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(March 23, 2007) Manulife Mutual Funds has named Capital Guardian as sub-advisor for its MIX Global Equity Class, replacing Goldman Sachs Asset Management, L.P., effective June 1, 2007.

“This change will provide MIX investors with access to this well-respected institutional investment manager,” said Doug Conick, vice-president, investment funds, Manulife Mutual Funds.

Capital Guardian is a unit of global institutional investment manager The Capital Group Companies, which manages $850 billion US in mutual funds and $300 billion US for institutions.

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BMO seeks two mandate changes

(March 23, 2007) BMO Investments has proposed changes to two of its corporate class funds, which, if approved by shareholders, would be effective on or about April 30, 2007.

BMO is seeking approval to revise the investment objectives of the BMO Global Balanced Class to allow the fund to invest primarily in dividend-yielding common and preferred shares of companies from around the world. The fund would then be renamed BMO Global Dividend Class, and management would be assigned to Dublin-based KBC Asset Management.

BMO is also seeking shareholder consent to revise the objectives of the BMO Short-Term Income Class. The changes would allow the fund to invest primarily in Canadian equity securities and enter into forward contracts or other permitted derivatives in an effort to derive a return “similar to that of a fixed-income fund.”

The benefit to investors would be a shift in tax treatment of distributions, as these would be considered capital gains. The current mandate allows the fund to invest primarily in interest-bearing investments, such as T-bills. If approved, the fund’s name would change to BMO Capital Yield Class.

Shareholder meetings will be held on or about April 26, 2007.

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Russell names two new managers

(March 23, 2007) Russell Investments Canada has named two new managers to its Sovereign Canadian Equity Pool, a multi-manager pooled fund. Foyston, Gordon & Payne Inc. and Aurion Capital Management will be allocated 28% and 22% of assets respectively.

The change comes at the same time as Connor, Clark & Lunn Financial Group and Sanford Bernstein are being dropped as managers of that pool. CC&L had managed a 26% “market-oriented” allocation in the pool, while Sanford Bernstein had been in charge of 28% value weighting. As of December 31, 2006, the pool’s assets totalled $1.12 billion.

Foyston, Gordon & Payne will be added as a new manager in the Russell Canadian Equity Fund as well, with a target weight of 24% of the fund, replacing CC&L, which had managed the fund’s 26% market-oriented allocation as of Dec. 31, 2006. The fund’s assets totalled $1.51 billion as of year end.

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(03/23/07)