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John Pereira has been appointed CFO of DundeeWealth.

John succeeds Joanne Ferstman, who has moved into her new role as vice-chair and head of Dundee Capital Markets, DundeeWealth Inc.

Since joining the company in 1997, Pereira has held a variety of senior roles at DundeeWealth. Most recently, he held the position of executive vice-president, finance.

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MFC Global appoints new CEO

MFC Global Investment Management has appointed Jean-Francois Courville as the new CEO.

Courville will have overall responsibility for MFC GIM’ s third-party institutional and sub-advisory asset management businesses in North America, Europe and Asia, as well as for expanding investment management services to Manulife Financial’ s own wealth management businesses globally. He oversees asset allocation and investment management activities for approximately $96 billion in client assets across multiple asset classes.

Courville is a CFA. In 2007, Courville joined Manulife from State Street Canada where he had served as president and CEO since 2005.

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Increased tax breaks for Atlantic labour sponsored venture program

Canada’ s leading venture capital management was pleased to report Newfoundland and Labrador’ s 2009 budget decision to increase tax breaks for Sponsored Venture Capital Corporation program.

“This is a very positive step for the Fund in Newfoundland and Labrador,” said Tom Hayes, president and CEO of GrowthWorks Atlantic Venture Fund. “We believe enhanced tax benefits for investors will set the stage for increased venture capital investing in promising Newfoundland and Labrador businesses.”

As of April 1, 2009, the tax credit rate is increased to 20% of the amount paid for LSVCC shares, up from 15%. Also, starting with the 2009 taxation year, the maximum annual eligible investment per investor is increased to $10,000, up from $5,000.

Investors in this province’ s LSVCC program are also eligible for a federal tax credit. The federal tax credit rate is 15% and the federal maximum annual contribution limit is $5,000.

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Gryphon new portfolio advisor to Pinnacle balanced fund

Beginning August 5, 2009, Gryphon Investment Counsel Inc. will replace Connor, Clark & Lunn as the portfolio advisor to the Pinnacle Strategic Balanced Fund.

Gryphon was founded in 1981 as a private partnership and it manages over $4.5 billion in assets.

The portfolio advisor will also be changed for the Pinnacle Canadian Growth Equity Fund. MFC Global Investment Management will replace Aurion Capital Management, effective September 5, 2009.

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Galileo completes fund merge

Galileo Funds Inc. announced that it has completed the fund merge of the Galileo Absolute Return Fund, Galileo Canadian Active/Passive Fund (the terminating funds), and Galileo Global Active/Passive Fund into Galileo Small/Mid Cap Fund (the continuing fund).

The merge was completed May 31, 2009.

The investment objective of Galileo Small/Mid Cap Fund is to provide capital growth. The fund invests primarily in shares of smaller and medium North American companies, and may also invest in income and royalty trusts.

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Goodman & Co. change fee structure on two hedge funds

Goodman & Company, manager of the Dynamic family of funds, have changed the way fees are charged on the Dynamic Power Hedge Fund and Dynamic Power Emerging Markets Fund by adding high water marks to the funds.

The presence of a high water mark will ensure that before a performance fee is charged, the funds will achieve a return above the previous NAV on which performance fees were paid. High water marks are already provided in the offering documents of the other five Dynamic hedge funds.

The change will be effective on or before June 30, 2009.

(06/05/09)