Warren Goldring passes away

The Canadian mutual fund industry lost one of its founding luminaries today. C. Warren Goldring, co-founder and Honorary Chairman of AGF Management Ltd. has passed away. He was 81.

Warren Goldring has not been directly involved in the company’s operations for more than a decade.

“Warren was a great father, friend and colleague whose mentorship in business and civic leadership had a profound impact on me and everyone he touched,” AGF chairman and CEO, Blake C. Goldring said in a press release. “His legacy will live on in the enduring commitment we have at AGF to helping Canadian investors succeed.”

The elder Goldring started the company in 1957, opening the American Growth Fund with co-founder Allan Manford. It was the first U.S. equity fund available to Canadian investors.

By the end of March 2009, the company he founded reported almost $34.5 billion in total assets under management, and was the eighth largest mutual fund manager in Canada.

“Warren gave me my start in this industry and his mentorship played an important role in the success I’ve enjoyed in my over 40-year career with the firm,” said Bob Farquharson, AGF vice-chairman and portfolio manager. “I will miss Warren for his passion for the Canadian mutual fund industry and for his enduring friendship.”

Warren Goldring is survived by his wife of 55 years, Barbara, his sons Blake and Bryce and daughters Judy and Jane, as well as 11 grandchildren.

Among the honours he has received were the 1998 Canadian Investment Awards Career Achievement Award, and the 2002 Ontario Entrepreneur of the Year by Ernst & Young.

Goldring was not only a leader in the investment world, but was an active philanthropist as well, supporting organizations ranging from the University of Toronto, WWF-Canada, the United Way and Operation Dialogue.

“While Warren was proud of his accomplishments and contributions to the industry, he shied away from the spotlight and was guided by strong core values of hard work, integrity, generosity and service,” added Blake. “He believed that with prosperity came a sense of responsibility and an obligation to give back to the community.”

(04/14/09)