Managed Money Reporter Newsletter — Issue 113, June 1996


Editors: Carl Spiess & Allan McGlade



Trimark launches Discovery Fund

Trimark mutual funds are launching an exciting new international specialty equity fund (20% RSP eligible) run by Bob Krembil, Rick Serafini and Richard Whiting.

The Trimark Discovery Fund will invest in idea-driven companies in the technology, telecommunications, biotechnology and scientific fields. The fund also intends to invest in entrepreneurial companies using innovation to redefine a mature market. Simply speaking, the underlying concept behind the Trimark Discovery Fund is to pursue idea driven companies throughout the world which have the capability to produce exceptional growth and returns. The fund managers will pursue companies that are primarily small to mid-sized (with a capitalization of $100-500 U.S.),but will also investigate larger corporations with the drive for innovation.

After all, the managers for the Trimark Discovery Fund believe that "if you'd had the foresight to invest in compact disks, in-line skates, or even air bags when only a few others saw their future value, today you'd be very wealthy." You can't make up for missed opportunities, but you can capitalize on the opportunities of the future.


Working Ventures On Hold for One Year

Working Ventures recently announced that they were placing a cap on the fund for one year. Therefore until further notified, the fund will no longer issue or sell new shares.

Canada's leading labour sponsored fund, Working Ventures currently has $885 million under management - up a staggering 40% due in large part to the 1995 RSP season. It has 19% or $168.1 million invested in small and medium sized businesses with the rest remaining in T-Bills and Corporate bonds. New government regulations stipulate that the labour sponsored funds have less time to invest at least 70% of the money raised in Ontario and money already received must be invested by December 31, 1997. From January 1997, Funds must invest half the money from each RSP season in just 10 months, with the rest of the 70% investment quota to be invested within 22 months. Therefore, by reducing capital into the fund, the managers believe they will be able to increase the percentage of the portfolio in venture investments as quickly as possible without reducing investment standards. Once this has been accomplished, Working Ventures will again be open for sale to the public.


Dynamic & 20/20 Change Fund Names

As of May 15, 1996, Dynamic Mutual Funds have changed the names of the following funds:

  • Dynamic Managed Portfolio is now Dynamic Team Fund.
  • Dynamic American Fund is now Dynamic Americas Fund.
  • Dynamic Global Green Fund is now Dynamic Global Millennia Fund.

As of June 18, 1996, the following changes have taken place at 20/20 Mutual Funds:

  • Canadian Asset Allocation Fund is now Canadian Tactical Asset Allocation Fund and will be managed by BZW Barclays Global Investors (BZW was formerly known as Wells Fargo Nikko). The fund itself was previously managed by Connor Clark & Lunn.
  • American Tactical Asset Allocation and RSP International Equity will also be managed by BZW.
  • Income and Money Market Funds will be managed by Clive Coombs and Warren Goldring of AGF Management.

 



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