Briefly:

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

(June 28, 2006) Guardian Group of Funds has announced the reopening of its GGOF Monthly Dividend Fund, which was closed in March 2004, due to a lack of investment opportunities in a key sector of the fund’s mandate, which required the fund hold at least 50% of assets in exchangeable or retractable preferred shares and floating rate preferred shares.

Since the closure, the markets have seen the creation of synthetic retractable preferred shares with lower volatility than traditional perpetual preferred shares. The fund’s reopening will be effective with GGOF’s annual prospectus renewal on or about July 5, 2006.

“Over the past few years, funds such as this have accounted for the bulk of new fund flows,” said GGOF chief investment office Gavin Graham. “GGOF Monthly Dividend Fund is well regarded because of its strong returns — it was one of the original monthly-pay income funds and still enjoys preferred status within the grouping.”

GGOF also announced the reopening of the GGOF Monthly High Income Fund to new investors, also effective on or about July 5, 2006, after the fund was capped to new investors in October 2002.

• • •

Bank of Canada names special advisor

(June 28, 2006) The Bank of Canada has appointed Professor Steve Ambler as special advisor for 2006-2007, a role created to bring additional perspectives to monetary policy discussions.

Ambler is a professor at the Université du Québec à Montréal has been working as a part-time consultant for the Bank since 2004. He holds an MSc in economics from the London School of Economics and Political Science, and a PhD in economics from Stanford University.

• • •

Manulife closing four MIX funds

(June 28, 2006) Manulife Mutual Funds has announced plans to cap the retail series of MIX International Growth Class, MIX F.I. International Portfolio Class, MIX U.S. Large Cap Core Class and MIX F.I. Growth America Class.

The Advisor and F series of these funds will be closed to new purchases effective July 10, 2006, before their termination October 16, 2006.

Manulife also announced that effective August 24, 2006, Bissett Investment Management will no longer act as sub-advisor on the MIX Canadian Large Cap Core Class. MFC Global Investment Management will retain sole responsibility for management of the fund, with Pat McHugh assuming the role of lead manager.

• • •

C.A. Bancorp files “Total Strategy” fund prospectus

(June 28, 2006) C.A. Bancorp has announced the filing of a preliminary prospectus for the Sentry Select Total Strategy Fund with the securities regulatory authorities in each of the provinces and territories of Canada.

With Sentry Select Capital as investment manager, the fund will invest in a diversified portfolio of primarily Canadian equity and equity-related securities, including income trusts. Up to 25% of the trust’s assets will be invested in equity and equity-related securities of Canadian small and middle-market private and public companies.

The offering price is $10 per unit with a minimum subscription of 200 units.

• • •

CPP declared financially sound

(June 28, 2006) Canada’s finance ministers have declared the Canada Pension Plan to be financially sound, concluding their triennial review of the plan.

“Our analysis suggests that the 9.9% contribution rate will be sufficient to sustain the plan into the foreseeable future,” said Jim Flaherty, federal minister of finance. “We have therefore agreed that the contribution rate will remain unchanged.” Flaherty’s announcement would seem to pour cold water on reports that Ottawa was considering using its surplus to top up the CPP.

Assets in the plan are projected to hit $250 billion within the next decade.

• • •

CI boosts stake in tech firm

(June 28, 2006) CI Financial has increased its ownership stake in Perimeter Financial, a developer of financial services technology. CI now holds a 5.8% equity position in Perimeter.

“We share Perimeter’s vision that technology can improve the efficiency of the financial services industry,” said William Holland, CEO of CI. “Perimeter has the expertise, the networks and the people to continue to build true alternatives to conventional practices. We have invested to share in its growth.”

Perimeter owns a subsidiary dealer, Perimeter Markets, which operates two online marketplaces — BlockBook for the Canadian equity block market, and CBID for Canadian fixed-income and futures markets. The company also provides a suite of service offerings in asset management, record-keeping and reporting.

• • •