On The Shelf:

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(July 9, 2008) AIM Trimark has announced the appointment of Scott Margach as vice-president and portfolio manager, giving him the lead on the AIM Canadian First Class. Margach is a former vice-president and director of TD Asset Management.

“Scott is a great addition to our line-up of industry-recognized fund managers,” said Graham Anderson, AIM Trimark’s chief investment officer. “He brings significant portfolio management expertise to the position and we’re very excited to have him join our organization.”

Margach’s fund had been managed by Glen Hilton of Invesco Aim Advisors, Inc., but will now be managed by AIM Trimark Investments. Hilton is no longer with Aim Advisors.

Effective August 11, 2008, the fund will be renamed the Trimark Canadian First Class, with its investment strategy amended to reflect Margach’s approach to the market. His new team will “look for companies that are industry leaders with dominantn market positions, have strong balance sheets and financial strength, and are run by proven management teams,” according to a press release.

The company also announced that AIM Global First Class will no longer be managed solely by Invesco Aim Advisors, but will be sub-advised by a team of 13 from Invesco Global Asset Management. The fund will be renamed Invesco Global Equity Class, effective August 11, 2008.

Finally, AIM Trimark Core Canadian Equity Class will see its investment strategy amended effective immediately, to split assets into two approximately equal portions to be managed by teams from AIM Trimark and Invesco Aim Advisors.

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BetaPro launches emerging market ETF

(July 9, 2008) BetaPro Management has announced yet another addition to its stable of matched bull and bear exchange-traded funds, this time providing exposure to the MSCI Emerging Markets index.

“Many investors have increased their portfolio exposure to emerging markets to capture the above-average growth potential they see,” said Howard Atkinson, president of BetaPro. “But volatility in these markets remains high and the range of returns across various emerging markets can vary widely. Our new emerging market ETFs can help investors more effectively manage their exposure to this important asset class.”

As with past offerings, the Horizons BetaPro MSCI Emerging Markets Bull Plus ETF offers 200% direct exposure to the underlying investment, while the Horizons BetaPro MSCI Emerging Markets Bear Plus ETF provides 200% inverse exposure. Both funds commence trading on July 9, 2008.

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Invesco ETF pushes boundaries

(July 9, 2008) Part of the beauty of ETFs is that you don’t have to wait for the product to launch in Canada. Invesco PowerShares has listed an ETF on NASDAQ that offers investors exposure beyond the emerging markets.

The PowerShares MENA Frontier Counties Portfolio provides access to “certain equity markets” in the Middle East and North Africa, according to the company.

The portfolio is based on the NASDAQ OMX Middle East North Africa index, which is “designed to measure the performance of the largest and most liquid securities of companies domiciled in Middle Eastern and North African countries included in the index that have smaller economies or less developed capital markets than traditional emerging markets.”

Some of the countries represented in this index are Egypt, Morocco, Oman, Lebanon, Jordan, Kuwait, Bahrain, Qatar and United Arab Emirates.

“The PowerShares MENA Frontier Countries Portfolio replicates an index that takes into account certain foreign ownership limitations encountered when investing in certain countries in the Middle East and North Africa,” said Bruce Bond, president and CEO of Invesco PowerShares.

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Regulators okay Manulife Mawer line

(July 9, 2008) Manulife Mutual Funds has received regulatory approval to launch Manulife Mawer Funds, which are now available exclusively through financial advisors.

The new suite of funds offers seven investment mandates managed by Mawer Investment Management Ltd., which has sub-advised funds for Manulife since 2005.

“We look forward to a very rewarding relationship with Mawer and believe that the new addition of the Manulife Mawer lineup of funds provides further evidence of our commitment towards helping advisors provide the highest quality investment options for their clients,” said Jeff Ray, assistant vice-president, mutual fund products, Manulife.

(07/09/08)