Briefly:

Previous Brieflies this week: | MON | TUE | WED | THU |

Dynamic Funds announced today that three target date mandates are being added to the DynamicEdge Portfolios family.

DynamicEdge 2020, 2025 and 2030 Target Date Portfolios are all available in either a corporate class structure or as a trust. The portfolios begin the initial asset allocation balanced between equities and fixed income securities (DynamicEdge 2020 starts at 50% equities and 50% fixed income; where DynamicEdge 2030 portfolios start at 80% equities and 20% fixed income) and over time trend toward fixed income securities as their target date approaches.

DynamicEdge also offers fixed asset portfolios that do not change their asset allocation over time.

• • •

BMO unit buys distressed U.S. bank’s operations

Harris North America announced its purchase of certain assets and liabilities of AMCORE Bank, N.A. from the Federal Deposit Insurance Corporation (FDIC).

Effective immediately, Harris has assumed about US$2.1 billion in deposits, US$2.5 in assets—including about US$2.0 billion in loans—and around US$2.4 billion in trust, investment and brokerage assets under management.

Harris N.A., a subsidiary of BMO Financial Group, plans to re-open all 52 AMCORE branches in Illinois and Wisconsin under the Harris name by Saturday, April 24.

For more information regarding this transaction, visit www.fdic.gov.

• • •

Scotiabank newcomers’ site now in eight languages

Scotiabank’s website for recent immigrants to Canada, StartRight, is now available in eight languages: English, French, Traditional Chinese, Simplified Chinese, Spanish, Punjabi, Arabic and Farsi.

“At Scotiabank, we understand the important role that immigrants, temporary workers and foreign students play in the Canadian labour force, economy and cultural mosaic,” said Rania Llewellyn, vice-president of multicultural banking at Scotiabank. “A recent Statistics Canada report, projecting significant growth of the foreign-born population in Canada over the next decade underscores the importance of meeting the needs of people choosing to make Canada their new home.”

The website is aimed to act as a financial resource for those planning a move to Canada, as well as those who have recently immigrated and are in need of financial guidance.

To view Scotiabank’s StartRight website, visit www.startright.scotiabank.com.

(04/26/10)