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(April 7, 2008) McLean Budden is targeting fee-based advisors by launching an F-Class version of all 11 of its McLean Budden mutual funds.

F-Class mutual funds are designed for accounts where clients pay a fee to their advisor based upon assets under management. McLean Budden will not remunerate the advisor or pay trailer commissions on F-Class holdings.

“McLean Budden is pleased to be able make our mutual funds available to more Canadians and further our support of the fee-based advisor in Canada through this F-Class offering,” says Roger Beauchemin, president and CEO of McLean Budden. “With the launch of F-Class, McLean Budden mutual funds can now be held by clients who work with their advisors on a fee-for-service basis. This offering builds on our Separately Managed Account solutions that are offered through leading full-service brokerage and investment firms.”

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Kennedy Capital Management to run RBC’s U.S. Small Cap Pool

(April 7, 2008) RBC Asset Management has appointed Kennedy Capital Management (KCM) as sub-advisor for the RBC Private U.S. Small Cap Equity Pool effective April 14, 2008.

RBC says KCM was founded in 1980 with a focus on investing in small- to mid-cap securities on behalf of high-net-worth individuals. KCM currently manages approximately $4 billion US in assets across several small-cap and mid-cap equity strategies.

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National Bank revamps mortgage product

(April 7, 2008) National Bank has added two new features to its National Bank All-In-One mortgage line of credit — an integrated mortgage loan and the possibility of credit insurance coverage that includes life, disability and critical illness protection.

The All-In-One is a line of credit that allows clients to integrate bank accounts, short-term savings and borrowings into a single solution. Clients can manage their projects independently in separate accounts that are linked to their All-In-One.

National Bank clients can now integrate a mortgage loan into their All-In-One. In addition, to protect themselves against interest rate fluctuations, clients can set the rate (fixed or variable), in the form of a mortgage, for a portion of their All-In-One. Clients will also be able to access the repaid mortgage principal through their All-In-One.

The credit insurance will offer a number of features including complete coverage for life, disability and critical illness.

The premiums will be charged only on the balance used. There will be a possibility of insuring a lower amount than the authorized amount.

(04/07/08)