(December 3 – 09:25 ET) –
Spectrum United Mutual Funds Inc.
has dumped Schachter Asset
Management as portfolio manager
of its Spectrum United Canadian
Resource Fund. It will be replaced
by Mercury Asset Management.
Schachter has been the fund’s
manager since its inception in
Spectrum says Mercury, which is
now owned by Merrill Lynch &
Co. Inc., has over $1.5 billion
under management in resource funds
worldwide. It now manages eight
funds for Spectrum. “Spectrum
United is delighted to bring
Mercury’s considerable expertise in
natural resources to our investors”
says vice president of
investments Karen Bleasby.
The lead manager will be Gaelen
Morphet, senior vice president of
investments and Canadian equities,
a Canadian-based 15-year veteran.
“We look for companies which have
quality management, production
growth potential, commodity price
leverage and reasonable liquidity
with good expected price
performance at reasonable
valuations” says Morphet.
-IE Staff
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