(October 13 – 10:00 ET) – The Co-operators, Canada’s largest domestically-owned property insurer, has drafted a new group of players to its financial services team: Co-operators Mutual Funds Ltd.
At a ceremony last night at Toronto’s Hockey Hall of Fame, Co-operators Mutual Funds formally introduced four international funds under The Co-operators/Warburg Pincus banner and five domestic funds under the Heritage banner.
The Heritage funds consist of a money market fund, a Canadian balanced fund, a Canadian bond fund and a Canadian equity fund. The domestic group also includes Associate Investors Limited, a fund managed by Leon Frazer and Associates. The other funds are managed by Co-operators Investment Counselling of Guelph, Ont. which oversees $7 billion in investments.
The Co-operators/Warburg Pincus group includes the International Equity Fund, the Global Telecommunications Fund, the U.S. Capital Appreciation Fund and the Global Post-Venture Capital Fund. All are managed by Credit Suisse Asset Management LLC of New York. CSAM serves as the investment advisor to the Warburg Pincus Funds in the US. As of June 30, CSAM managed over US$70 billion.
All the funds will be distributed through existing networks of agents, brokers and credit unions now offering products of The Co-operators, as well as through new arrangements with financial planners, brokers and direct trading channels such as discount brokers.
-IE Staff