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(May 28, 2008) TSX Group Inc. has yet to pick a new CEO, despite rumours to the contrary. TSX officials say its governance committee is still undertaking a search and has not reached an agreement with any particular candidate.

However, a new CEO is expected to be announced before its June 11 annual meeting.

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Ethical Funds tops Corporate Knights magazine survey

(May 28, 2008) Ethical Funds led the way in Corporate Knights magazine’s responsible investment funds survey. The survey ranks funds on their social, environmental and financial performance.

Eight funds from Ethical were given the survey’s highest ranking: Ethical Monthly Income Fund, Ethical Balanced Fund, Ethical International Equity Fund, Ethical Canadian Index Fund, Ethical Special Equity Fund, Ethical Growth Fund, Ethical Canadian Dividend Fund and Ethical Income Fund.

“These results show how Ethical Funds’ top performing funds can compete with mainstream investment options and it is particularly gratifying to see our funds rank top in all categories — balanced, equity and income funds,” said Elaine McHarg, senior vice- president of marketing at Ethical Funds.

Corporate Knights‘s fund ranking research also considers transparency, engagement, integration, systemic and performance, and uses a blend of one-year and three-year relative performance.

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CPP Investment Board opens new international office

(May 28, 2008) The Canada Pension Plan Investment Board has opened its second international office, this time in London.

“This new office reflects our strategy to diversify the portfolio globally, underscoring our continuing belief that there are compelling investment opportunities in the U.K. and Europe that align with our long-term investment horizon,” said David Denison, president and chief executive officer. “Having a team of investment professionals on the ground will enable us to strengthen our relationships with existing partners and to facilitate the earlier identification of new investment opportunities in these markets. It will also allow us to better monitor our existing investments.”

The CPP Investment Board currently has $12.1 billion invested in public companies in the U.K. and Europe, and $15 billion committed to private equity, infrastructure and real estate investments.

Its other international office is in Hong Kong.

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GMP Private Client certified for fiduciary excellence

GMP Private Client L.P. has been certified for fiduciary excellence in the Investment Manager category by the Centre for Fiduciary Excellence (CEFEX), becoming the first investment dealer in Canada to do so.

“GMP Private Client has implemented all fiduciary practices for investment managers with a particular strength in external oversight of portfolio management and staff training,” said Christine Denton, the CEFEX analyst who led the assessment.

CEFEX, an independent certification process, was first offered in the United States in 2006.

The CEFEX considers an organization’s fiduciary governance and its investment systems including research, portfolio construction and trade execution. The process also involves looking at financial performance and operational data verification, and interviews with key personnel.

(05/28/08)