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(June 25, 2007) AGF Funds has named Marc-André Robitaille, president of Robitaille Asset Management Inc., as portfolio manager for the AGF Dividend Income Fund, effective immediately.

The announcement marks the return of Robitaille, who had managed the fund in the past. Since January 2007, the fund has been managed by Martin Hubbes, AGF executive vice-president and chief investment officer.

“AGF is pleased to have someone of Marc-André’s calibre and skills join us in a long-term exclusive arrangement. Marc-André has a successful and proven history of working well with AGF and for delivering impressive results that benefit unitholders,” said Randy Ambrosie, president, AGF Funds Inc. “His return to managing the fund also provides continuity, which is important to our investment management process.”

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AIM Trimark closing three funds

(June 25, 2007) AIM Trimark Investments has announced it will cap three of its funds effective July 13, 2007, at 4 p.m. Trimark Global Endeavour Fund, Trimark Global Endeavour Class and Trimark Global Mid-Cap Equity Private Pool will all be closed to new investors.

“Curbing inflows provides the best opportunity to deliver strong performance to existing investors,” says Phil Taylor, senior managing director and head of INVESCO PLC’s North American retail business, including AIM Trimark. “Our decision to say no to new money is an extension of our ongoing commitment to serving investors’ best interests.”

The stated purpose of the funds is to invest in “high-quality mid-cap businesses from anywhere in the world that are leaders in their industry, have a sustainable competitive advantage and strong future growth prospects.”

Existing investors continuing in the funds will be allowed to purchase additional securities and maintain their existing investment options.

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Exchange hopeful files with OSC

(June 25, 2007) There could soon be another entrant in the alternative market space, as egX Group announced today it has filed an application with the OSC.

“Ontario is an important market,” said Mary Wong, president, egX Canada. “We look forward to providing investment dealers and investors in Ontario direct access to a liquid and transparent marketplace for buying and selling real estate securities and related products.”

The BCSC has already recognized egX Canada as an exchange under section 24 of the Securities Act, R.S.B.C. 1996, c. 418. If approved by the OSC, egX will seek exemptive relief from other regulators.

The company is developing egX, a global securities exchange system designed for the listing and trading of real estate securities and related financial products.

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Mackenzie offers improved statements

(June 25, 2007) Mackenzie Investments has announced it will offer its Managed Account Statement to investors who hold at least $25,000 in its Keystone Portfolio Funds.

The specialized statements had previously been available only to investors in Mackenzie’s Symmetry managed portfolios and were known as Symmetry Statements. These statements have been recognized by client-communications-rating agency DALBAR.

The renamed Managed Account Statement includes personalized rates of return, a front-page market outlook and a clear summary of account changes over the previous calendar quarter. It also alerts investors to upcoming events and transactions such as the arrival of tax slips, scheduled rebalancing and details of systematic plans.

“This enhancement to Keystone Portfolio Funds is an important step in providing more integrated, client-centric investor reporting,” said Eric Grove, vice-president, Mackenzie Financial Services Inc. “Keystone Portfolio investors will now more clearly see the benefits of a well-diversified, managed portfolio.”

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RBC forges ahead on lower fees

(June 25, 2007) RBC Asset Management has announced it has received unitholder approval to set a fixed administration fee for all of its funds, effective July 1, 2007, with the firm footing the bill for the majority of operating expenses.

“The fixed administration fee ranges from 2 to 10 basis points on money market funds and fixed income funds, and from 10 to 20 basis points on balanced and equity funds,” said Frank Lippa, COO and CEO, RBC Asset Management. “This will reduce the management expense ratios on more than 80% of the RBC Funds.”

RBC also announced it was reducing the management fee for Series F units of the RBC Monthly Income Fund from 0.75% to 0.60%.

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(06/25/07)