Briefly:

WRH should make every reasonable effort to ensure that its debt financing is firm. WRH will need to provide a substantial deposit, but only one debt financing terms have been met. WRH needs to address senior management retention issues. This is in relation to the continuing misguided and misleading public attacks by WRH on LW […]

By Staff | July 21, 2008 | Last updated on July 21, 2008
3 min read
  • WRH should make every reasonable effort to ensure that its debt financing is firm.
  • WRH will need to provide a substantial deposit, but only one debt financing terms have been met.
  • WRH needs to address senior management retention issues. This is in relation to the continuing misguided and misleading public attacks by WRH on LW and its personnel.
  • The LW board also calls into question WRH’s attacks of the break fee and expenses payable to LW and WRH’s request for expense reimbursement in its proposal.

• • •

DundeeWealth completes two acquisitions

( July 21, 2008) DundeeWealth Inc. announced the completion of two acquisitions that will diversify its distribution platform in Canada and the United States.

In a separate transaction, DundeeWealth acquired 89% of BHR Fund Advisors, L.P. (BHR), a U.S.-based mutual fund manager and distribution platform founded in 2006.

Dundee purchased a 60% majority stake in Aurion Capital Management Inc., a Toronto-based institutional money manager. The remaining 40% of the company will be held by Aurion employees.

Dundee also acquired 89% of BHR Fund Advisors L.P., a Philadelphia-based mutual fund manager. The remaining 11% of the company will be held by BHR management.

• • •

TMX Group launches new financial portal

(July 21, 2008) TMXmoney, a new financial portal for Canadian and North American investors, launched on Monday.

“The enhanced content and features we’re providing on the TMXmoney.com website will enable our site visitors to make more informed investment decisions,” says Andre Craig, vice-president of product management for TSX Datalinx.

TMX Group says the new site essentially replaces the market activity section of www.tsx.com. The expanded content offering is based on direct feedback from website visitors on what they wanted to see added.

To broaden the coverage to include full North American content, TMX Group contracted Dow Jones Client Solutions to create, build and host the quotes, market information and investor tools on the TMXmoney site.

• • •

USC appoints new investment managers

(July 21, 2008) The International Scholarship Foundation (ISF), the sponsor and promoter of the USC Education Savings Plans, today announced the appointment of two new investment managers for the USC Family Group Education Savings Plan.

The ISF has appointed Fiera Capital Inc. as an investment manager of the plan. Along with Addenda Capital Inc. and Guardian Capital LP, who continue to be investment managers for the plan, Fiera will actively manage a portion of the plan.

As well, ISF has appointed TD Asset Management Inc. to manage a portion of the plan using an indexed investment management approach.

ISF says these changes to the plan are not expected to have a significant impact on the overall level of risk associated with an investment in the plan, which “remains a conservative investment fund suitable for investors focusing on a long term savings program.”

USC Education Savings Plans Inc., a wholly owned subsidiary of the ISF, has been distributing RESPs for more than 40 years and administers more than $2.3 billion.

(07/21/08)

Advisor.ca staff

Staff

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

  • WRH should make every reasonable effort to ensure that its debt financing is firm.
  • WRH will need to provide a substantial deposit, but only one debt financing terms have been met.
  • WRH needs to address senior management retention issues. This is in relation to the continuing misguided and misleading public attacks by WRH on LW and its personnel.
  • The LW board also calls into question WRH’s attacks of the break fee and expenses payable to LW and WRH’s request for expense reimbursement in its proposal.

• • •

DundeeWealth completes two acquisitions

( July 21, 2008) DundeeWealth Inc. announced the completion of two acquisitions that will diversify its distribution platform in Canada and the United States.

In a separate transaction, DundeeWealth acquired 89% of BHR Fund Advisors, L.P. (BHR), a U.S.-based mutual fund manager and distribution platform founded in 2006.

Dundee purchased a 60% majority stake in Aurion Capital Management Inc., a Toronto-based institutional money manager. The remaining 40% of the company will be held by Aurion employees.

Dundee also acquired 89% of BHR Fund Advisors L.P., a Philadelphia-based mutual fund manager. The remaining 11% of the company will be held by BHR management.

• • •

TMX Group launches new financial portal

(July 21, 2008) TMXmoney, a new financial portal for Canadian and North American investors, launched on Monday.

“The enhanced content and features we’re providing on the TMXmoney.com website will enable our site visitors to make more informed investment decisions,” says Andre Craig, vice-president of product management for TSX Datalinx.

TMX Group says the new site essentially replaces the market activity section of www.tsx.com. The expanded content offering is based on direct feedback from website visitors on what they wanted to see added.

To broaden the coverage to include full North American content, TMX Group contracted Dow Jones Client Solutions to create, build and host the quotes, market information and investor tools on the TMXmoney site.

• • •

USC appoints new investment managers

(July 21, 2008) The International Scholarship Foundation (ISF), the sponsor and promoter of the USC Education Savings Plans, today announced the appointment of two new investment managers for the USC Family Group Education Savings Plan.

The ISF has appointed Fiera Capital Inc. as an investment manager of the plan. Along with Addenda Capital Inc. and Guardian Capital LP, who continue to be investment managers for the plan, Fiera will actively manage a portion of the plan.

As well, ISF has appointed TD Asset Management Inc. to manage a portion of the plan using an indexed investment management approach.

ISF says these changes to the plan are not expected to have a significant impact on the overall level of risk associated with an investment in the plan, which “remains a conservative investment fund suitable for investors focusing on a long term savings program.”

USC Education Savings Plans Inc., a wholly owned subsidiary of the ISF, has been distributing RESPs for more than 40 years and administers more than $2.3 billion.

(07/21/08)