By Staff | September 11, 2007 | Last updated on September 11, 2007
3 min read
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(September 11, 2007) Acuity Funds has launched a managed portfolio program that combines various Acuity funds within each of five new portfolios.

“Our portfolio managers and analysts manage the underlying funds and also collaborate to optimize each Alpha Portfolio. We don’t outsource our decision-making,” says Stephen Crawford, senior vice-president, national sales, for Acuity. “Our in-house expertise allows us to anticipate opportunities and manage risk more efficiently than other portfolio programs.”

Alpha Portfolios are offered as mutual funds with a minimum investment of $10,000, and as low-cost pooled funds for accredited investors with a $50,000 minimum and for non-accredited investors with a $150,000 minimum.

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AGF, CIBC launch dividend fund note

(September 11, 2007) AGF has teamed up with CIBC to launch a principal protected note linked to the performance of the AGF Dividend Income Fund. The offering will provide investors with monthly income structured as a return of capital.

“As our population ages and baby boomers plan their retirement, income-generating products like these notes continue to grow in popularity,” said Randy G. Ambrosie, president of AGF Funds Inc. “Linking the notes to this fund made good sense, since AGF Dividend Income Fund is an income-type product with a solid track record.”

The CIBC AGF Dividend Income Fund Deposit Notes, Series 1, ROC, are available until November 2, 2007, and will mature on November 9, 2015.

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BMO–CI notes offer active allocation

(September 11, 2007) CI Investments has teamed up with BMO Financial to offer a new series of principal-at-risk notes, which will offer investors exposure to three of CI’s funds: Signature High Income Fund; Signature Dividend Fund; and Signature Select Canadian Fund.

The Bank of Montreal PARTNRS, CI Signature Funds R.O.C. Class, Series 1 notes will allow for active allocation between these three funds, rather than a static investment. The investment manager, Signature Advisors, may also opt for discretionary leverage for up to 33% additional exposure to the portfolio.

Investors will benefit from a lower management fee than if they invested in the three funds directly. The notes will pay a monthly distribution targeted at a rate of 6% per annum for the first 12 months.

The notes have a 10-year term to maturity and are not principal protected. The notes are available for sale until October 17, 2007, and are subject to a minimum purchase of $2,000.

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Hub parent appoints new CFO

(September 11, 2007) Hub International, the Chicago-based parent of one of Canada’s largest MGAs, has named Daniel (Dani) Goldsmith to the position of vice-president and CFO.

“Dani has a long track record of business success, and he is going to be a great addition to our executive management team,” said Martin P. Hughes, Hub’s chairman and CEO. “What allowed him to rise above the other candidates we met was his leadership experience in multiple functional areas, including finance and operations.”

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Scotia shuffles Latin America execs

(September 11, 2007) Scotiabank has announced executive appointments in its international banking division.

The current president and CEO of Grupo Scotiabank Mexico, Anatol von Hahn, has been named executive vice-president, Latin America. His dual role in Mexico has been handed over to Nicole Reich de Polignac, head of the bank’s operations in Dominican Republic.

“Leadership is a strategic priority for Scotiabank, and these two appointments demonstrate the bench strength we have in our executive ranks,” said Rick Waugh, president and CEO of Scotiabank. “Anatol has done an outstanding job of building our franchise in Mexico, and we look forward to having his experience and expertise focused on our broader Latin American operations.”

(09/11/07) staff


The staff of have been covering news for financial advisors since 1998.