Briefly:

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(September 27, 2006) The BCSC will host a half-day dialogue this Thursday, Sept. 28, for investment industry professionals and market participants. The regulator is seeking input on how best to implement better securities regulation for investors and the industry.

“We have been working for several years to design and administer a more efficient and effective system of regulation that protects investors, the integrity of our markets, and fosters innovation,” said BCSC chair Doug Hyndman. “We are now putting these ideas into action with the help of industry and market participants.”

The conference will include insights from a number of international regulatory and industry leaders, including the following: Stephen Bland, director, small firms, and retail intermediary sector leader, Financial Services Authority, UK; Walter Lukken, commissioner, Commodity Futures Trading Commission, USA; and Penny Tham, group compliance, head of North Asia for ABN AMRO, Hong Kong.

Also in attendance will be representatives from other provincial regulators, including Bill Rice, chair, ASC, and OSC chair David Wilson. The IDA’s senior vice president of member regulation, Paul Bourque, will also offer insight.

The conference starts at 8 a.m. at the Four Seasons Hotel, 791 West Georgia St., Vancouver.

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CIBC, Manulife offer fresh PPN

(September 27, 2006) CIBC has teamed up with Manulife Investments to offer a principal- protected note deriving its performance from two underlying mutual funds. The note matures in 5.5 years.

The CIBC Manulife Investments Dividend Growth Deposit Notes, Series 2, is linked to the Elliott & Page Canadian Equity Fund and the Elliott & Page Dividend Fund, with CIBC providing the principal guarantee.

Assets will initially be weighted equally between the two funds, with the dynamic allocation strategy tinkering with the weightings as the market fluctuates. They include leverage potential of up to 200% and carry no cap on interest payable at maturity.

The Elliott & Page Dividend Fund is managed by Alan Wicks and has a portfolio of value and income assets worth more than $6 billion. The Elliott & Page Canadian Equity Fund, led by Shauna Sexsmith, has a portfolio of large-cap growth assets worth more than $400 million.

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Mackenzie overhauls lineup, cuts fees

(September 27, 2006) Mackenzie Investments has announced several changes affecting a number of its funds, including lower fees and some fund mergers.

Effective the close of business October 2, the firm will reduce its management fee on the Universal Global Future Capital Class, cutting series A fees by 25 bps, while series F and I will be cut by 20 bps. The management fee on these funds will fall to 2%, 1% and 1.35%, respectively.

Mackenzie also announced a plan to merge the Sentinel High Income Fund into its new Diversified Income Fund, which is scheduled to be launched in October. The new fund will invest in five underlying mutual funds, whereas the high income fund currently invests directly in income trusts, bonds and dividend-paying stocks. A meeting of unitholders is slated for November 22 to decide on the proposed merger.

Mackenzie has also announced it will change the name of its Select Managers fund lineup to “Focus,” effective November 6. The mandates of the eight available funds will remain the same, but management fees on the Select Managers Far East Capital Class will be cut by 25 bps on Series A, F and I, effective the close of business on October 31. This fund will also see a new manager take over, with Mackenzie Cundill Investment Management replacing Premier Asset Management Limited.

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GGOF launches PPN based on dividend growth fund

(September 27, 2006) Guardian Group of Funds has announced the launch of the Bank of Montreal GGOF C.O.R.E. Protected Deposit Notes, which are designed to deliver the performance of GGOF Dividend Growth Fund in the form of a principal-guaranteed note.

The note offers up to 200% exposure to the underlying fund, utilizing a dynamic asset-allocation strategy, and is available in various classes tailored to the investor’s needs. The total return class has a six-year term with distributions reinvested. The yield class has a 7.5-year term and kicks out a distribution equal to 50% of the portfolio’s return in the previous six months, if any.

The return of capital class also has a 7.5-year term and offers regular monthly distributions on a tax-deferred basis. All-in fees for the three classes of the note are capped at 2.6%.

(09/27/06)