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Excel Funds has announced the reduction of the management expense ratio for most of its mutual fund line-up.

“We are continuing to bring our MER down without compromising the quality of our sub-advisers and our services. As we grow, we expect our MERs to come down further,” said Bhim D. Asdhir, president and CEO of Excel Funds. “In our fund category our MERs have always strived to be competitive among our peers.”

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Lind-Waldock offers services in Chinese

Lind-Waldock Canada has announced its online commodity futures brokerage service is now available in traditional Chinese format, accommodating both Mandarin and Cantonese speaking users.

“We are very excited to bring the Lind-Waldock name and experience to Chinese speaking Canadian investors,” said Keith Riddoch, managing director, retail sales of Lind-Waldock Canada. “Chinese investors in Canada have increasingly shown interest in the commodity futures space and this website is our commitment to developing a relationship with the Chinese investing community.”

The company also now offers live Chinese language customer assistance between 8 a.m. and 5 p.m. Lind-Waldock also offers a series of webinars in both Mandarin and English that cover commodity trading strategies.

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Gluskin Sheff hires VP risk management

Gluskin Sheff + Associates has named Jim Bantis as vice-president, risk management. Prior to joining Gluskin Sheff, Bantis served as director, equity research for Credit Suisse Securities (Canada).

“We are extremely pleased to welcome Jim to the firm,” said Jeremy Freedman, deputy chief executive officer, Gluskin Sheff + Associates Inc. “His hiring further demonstrates our commitment to ensuring our clients are served by — and have access to — the best talent in the business.”

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TFSA a runaway success: Feds

If any doubt remained, the federal government has provided ample evidence that the tax free savings account (TFSA) is a hit with Canadians. Since its launch January 1, 2009, more than 4.6 million Canadians have opened a TFSA.

At the end of the first year it was available, the fair market value of all TFSAs held by Canadians was $17.9 billion.

“This innovative new savings vehicle is extremely popular with Canadians,” Minister of National Revenue Keith Ashfield said recently. “These investments support Canada’s long term economic growth and an improved standard of living for Canadians.”

(05/11/10)