Briefly:

VentureLink has received shareholder approval for the merger of four of labour-sponsored investment funds it manages.

The VentureLink Balanced Fund, VentureLink Brighter Future Fund, VentureLink Diversified Income Fund and VentureLink Financial Services Innovation Fund will be combined into a new fund to be called VentureLink Innovation Fund, subject to final board and regulatory approval.

“This merger will create increased scale for the fund, enhance liquidity to shareholders and provide more flexibility for the manager to add value to the venture portfolios,” said Jim Whitaker, VentureLink LP Managing Partner.

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HSBC appoints new sub-advisors

HSBC Global Asset Management has added two new sub-advisors to the group of investment managers within its World Selection portfolios, effective July 19, 2010.

New York-based Jennison Associates and Boston’s Loomis, Sayles & Company were appointed sub-advisors to HSBC MultiAlpha U.S. Small/Mid Cap Equity Pooled Fund, and will co-manage the fund with Boston-based Westfield Capital Management Company.

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TD changes name of income pool

TD Asset Management has changed the name ore its TD World Bond Pool to the TD Income Opportunities Pool, effective July 21. The company says the new name “provides improved clarity and better reflects the mandates of the Pool” and that there will be no change to its investment objectives.

(07/23/10)

Staff

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