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Sentry Select Capital has announced the appointment of W. Shane Stuck as vice-president and senior portfolio manager. He will provide fixed-income management within the Sentry Select family of mutual funds.

Stuck comes to Sentry Select from ScotiaFunds, where he was the manager of the Scotia U.S. $ Bond Fund. He is a 20-year fund management veteran, having worked in Canadian, U.S. and global financial markets.

“His experience in managing institutional portfolios, along with his understanding of the needs of individual investors, provides Sentry Select with fixed-income, derivatives and currency hedging skills that are critical to Sentry’s evolution as a provider of income solutions to Canadian investors,” said Sandy McIntyre, senior vice-president and chief investment officer of Sentry Select.

His resume includes stints at the Bank of Canada and in private banking. He has managed global insurance bond portfolios in Toronto and New York.

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Counsel rolls out short term bond fund

Counsel Portfolio Services has announced the launch of Counsel Short Term Bond, a new investment solution is available for purchase effective January 25, 2010.

The fund is designed for investors seeking a moderate level of income while preserving capital and liquidity levels. It will invest either directly or through securities of other mutual funds, in a diversified portfolio of primarily Canadian fixed income securities.

Initially, the fund will invest all of its assets in an underlying fund, TD Short Term Bond Fund. The Counsel fund is available as series A, D, E, F and I.

“This new offering is an expansion of the range of investment solutions offered under the Counsel Portfolio Components banner, a range of investment solutions that provides advisors with the freedom and flexibility to customize suitable portfolios for their clients,” says Sam Febbraro, president and CEO of Counsel.

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Investor confidence rising

Institutional investor confidence inched higher in January, according to the State Street Investor Confidence Index, with the global confidence reading climbing 0.2 points to 104.5.

North American investor confidence is above the global average, gaining 4.4 points to 107.9, while in Europe confidence fell 5.6 points to 98.9. In Asia, confidence rose 0.6 points to 98.1.

“Institutional investors had a number of competing claims on their attention this month,” says Ken Froot, the Harvard University professor who developed the index. “Impressive growth numbers out of China for 2009 buttress anecdotal evidence that expansion continues apace there, lending a positive tone to a number of asset classes.

“At the same time, there is some evidence that while activity has picked up to a substantial degree in the developed markets, the recent pace of improvement may be difficult to sustain, all the more so against a backdrop of uncertainty around monetary policy and regulatory change more generally.”

(01/26/10)