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NexGen Financial has teamed up with Rondeau Capital Inc. to create two new open end mutual fund mandates: the NexGen Turtle Canadian Equity Fund and the NexGen Turtle Canadian Balanced Fund.

Rondeau Capital, controlled by Keith Graham, will act as a sub-advisor in regards to the two new NexGen funds. The NexGen Turtle Group of Funds were named to reflect Graham’s style of investing.

“We’re delighted to have Keith as a business partner going forward,” said Jim Hunter, CEO of NexGen Financial. “He is truly one of Canada’s great young value investors and has a long track record of success… Keith’s objective is to grow investor assets patiently while protecting capital from untoward risk.”

NexGen currently manages 16 other open ended funds and has about $580 million in assets under management.

The NexGen Turtle Group of Funds are expected to be available for sale on May 31, 2010 in B.C., Alberta, Ontario, Quebec, Newfoundland, Labrador and the N.W.T.

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Boomers’ retirement to slow economic growth: CBOC

While Canada’s economy is recovering from the recession, Canadians can expect another economic slow-down beyond 2014 as the baby boom generation retires, says The Conference Board of Canada’s Canadian Outlook: Long-Term Economic Forecast.

“Canada’s near-term economic outlook is much brighter than it was just a few months ago,” said Pedro Antunes, director of National and Provincial Outlook. “Beyond 2014, however, economic growth will be restrained as the baby boomers leave the workforce. Labour shortages brought on by a wave of retirements will be the dominant economic trend until about 2030.”

In the short term, the forecast expects Canada to enjoy an increase in real gross domestic product (GDP). Average real GDP growth is projected to average 3.4% between 2012 and 2015. Also, the national unemployment rate is expected to fall below 6% in that timeframe.

In response to Canada’s aging population, immigration is expected to increase substantially, topping out at 350,000 people per year between 2028 and 2030. This would raise Canada’s population from 33.6 million in 2009 to 41.7 million in 2030.

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Investors Group tweaks fund offerings

Investors Group has launched two new equity mandates, the IG FI U.S. Large Fund Equity Fund and Class and the IG FI International Equity Find and Class.

The two new equity mandates will be sub-advised by Fidelity Investments Canada ULC through its affiliate Pyramis Global Advisors, LLC. The IG FI U.S. Large Cap Equity Fund and Class will invest primarily in equity securities of U.S. companies and the IG FI International Equity Fund and Class will invest primarily in equity securities of companies outside of Canada and the U.S.

Also, a meeting of unitholders of Investors Income Trust Fund has been announced for June 23, 2010. This meeting is to approve changes to the investment objective of the fund, from investment on the income trust sector to a broader focus in Canadian securities and other securities.

(04/29/10)