The investigation into the alleged misappropriation of funds by Norbourg Asset Management Inc. has prompted Northwest Mutual Funds Inc. to issue a confirmation that Northwest has always been completely separate and unrelated to Norbourg.

Northwest made the announcement in response to customer enquiries.

Northwest, which entered the Canadian mutual fund industry in 1997, is wholly owned by La Federation des Caisses Desjardins du Quebec

The fund company has offices in Toronto, Montreal and Vancouver and manages over $1.7 billion in assets under administration.