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(February 2, 2007) Counsel Wealth Management announced Friday that it has launched two new managed portfolio solutions, Counsel World Managed Portfolio and Counsel Income Managed Portfolio.

Counsel World Managed Portfolio will invest in Canadian, U.S. and international equities, as well as global small-cap equities and fixed-income securities either directly or through securities of other mutual funds. Credit Suisse Asset Management will provide asset allocation, and Advice and Cumberland Private Wealth Management has been retained as the equity risk review manager.

Counsel Income Managed Portfolio will attempt to provide a consistent level of income with potential for long-term capital growth by investing, directly or through securities of other mutual funds, in income-producing securities, primarily bonds and dividend-paying stocks. Thornmark Asset Management will provide asset allocation advice and will also manage a portion of the portfolio’s income-producing assets.

“We have held many discussions and listened closely to the advisor community to understand what selection of portfolios they require to help manage a client’s financial plan,” said Sam Febbraro, Counsel’s president. “What stood out is the need to complement our existing portfolios with ones that focus on income and global investing using a tactical approach.

Both will be made available immediately after regulatory approval.

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NexGen plans public offering of portfolio

(February 2, 2007) NexGen Financial Limited Partnership announced that it has filed a preliminary prospectus across Canada qualifying the initial and continuous public offering of Macquarie NexGen Global Infrastructure Corporation, a closed-end investment fund.

Macquarie Alternative Investments Limited has been retained by NexGen to manage the portfolio, which will attempt to provide investors exposure to an actively managed portfolio consisting primarily of publicly listed infrastructure issuers and, to a limited extent, private infrastructure funds.

NexGen said the fund’s investment objectives are to provide tax-efficient monthly distributions that are targeted at $.05 per share, with an annual yield of $0.60 per share, and to maximize the total return of the fund.

The offering price will be $10 per share, and the minimum purchase quantity is 200 shares ($2,000).

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Franklin Templeton caps two funds

(February 2, 2007) Franklin Templeton Investments Corp. announced that it will be capping Templeton Global Smaller Companies Fund and Templeton Global Smaller Companies Corporate Class to new investors on April 30, 2007. After this date, only existing security-holders will be able to purchase new securities of the funds.

“This move will allow the funds to continue to take advantage of new opportunities in the global small-cap market while ensuring strict adherence to the Templeton value investment style,” said Don Reed, CEO of Franklin Templeton Investments. “Closing the funds at this time is in the best interest of current security-holders.”

Templeton Global Smaller Companies Fund is a value style mutual fund that invests in small-cap companies located anywhere in the world. As of December 31, 2006, the fund had $1.6 billion in assets under management.

FTI said the funds may reopen to new investors sometime in the future, depending on market conditions, and will continue to be part of both the Quotential and Tapestry managed investment programs.

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Father and son duo admit to violating securities laws

(February 2, 2007) A West Vancouver man and his son have admitted to the British Columbia Securities Commission that they violated securities laws by illegally distributing securities and misleading investors in raising money for a Bahamian-incorporated company.

Lionel Mervin Negus, 74, and his son John Thompson, 43, admitted that from their West Vancouver homes, they promoted the sale of securities of Syndicated Gold Depository S.A., a company purported to be incorporated and located in the Bahamas. They did this through Parklane International Corp., an offshore company hired by SGD to sell the securities. SGD paid Parklane about $1.8 million US in fees.

From about September 2000 to March 2004, Parklane distributed SGD securities to 64 investors, who invested a total of about $11.5 million US. Most of the investors were U.S. residents; only three were Canadian.

The BCSC found that Negus, Thompson and Parklane violated securities laws by distributing $1.66 million of the SGD securities without proper registration and without filing a prospectus.

The BCSC has fined Negus and Thompson and banned them from the securities market. Negus must pay $75,000 and is banned from trading securities for 15 years. Thompson must pay $100,000, and he is similarly banned for 20 years.

Also as part of the settlement, the BCSC said, Parklane has ceased trading and is permanently prohibited from engaging in any investor-related activities.

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(02/02/07)