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(June 1, 2007) There’s no better way to start the weekend than with a little giving. Announced Friday, Blake Goldring, chairman and CEO of AGF Management is donating $15.1 million to the University of Toronto.

The gift is meant to improve student life and athletics at the university, with $11 million slated to upgrade athletic programming and facilities at the Varsity Centre. If that sounds like a lot to improve campus sports, well, it is. In fact, it’s the largest athletics-related donation ever made to any Canadian university.

“The University of Toronto is extremely fortunate and very grateful to receive this support from the Goldring family,” said David Naylor, U of T’s president, in a release. “Their gift today will have a massive impact on the quality of experience offered to students of future generations.”

Part of the donation — about $4 million — will go toward improving the university’s student centre, while the remaining $100,000 is allotted to restoring Soldiers’ Tower, a U of T memorial dedicated to students, graduates and faculty members who died in both World Wars.

“As a family, we are delighted to contribute to projects that will further enhance the experience of students attending this university in the years ahead,” said Goldring. “These projects acknowledge that the best university experience should also provide students with opportunities to meet and socialize, and pursue a lifestyle that encourages fitness and well-being as a means to supporting their academic pursuits.”

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Covington Strategic Capital buys fund

(June 1, 2007) One of Canada’s largest venture capital fund providers is getting even bigger. Covington Strategic Capital announced Friday that it plans to acquire the assets of Financial Industry Opportunities Fund.

The purchase, which will see CSC buy the net assets of FIOF for Class A shares, is expected to bring in $5.1 million in assets to the fund. Currently, the CSC has net assets of about $8.3 million.

The deal is still pending regulatory approvals and the approval of both funds’ boards of directors and shareholders.

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Ontario government sets savings bonds rate

(June 1, 2007) Ontario’s provincial government announced the rates for its 2007 savings bonds on Friday.

Finance Minister Greg Sorbara set the five-year Step-up Bond interest rates at 3.90% this year, 4.05% in 2008, 4.15% for the year after, 4.25% in its fourth year and 4.60% in 2011. The three-year Fixed-Rate Bond interest rate was set at 4.10% for the first six months.

Sorbara also set the interest rate for the 2001–2006 Variable-Rate Bonds for the next six months at 4.10%.

With the 2000 Variable-Rate, the 2002 Step-Up and the 2004 Fixed-Rate Bonds maturing this year, purchasers can extend their benefits if they reinvest in 2007 Ontario Savings Bonds.

“When people buy OSBs, they are investing in the prosperity of their province,” said Sorbara in a release. “It’s a reliable investment that strengthens our economy and helps build a better quality of life in Ontario.”

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Russell Investments Group wins big

(June 1, 2007) If Russell Investments Group was a Hollywood movie, it’d likely be Titanic. The investments strategies firm might not be scoring any Oscars, but it’s winning its fair share of awards nonetheless.

The company announced Friday that it had won 65 awards from Stamford, Conn.-based magazine Plan Sponsor‘s transition management survey, including Best in Class in 16 categories.

Russell also received, for the third year in a row, top marks in every category possible in Globe Investor magazine’s transition management survey, bringing Russell’s transition management awards total to more than 100 over three years.

“I am very proud of our extraordinarily deep and experienced transition management team worldwide, and we are honoured that the industry recognizes Russell year after year for its expertise, ability and dedication to the client’s best interest,” said David Rothenberg, the firm’s managing director.

(06/01/07)