Veteran fund manager resurfaces

(January 28, 2005) Veteran fund manager Bill Kanko is back in the investment game. His new firm, Black Creek Investment Management, was registered by the Ontario Securities Commission earlier this month. Newport Investment Counsel announced Friday that Black Creek has been appointed sub-advisor to the Newport International Equity Fund.

Kanko has more than 20 years of industry experience. He resigned from AIM Trimark last year, where he acted as lead manager on two of the firm’s largest funds, the $3 billion Trimark Fund and the $5.6 billion Trimark Select Growth Fund.

“While I’ve decided to take some time off before pursuing the next phase of my career, I do regret leaving such a fine group of investment professionals. It has been a privilege to work with and learn from some of the best portfolio managers in the country,” he said at the time.

Kanko joined Trimark nearly 20 years ago, working with the firm’s investment management team from 1985 to 1994. He left to form his own firm and spent some time with Mackenzie Financial before hooking up with Trimark again in 1999.

Since leaving Trimark last May, Kanko’s next move has been the subject of widespread speculation among industry watchers, with analysts divided over whether he would opt to set up his own shop or join another established big-name fund company.

Newport also announced today that, effective February 1, 2005, the management fee payable by The Newport International Equity Fund will be reduced from 2.2% plus operating expenses of the fund to 2% plus operating expenses of the fund.

Filed by Doug Watt, Advisor.ca, doug.watt@advisor.rogers.com