By Staff | October 29, 2007 | Last updated on October 29, 2007
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(October 29, 2007) Morningstar Canada has launched Fund Analyst Picks, a list of top mutual funds, which will be available through the company’s retail and advisor websites.

“The Morningstar Fund Analyst Picks represent the culmination of everything we do here at Morningstar,” says David O’Leary, manager of fund analysis at Morningstar. “We utilize the data, tools, and analytics we’re known for as a foundation for the qualitative analysis we conduct to come up with a list of our favourite funds. The Fund Analyst Pick designation is the highest honour we can bestow upon a fund.”

In compiling the list, Morningstar’s analysts consider the experience of the fund’s management team, fees, quality of investment strategy, and stewardship.

In evaluating stewardship, Morningstar analysts try to determine whether the fund regards the interests of unitholders as a high priority.

“It can help determine the difference between a great investment and a potential mistake,” says O’Leary.

Formal reviews of the list will be conducted quarterly, and listed funds will be reassessed whenever a substantial change is made, such as a change of manager or closure to new investors.

To read about the selection criteria, click here.

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AGF Funds name new Driehaus manager

(October 29, 2007) AGF Funds has named Dan Wasiolek of Driehaus Capital Management to the management teams of the AGF Aggressive Growth Fund and AGF Aggressive Global Stock Fund. The move comes in advance of the retirement of Meighan Harahan, vice-president of Driehaus in January 2008.

“At AGF, we have a deep commitment to building strong investment management teams to help us deliver long-term continuity in performance,” said Randy G. Ambrosie, president, AGF Funds. “This addition of Dan to the Driehaus team managing these funds is consistent with our team-oriented portfolio management approach at AGF.”

Wasiolek joined Chicago-based Driehaus in 1998 and has been managing portfolios since 2004. None of the other AGF funds managed by Driehaus are affected.

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ASC seeks to ban B.C. man

(October 29, 2007) The Alberta Securities Commission is seeking a permanent cease trade order against Brian David Anderson of White Rock, British Columbia. Anderson has already been banned from trading in his own province.

The ASC is seeking the ban on the same grounds cited by the British Columbia Securities Commission. The BCSC found that Anderson had solicited investment in two entities, Frontier Assets and the Alpha Program, but used the proceeds “for purposes other than those represented to the investors.”

Anderson also made false or misleading representations of large and guaranteed returns on investments and failed to register with the BCSC in any capacity.

The ASC alleges that Anderson’s victims included 22 Albertans, who were ripped off to the tune of $7 million. A hearing has been scheduled for December 7, 2007.

(10/29/07) staff


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