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AGF Funds has legally changed its name to AGF Investments Inc.

The name change follows the announcement in April 2009 to bring together the retail (AGF Funds) and institutional/private client (AGF Asset Management Group) businesses under one banner: AGF Investments.

AGF Investments will be a diversified investment management company that provides “industry-leading services to Canadian and international investors” in the retail, institutional and private client spaces.

The internal investment managers will continue to manage funds under the new name AGF Investments.

“AGF Investments reflects our commitment to clients and excellence in money management,” says Blake C. Goldring, chair and CEO of AGF Management Ltd. “It allows us to better leverage our core investment management competency across all distribution channels and keeps with our mission of helping investors succeed.”

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B2B signs distribution agreements with SSQ Investment

B2B Trust, a subsidiary of Laurentian Bank, and SSQ Investment and Retirement, a subsidiary of SSQ Life Insurance Company, have signed agreements for the distribution of investment and RRSP loans.

B2B Trust will provide its investment loan and RRSP loan programs through licensed financial advisors. These agreements with SSQ Investment and Retirement bring the total count of distribution alliance programs to 62 for B2B Trust.

“We are pleased to add SSQ Investment and Retirement to our growing list of distribution alliances for our segregated fund investment and RRSP loan programs,” says Al Spadaro, vice-president, business development, with B2B Trust. “We look forward to providing SSQ’s clients and business partners with a new level of choice, flexibility and service when it comes to lending products.”

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Unity Life completes MetLife Canada deal

Unity Life of Canada has completed the assumption reinsurance agreement to acquire all of the insurance business of MetLife Canada, a subsidiary of U.S. insurer MetLife.

Under the agreement, which was announced back in May, Unity Life will get approximately 100,000 life and health insurance policies and a small number of group annuity contracts. The transaction includes policy liabilities of approximately $300 million.

“Today’s announcement reaffirms our continued commitment to our long-term growth strategy that aims to strengthen our position and presence in our core markets,” says Tony Poole, Unity Life president and CEO. “We are focused on growth through a combination of organic and non-organic means, including capitalizing on acquisitions that expand our business base and position us for future growth and success.”

Unity Life will continue to serve MetLife Canada’s existing policyholders and provide them with their contracted insurance and annuity benefits.

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BMO finalizes amalgamation of GGOF

BMO Investments and Guardian Group of Funds amalgamated to form a single legal entity. BMO Investments is now the manager and trustee of all BMO Guardian Funds and will continue to act as manager and trustee of the BMO Mutual Funds.

The change is designed to allow the two fund families, BMO Mutual Funds and BMO Guardian Funds, to operate within a more streamlined organizational structure that will provide administrative and cost benefits.

(11/02/09)