Laws from the University of Toronto.

“While Warren was proud of his accomplishments and contributions to the industry, he shied away from the spotlight and was guided by strong core values of hard work, integrity, generosity and service,” added Blake Goldring. “He believed that with prosperity came a sense of responsibility and an obligation to give back to the community.”

Warren Goldring is survived by his wife of 55 years, Barbara, his sons Blake and Bryce and daughters Judy and Jane, as well as 11 grandchildren.

IE