On The Shelf:

(January 31, 2008) Horizons Funds has appointed JovInvestment Management as portfolio manager of the Horizons Mondiale Fund, replacing Mondiale Asset Management, effective immediately.

With the departure of Mondiale as manager, the fund is being renamed Horizons Global Contrarian Fund. The new manager has retained HCS Management Inc. to provide proprietary analytical tools that JovInvestment will use in its portfolio management.

“This is a welcome expansion of our existing relationship with HCS,” said Philip Armstrong, president and CEO of Horizons Funds. “Their unique selection process makes them an ideal choice to help us build upon and improve the fund’s investment strategy.”

Both Horizons and JovInvestment are subsidiaries of Jovian Capital Corporation.

Claymore offers laddered bond ETF

(January 31, 2008) Claymore Investments has rolled out a new ETF that emulates a laddered bond strategy. The Claymore 1–5 Year Laddered Government Bond ETF began trading today on the Toronto Stock Exchange.

“The bond ladder strategy is considered one of the best ways to build a bond portfolio,” said Som Seif, president and CEO of Claymore. “We believe it has a place in most investors’ portfolios, and we are excited to be partnering with DEX, the leader in Canadian fixed income indexes, to bring this to the market.”

The management fee on the ETF is 15 basis points. It is available in two versions, the common unit (CLF) and the advisor class unit (CLF.A).

(01/31/08)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.