Briefly:

Previous Brieflies this week: | MON | TUE | WED | THURS |

(April 23, 2007) Private equity investor Kensington Capital Partners says it has closed its first retail fund, the Kensington Global Private Equity Fund, at $22.7 million. Kensington says the fund represents the first actively managed private equity fund-of-funds offered to the retail market in Canada.

Traditionally, private equity has been the domain of institutional investors and very wealthy individuals. Kensington had set up the Global Private Equity Fund as a way for retail investors to invest in a diversified portfolio of global private equity investments, including private equity funds and direct investments in private companies.

“At Kensington, we believe retail investors as well as institutions should have access to the high returns and diversification offered by private equity,” said Tom Kennedy, founder and a managing director of Kensington. “Kensington funds are designed to provide investors with a diversified portfolio of the world’s best-performing private equity investments.

The capital in the fund will be pooled with other private investor money in Kensington’s 2007 Private Equity Program.

• • •

Standard Life allows non-registered funds in annuity

(April 23, 2007) Standard Life is offering a version of its Performance Annuity on a non-registered basis.

Performance Annuity is a retirement solution that attempts to provide income for life. It is made up of a fixed portion that provides level income and a variable portion that is linked to the performance of leading indexes. Investors can choose from one of four predetermined profiles or build their own custom Performance Annuity. The company says by allowing investors to add non-registered funds, it broadens the product’s appeal.

“Thanks to the non-registered Performance Annuity, Standard Life meets the needs of investors who also have non-registered funds to invest,” says Michel Fortin, vice-president of marketing and retail markets. “Whether the monies are registered or not, Performance Annuity provides two important benefits: the security of an income for life and the possibility for growth from market returns. This provides the best of both worlds, especially for baby boomers who have participated in capital markets during their accumulation phase.”

• • •

Investor Education Fund revamps website

(April 23, 2007) The non-profit Investor Education Fund has launched a revamped version of its website at www.investorED.ca.

The site offers an array of information, online tools and resource links that attempt to provide every level of investor with unbiased information. Visitors can access case study examples that show the effects of financial decisions, including how much is needed to retire comfortably. Easy-to-use worksheets help consumers quickly create retirement plans and budgets. As well, there are links to other tools from government, media and industry associations.

“We have written the investorED.ca website in plain language that’s free of jargon so that investors can understand the content better and develop confidence with their finances,” explains Investor Education Fund president Tom Hamza. “InvestorED.ca does not sell or recommend any financial products. It’s a uniquely independent, unbiased resource that’s helping people to make smart and informed decisions about their investments.”

• • •

CSA extends terms of chair, vice-chair

(April, 23, 2007) The term of the Canadian Securities Administrators’ chair, Jean St-Gelais, who is also the CEO of the Autorité des marchés financiers, was renewed for two years. St-Gelais was appointed CSA chair in April 2005.

“I am delighted to be able to assume this role for another two years and look forward to further co-operation with my colleagues from other jurisdictions to further harmonize and improve the regulation of capital markets,” St-Gelais says.

The term of CSA vice-chair Don Murray, chair of the Manitoba Securities Commission, was also renewed for two years.

• • •

(04/23/07)