The Independent Order of Foresters FGF Bond Fund was named Best Segregated Canadian Income Fund at the Canadian Mutual Fund Awards Gala yesterday.

The FGF Bond Fund’s rate of return after fees is 9.89% on a year over year basis ending September 30, 2001. On the same basis, the performance of the FGF Bond Fund has exceeded its benchmark – Scotia Capital Markets Universal Bond Index – by 0.95%. Established in 1989, this segregated fund has assets under management of $3.5 million.

Richard Scott, assistant vice president – Fixed Income, manages Foresters’ bond funds including the FGF Bond Fund and the FGF Canadian Bond Fund as well as the Bond components of the FGF Balanced Fund and the FGF Canadian Balanced Fund. Mr. Scott has managed the FGF Bond Fund since 1995.

“I am very happy to be recognized by such a leading group of analysts,” said Richard. “The fund has performed very well since its inception.”

The Fund’s investment objective is to provide a high level of interest income while preserving capital by investing primarily in debt securities of Canadian governments, municipalities and corporate and other issues.