Briefly:

(August 22, 2007) AIM Trimark has announced the impending departure of high-profile fund manager Geoff MacDonald, best known for managing the equity portions of three income oriented funds and the Trimark Canadian Endeavour Fund.

“Geoff MacDonald has been a talented investor and mentor of people at AIM Trimark,” says Tye Bousada, lead portfolio manager of Trimark Fund. “While his presence and contribution will be missed, the Trimark investment team has full confidence in the abilities and experience of these lead managers.”

Effective immediately, MacDonald has been replaced by Don Simpson as manager of the equity portion of the Trimark Income Growth Fund. Simpson has been the manager of the Trimark Diversified Income Class for the past three years, and is a 13 year industry veteran. Rex Chong will remain the manager of the fixed income portion of Trimark Income Growth.

Clayton Zacharias replaces MacDonald as primary portfolio manager on the Trimark Canadian Endeavour Fund. Zacharias has worked with MacDonald for the past five years and has over 13 years of financial services experience. Zacharias will be joined by Mark Uptigrove as a dedicated equity analyst on the fund.

MacDonald’s role as lead manager on Trimark Diversified Income Class and Trimark Monthly Income Private Pool will be filled by Rory Ronan, who has been the co-manager on these funds for nearly three years. Don Simpson remains as co-manager, and the team will gain a dedicated equity analyst, Lauree Wheatley. The existing fixed income team, again led by Rex Chong, remains intact.

“Don, Clayton and Rory are three great examples, of many, that show how we’ve successfully built our investment talent from within the Trimark investment team,” said Phil Taylor, senior managing director and head of INVESCO PLC’s North American retail business, including AIM Trimark. “We expect a smooth transition for our investors and their advisors.”

Mavrix cancels fund offering

(August 22, 2007) Mavrix Fund Management has announced the withdrawal of the Mavrix TSX Venture Fund offering of warranted units, citing unfavourable market conditions.

Each unit was to have included one trust unit of the fund and one half warrant to purchase a unit of the fund.

(08/22/07)

Staff

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