(April 19 – 11:25 ET)- Covington Capital Corporation, one of Ontario’s labour sponsored investment funds (LSIF) managers, has released the semi-annual results for C.I. Covington Fund for its fiscal year ended February 29, 2000.
Covington reports that net assets under management as of February 29, 2000, increased by 84% from $165,638,585 in 1999 to $304,593,031 in 2000. The C.I. Covington Fund, was officially closed to new investors in May 1999 to maximize shareholder value.
In December 1999, Covington created their second labour sponsored fund which opened for sale at an inception price of $10. The new fund, Covington Fund II, will be managed with the same proven investment philosophy and the same management approach as the flagship C.I. Covington Fund with special emphasis on the technology sector.
-IE Staff