By Staff | September 15, 2009 | Last updated on September 15, 2009
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National Bank Financial Group announced today the launch of Private Wealth 1859, a new business unit that caters solely to the needs of affluent clients with investable assets of at least $1 million.

Through Private Wealth 1859, high-net-worth clients and their families will have access to an exclusive range of turnkey solutions, including investments, private banking services, insurance, tax and estate planning, trust services, concierge service and a financial report, offered by seasoned experts.

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CIBC recognized for sustainability leadership

For the eighth consecutive year, CIBC has made Dow Jones’ Sustainability World Index (DJSI) list.

The index identifies leading companies for investment by assessing the quality of a company’s strategy, management and performance in dealing with opportunities and risk derived from economic, environmental and social developments.

CIBC is one of 25 financial institutions from around the world, and one of only 11 Canadian companies, that met the World Index’s rigorous criteria for inclusion on the list of 317 components for 2009.

CIBC is also included in the DJSI North American Index and has been a member of the index since its inception in 2005.

In addition, CIBC received confirmation recently of its inclusion for the ninth consecutive year in the FTSE4Good index, which measures the performance of companies meeting globally recognized corporate responsibility standards.

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TD launches five new managed investment portfolios

TD Mutual Funds have created five new managed portfolios, which may be suitable either as an all-in-one solution or as a core holding in an investment portfolio:

• the TD Advantage Conservative Portfolio • the TD Advantage Moderate Portfolio • the TD Advantage Balanced Portfolio • the TD Advantage Growth Portfolio • the TD Advantage Equity Portfolio

TD also introduced new series extensions of two existing funds: the New Advisor and F-Series units of the TD Mortgage Fund and the H-, T- and S-Series units of the TD High Yield Income Fund.

The TD Mortgage Fund’s investment objective is to provide a steady stream of interest income. The Advisor and F-Series provides advisors access to one of the first mortgage mutual funds available in Canada, as an alternative to traditional fixed income funds.

The H-, T- and S- Series of the TD High Yield Income Fund aim to provide clients with consistent monthly cash flow on a tax-efficient basis. The fund seeks to provide income and capital appreciation over the longer term.

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Mackenzie introduces several all-Canadian funds

Mackenzie Financial has created three purely Canadian funds with no foreign content.

The funds will pursue long-term growth by investing their assets in equity securities of Canadian companies. As well, with entirely Canadian content, the funds will not be affected by foreign exchange fluctuations.

The investment strategies of Mackenzie Universal Canadian Growth Class, Mackenzie Maxxum Canadian Equity Growth Class, and Mackenzie Ivy Canadian Class will be modified so the funds will invest only in Canadian equities.

The changes will be effective October 2, 2009 and to reflect the shift to pure Canadian mandates, the following funds will be renamed:

Current name New name
Mackenzie Universal Canadian Growth Class Mackenzie Universal All-Canadian Growth Class
Mackenzie Maxxum Canadian Equity Growth Class Mackenzie Maxxum All-Canadian Equity Class
Mackenzie Ivy Canadian Class Mackenzie Ivy All-Canadian Class

In addition to the change in investment strategies of Mackenzie Universal Canadian Growth Class, currency hedging will be eliminated on the hedged version of the fund. The hedged class will be renamed B Class and will immediately be closed to new sales. Mackenzie Universal Canadian Growth unhedged class will be renamed A Class. These changes will also be effective on October 2.

Also announced today is the change to the Mackenzie Focus Canada Class’ roster of managers. Starting October 30, 2009 the roster of managers will include Ian Ainsworth of Mackenzie Universal Funds, as well as the Mackenzie Maxxum investment team, the Mackenzie Cundill investment team, the Mackenzie Ivy investment team, and Bluewater Investment Management Inc.

There will be two meetings held on October 26 to vote on proposed changes to two funds. Investors in Mackenzie Focus Canada Class are voting on the proposed change in the investment objectives of the fund to a purely Canadian mandate.

Meanwhile, unitholders of Mackenzie Sentinel Income Trust fund will vote on the proposed change in the investment objective of the fund to adopt a high income balanced mandate.

(09/15/09) staff


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