Toronto-based Brandes Investment Partners & Co., together with New York-based Lazard Asset Management LLC, has launched two new funds: Lazard Global Equity Income Fund and Lazard Emerging Markets Multi-Strategy Fund. Lazard Global Equity Income Fund invests primarily in the equities of large-, medium- and small-capitalization issuers based around the globe, including in emerging markets. The […]
John MacNaughton, who spent 31 years with brokerage firm Fry and Co. and its successors, died at his home in Toronto on Feb. 15. He was 67. A Bay Street stalwart, MacNaughton was a well-respected figure in the investment community. He served as president and CEO of Burns Fry Ltd. from 1989-94 and then as […]
Edmonton-based Canadian Western Bank – the largest publicly traded Canadian bank headquartered in Western Canada – has appointed Chris Fowler as its president and CEO. The appointment had been widely anticipated for some time. Shareholders confirmed the appointment at the bank’s annual general meeting this past March. Fowler joined Canadian Western Bank in 1991 and […]
The Bank of Canada has announced that Lawrence L. Schembri will be its new deputy governor. He will replace Jean Boivin. Canada’s central bank had been looking for someone to succeed Boivin, who was appointed as a federal associate deputy minister of finance late last year. Schembri joined the Bank of Canada in 1997 as […]
Montreal-based Desjardins Investments Inc., manager of Desjardins funds, has changed the risk-tolerance level associated with investing in Desjardins Global Real Estate Fund. The fund’s risk-tolerance level has been revised from “medium” to “medium to high.” In performing the risk assessment, Desjardins Investments took into account the fund’s investment strategy, the sectors or regions in which […]
Toronto-based Manulife Financial Corp. has announced that Susan Dabarno has been appointed to its board of directors. The move was effective March 1. Dabarno joins Manulife after many years of experience in leading some of the largest wealth-management firms in Canada. Most recently, she was executive chairwoman of Richardson GMP Ltd. Prior to joining Richardson […]
Toronto-based Horizons Exchange Traded Funds Inc. will terminate two exchange-traded funds (ETFs) at the close of business on May 31: Horizons BetaPro US Dollar Bull Plus ETF and Horizons BetaPro US Dollar Bear Plus ETF. Effective immediately, no further direct subscriptions for units of the ETFs to be terminated will be accepted. The last date […]
Montreal-based National Bank Securities Inc. has closed two funds: Omega Global Opportunities Fund and National Bank Canadian Opportunities Fund. These funds were closed for new purchases as of March 6 and will be terminated on or about May 28. In addition, National Bank has set May 21 as the date for a meeting of unitholders […]
Multi-manager asset class funds are meant to offer group plan members more diversification