(October 3 – 18:15 ET) – Co-operators Mutual Funds Ltd. is launching of The Co-operators Group of Mutual Funds. The new group includes four international funds under The Co-operators/Warburg Pincus banner, and five domestic funds under The Co-operators Heritage banner.
The Heritage group will include the former Associate Investors Limited mutual fund. Co-operators says the former AIL fund has also now been converted to a mutual fund trust and will now operate under the name Co-operators Canadian Conservative Focused Equity Fund.
The Co-operators/Warburg Pincus Mutual Funds will be managed by Credit Suisse Asset Management, LLC of New York. The funds will include the International Equity Fund, the Global Telecommunications Fund, the U.S. Capital Appreciation Fund and the Global Post-Venture Capital Fund. Co-operators says the investment of these funds will be managed in a manner similar the U.S. Warburg Pincus Funds.
David Hartman, president of Co-operators Mutual Funds Ltd. noted that The Co-operators is excited about their growing relationship with CSAM which, together with its global investment advisory affiliates, forms one of the world’s largest investment advisory firms. As of June 30, 2000, CSAM managed over US$70 billion.
Besides the Co-operators Canadian Conservative Focused Equity Fund, which is managed by George Frazer of Leon Frazer & Associates Inc, the Co-operators Heritage Mutual Funds includes four funds managed by Co-operators Investment Counselling Ltd.. The funds are a Money Market fund, a Canadian Balanced fund, a Canadian Bond fund and a Canadian Equity fund. CICL has had stellar performance over a number of years in the balanced and bond areas and manages over $7 billion of investments for its clients.
-IE Staff