Dundeewealth Inc. of Toronto has entered the European market with the launch of its new corporate-class fund family, under the Dynamic Investment Fund banner.
The mutual fund family will be distributed in Europe through DundeeWealth’s European subsidiary, DF Investments SA and marks the DundeeWealth’s first major entry into a foreign market. The fund will be made available in European Union member states, including Luxembourg, Britain and France.
“Our launch into Europe represents a low-risk entry point into another avenue for distribution,” says David Whyte, vice chairman of distribution and investments at DundeeWealth.
Earlier this year, David Goodman, president and CEO of DundeeWealth, had expressed interest in expanding outside Canada after a Toronto CFA Society luncheon in March. He mentioned the possibility of pursuing international opportunities in Europe or growing into the U.S.
To mark the launch fo the new fund family, Goodman and hedge fund manager Rohit Sehgal travelled to Luxembourg on April 15 to introduce the lineup of six Dynamic-brand funds that will help increase Canadian exposure within the market. The team then travelled on to London, where they continued the company’s European road show, meeting with hedge fund managers, financial advisors and investors.
“We see this more from a long-term perspective,” says Whyte. “We are planting a seed, without taking on too much risk, to learn how we will be accepted.”
The six funds within the corporate-class fund family are modelled after DundeeWealth’s Canadian counterparts and include Dynamic Power Canadian Growth Fund, managed by Sehgal; Dynamic Focus + Resource Fund, managed by company founder Ned Goodman; Dynamic Precious Metals Fund, managed by Robert Cohen; Dynamic Power American Growth Fund, managed by Noah Blackstein; and Dynamic Global Dividend Value Fund and Dynamic Global Discovery Fund, both managed by David Fingold.
The fund family will provide European investors immediate access to one of Canada’s leading investment management teams, as well as to Canada’s strong economy and commodities market.
“Our offerings in Europe will allow investors to benefit from our country’s strong capital markets and global resources expertise,” said Goodman in a statement to the European market. “DundeeWealth has a reputation in Canada for investment excellence and product innovation. The Dynamic Investment Fund will allow European investors to take advantage of our industry-leading investment talent.” IE
DundeeWealth enters Europe
Corporate-class funds to be distributed by firm’s European subsidiary
- By: Clare O’Hara
- April 28, 2008 April 28, 2008
- 14:11