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(April 3, 2007) Credential Financial announced today that as of June 30, 2007, Credential Asset Management would become the carrying dealer for the Mouvement des caisses populaires acadiennes.

The Mouvement des caisses populaires acadiennes has more than 200,000 members and offers advisory services to 33 caisses operating in 85 business locations in New Brunswick. The caisse said the agreement will provide it with enhanced services and economies of scale, while Credential will achieve one of its business strategies of increasing its presence in the Francophone marketplace.

“The Mouvement des caisses populaires acadiennes aims to provide the highest quality products and services to its members. We are happy to announce the conclusion of a partnership agreement with Credential Financial Inc., since this alliance will enable us to improve the services we provide our members and to benefit from the expertise of another co-operative institution of national stature,” says Camille Thériault, CEO of Mouvement des caisses populaires acadiennes.

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NexGen launches pair of funds

(April 3, 2007) NexGen Financial announced Tuesday the launch of the NexGen Global Value Registered Fund and NexGen Global Value Tax Managed Fund, which will offer both registered and taxable investors access to securities in foreign equity.

The funds will be managed by Jonathan Baird. Baird’s responsibilities include the management of the funds as well as oversight of the investment activities of the NexGen Infrastructure Limited Partnership.

“NexGen Global Value Funds provide investors with access to a very experienced value manager with a strong record of past performance,” said Jim Hunter, CEO, NexGen Financial. “The combination of Jonathan’s investment expertise and research capabilities and NexGen’s tax managed fund structure will offer investors a tax-efficient and flexible global investment product.”

The funds will be available for purchase in Alberta, British Columbia, Ontario and Quebec as of April 2, 2007.

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Northwater launches two new market indexed funds

(April 3, 2007) Northwater Capital Management has announced the launch of the Northwater Portable Alpha U.S. Bond Fund and the Northwater Portable Alpha U.S. Equity Fund. Both funds are engineered to outperform a targeted market index: the Lehman Aggregate Bond Index for the bond fund, and the S&P 500 for the U.S. equity fund.

“These new funds let investors access our extensive experience in managing portable alpha mandates but with the ease of accounting, reporting and performance attribution that a pooled fund structure provides,” says Bob Kulperger, vice-president, Northwater Capital. “Large-cap equities and bonds make up a large portion of most institutional investors’ portfolios, but traditional active management typically delivers only modest value-added returns compared to the benchmark indices.”

The management source for each of the new funds will come from Northwater’s market-neutral fund of hedge funds portfolio, which has a portable alpha structure that targets a return of 275 to 475 basis points in excess of the respective market index.

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EDC issues $1 billion global bond

(April 3, 2007) Export Development Canada has launched a three-year global bond of $1 billion US.

EDC says it’s the first global bond of its size in its corporate history, doubling its previous record offering of $500 million US in 2003.

“EDC was pleased to provide investors with a rare opportunity to purchase a sovereign Canadian credit of the highest AAA quality,” said Marie MacDougall, vice-president and treasurer. “The magnitude of this bond represents a significant milestone for EDC, and we are delighted by the positive reception investors have shown.”

The bonds were issued at a price of 99.776% of face value and will pay a coupon of 4.625% per annum through semi-annual payments. EDC points out that this gives investors a yield of 4.706%, equivalent to a spread of 21 basis points above the underlying U.S. Treasury bond.

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(04/03/07)