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(September 13, 2006) Mackenzie Investments announced it will call a special meeting of investors, scheduled for November 6, to propose changes to the Mackenzie Universal Future Fund and the Mackenzie Universal Future Capital Class.

The purpose of the meeting will be to consider a merger of the two funds and to consider investment objective changes for the continuing fund. The funds currently invest mainly in Canadian equity securities, with approximately 50% of the portfolio invested in knowledge and service companies and those utilizing new technologies.

Capital Class investors will be asked to consider changes that would remove the fund’s Canadian equity and technology bias and broaden the fund’s investment universe so that at least 85% of its assets would be invested in equity securities of companies in various sectors across North America.

If approved, the new fund will be renamed the Mackenzie Universal North American Growth Class. The company says proposed changes give the fund’s management team, headed by Ian Ainsworth, more sector flexibility to over- and under-weight the technology sector and choose stocks from a larger universe of companies, effectively offering investors greater diversification. Merging the funds into the capital class structure will also allow investors to transfer between funds in the capital class family without triggering immediate tax consequences.

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Russell Canada appoints new president

(September 13, 2006) Russell Investment Group has appointed Irshaad Ahmad president and managing director of Russell Investments Canada, replacing outgoing president, Joe Perrin.

The former head of Mercer’s investment consulting business in Toronto assumes the role after spending the past two years as head of Russell Canada’s institutional business, overseeing the consulting and sales and service of institutional funds, alternative investments and implementation services.

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Golombek wins inaugural CA award

(September 13, 2006) The Institute of Chartered Accountants of Ontario is honouring the industry’s young talent with a new Award of Distinction, awarded every three years, to top CAs under 40 who have made an early impact, “bringing distinction to themselves and their profession through leadership and achievement in their professional, community and personal lives.”

Jamie Golombek, vice-president, taxation & estate planning at AIM Trimark Investments, is one of 12 chartered accountants chosen as the initial ICAO Award of Distinction recipients, following a rigorous nomination and selection process that culminated in a secret-ballot vote of the ICAO council. Only CAs born in 1966 or later were eligible for consideration for the 2006 awards.

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Manulife Bank opens Halifax office

(September 13, 2006) Manulife Bank plans to expand its Canadian banking operations to Halifax at the beginning of next year, by opening the first bank office operation beyond the company’s Canadian division head office in Waterloo, Ont., on January 1, 2007.

The company plans to employ 150 people in the new office within the next five years, by adding about 30 employees annually through 2011, based on staff requirements to handle additional business.

“We provide all of our products to clients through a partnership with financial advisors across Canada,” says president and CEO, J. Roman Fedchyshyn. “Manulife Bank’s philosophy is that banking is a cornerstone in a person’s overall financial plan and advisors can assist clients in integrating banking onto their portfolio.”

The bank says it currently has more than $7 billion in assets under management with rapid growth in its Manulife One mortgage product, investment loans and other bank account products.

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Desjardins expands south of the border

(September 13, 2006) Desjardins Group announced today that its Caisse centrale Desjardins will open a new branch in the United States to increase its support to large and mid-sized Canadian companies that are expanding south of the border.

The U.S. branch will also develop business contacts with local enterprises that would consider expanding into Canada.

“The presence of Desjardins Group across the border is not new,” says Caisse central president and COO, Jean-Guy Langelier. “This new branch will replace Desjardins Commercial Lending USA and entitle us to enlarge our product and service offer[ings] to our business clientele and better support their projects across the border.”

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