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(August 16, 2006) London Life Investment Management has announced it has changed its name to London Capital Management Ltd. The company said the change was made to “reflect expanded investment mandates and distribution.”

London Capital Management manages about $11 billion in assets under 20 different investment mandates. The newly-named company remains a wholly-owned subsidiary of London Life Insurance Company, a part of Great-West Lifeco.

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Loring Ward sells NY business

(August 16, 2006) Loring Ward International has announced the sale of its New York business management unit to a firm headed by Barry Klarberg.

Klarberg was the senior manager and former owner of the business, before it was purchased by Loring Ward. According to a press release, the deal includes “cash consideration at closing of $5.15 million, plus certain contingent and deferred payments.”

Loring Ward is the U.S.-focused wealth management firm spun off from Assante in 2003, following CI’s purchase of Assante.

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GGOF launches deep-value global fund

(August 16, 2006) Guardian Group of Funds has launched the GGOF Global Absolute Return Fund. GGOF says the fund is suited to conservative investors, because it will focus on capital preservation, while investing with a value orientation. Its global mandate frees the fund from geographic restrictions, and there are no capitalization restrictions.

“While stock markets have enjoyed a substantial bull market for the last four years, this has led to stretched valuations and a willingness to pursue returns from more volatile and less transparent markets, while ignoring the risks associated with such investments,” said Gavin Graham, GGOF’s chief investment officer. “This makes it a particularly appropriate time for GGOF to launch a fund focused on delivering absolute positive returns.”

The fund will hold a relatively concentrated portfolio of approximately 40 holdings, primarily equities, with no limitations on investing in other asset classes. Developed markets will be preferred over securities from developing economies. GGOF Global Absolute Return Fund will be managed by Matthew Haynes, director, global equities, at Lazard Asset Management (Canada) Ltd.

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Pets a factor in home reno?

(August 16, 2006) Ever wonder why your clients aren’t investing more? You may want to blame the dog. A new report out of RBC says Canadians have taken to remodelling their homes specifically for the pooch — or their favourite mouser, for that matter.

The survey found that 56% of us have pets in the house, and that 21% have altered their homes to accommodate the pets. Such projects range from built-in, dedicated pet sleeping areas to custom bath tubs.

“A few of these alterations — the addition of secure ‘pet portals’ through doorways or windows, or reinforced ‘grooming’ countertops — are as much for the pet owner’s convenience as for that of their pets,” said Mike Mayo, senior manager, home equity products at RBC Royal Bank. “Others involve much more extensive renovations, to make our homes as pet-friendly as they are people-friendly.”

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(08/16/06)