On The Shelf:

Previous product stories this week: | MON | TUE | WED | THU |

(February 5, 2008) TD Bank Financial Group’s logo might already be green, but soon the company’s entire operation will be environmentally friendly.

The bank announced Tuesday that its Canadian operations would be carbon neutral by 2010.

The bank is also launching the TD Emissions Reduction Fund, which will allow the organization to invest in projects with “strong sustainability and community benefits, including initiatives to assist non-profit organizations in reducing their emissions.”

Ed Clark, TD’s president and CEO, says reducing greenhouse gas emissions is a “key element of our ongoing commitment to take climate change and the environment seriously.”

He says the bank will start the process with energy-saving programs. It’ll also use green power, such as wind and low-impact water power, and make investments to reduce emissions outside TD “to offset any emissions we cannot eliminate.”

“Our primary focus is to find ways to minimize our actual emissions footprint,” says Mike Pedersen, group head of corporate operations at TD. “As we continue to grow, we will constantly look for opportunities to be as efficient as possible in our energy use. This includes greener buildings, lower energy consumption, and expanded recycling programs.

• • •

RBC Asset Management offers series I funds

(February 5, 2008) RBC Asset Management is now offering a series I option on 13 of its funds. The units are available in fee-based accounts offered through full-service dealers.

To purchase the fund, investors must cough up a minimum of $500,000 per fund.

Some of the funds that will be available under the series I option are the bank’s Bond Fund, Jantzi Balanced Fund, Canadian Dividend and Equity Funds, the U.S. Equity Fund and the O’Shaughnessy U.S. Value Fund.

• • •

O’Shaughnessy hires managing director

(February 5, 2008) O’Shaughnessy Asset Management, a Stamford, Conn.-based quantitative equity money management firm, revealed that it is hiring Sean McCaffrey as a managing director.

McCaffrey, a veteran in quantitative strategies, worked as director of marketing and client relations at LSV Asset Management for eight years. At LSV he led the firm’s Canadian marketing efforts.

At OSAM he will be involved in the company’s institutional affairs, with an initial focus on the consulting community.

• • •

CIBC beefs up its Portfolio Services with new offering

(February 5, 2008) CIBC is adding a new offering to its Personal Portfolio Services — the Global Monthly Income Balanced Portfolio.

The new product offers investors income generation, global diversification and professional portfolio management through a portfolio of Imperial Pools.

The bank says this is ideal for investors who want a diverse monthly income stream from global and domestic securities, including dividends, capital gains and a return of capital.

The portfolio will invest in six underlying Imperial Pools, with its biggest position in the Imperial Global Equity Income Pool. That pool is managed by BlackRock Investment Management and KBC Asset Management International.

“We are pleased to add BlackRock and KBCAM’s investment expertise to the CIBC Personal Portfolio Services lineup,” says Steve Geist, president of CIBC Asset Management. “The combination of their proven superior performance and complementary styles is very well positioned to offer our investors strong consistent long-term performance and good income generation.”

• • •

Marret and Arrow Hedge team up to launch new hedge fund

(February 5, 2008) Arrow Hedge Partners and Marret Asset Management announced that they’ve launched a hedge fund incubator fund called the Accelerator Capital Fund.

The companies plan to invest the Accelerator’s funds in early-stage hedge funds managed by seasoned “but largely undiscovered” Canadian investment managers.

These early-stage hedge funds will use a number of alternative investment strategies, including long/short equity, relative value, event driven and global macro.

Accelerator has already secured commitments for about $150 million from institutional investors, including a major Canadian bank, a pension fund and a wealth management firm on behalf of some of its individual high-net-worth investors.

“Both Arrow and Marret have extensive experience in identifying top hedge fund managers and in seeding and managing early-stage hedge funds,” says Barry Allan, president and CEO of Marret. “We realize that the initial capital is often the most difficult to obtain. Accelerator will provide this and more, including operational and risk management support and capital raising assistance. We’re pleased to put our collective experience and resources to work for Accelerator.”

Peter Rizakos, as president of Accelerator Capital Management, will oversee the fund.

(02/05/08)