Toronto-based Goodman & Co. Investment Counsel Ltd. has announced a major overhaul of a number of Dynamic mutual funds to reduce fees and eliminate overlapping investment strategies. “We’re leading the industry in performance and we have been gathering assets under management in excess of our industry share,” president and CEO David Goodman says in a release. “This plan simplifies our business, making it easier for clients to work with us as we continue to grow.” The management fee for eight Dynamic funds is reduced by 10 to 50 basis points, effective immediately. As well, management fees of 13 funds will drop in mid-November when they merge into continuing funds with lower expenses, pending investor and regulatory approval. Goodman & Co. also proposes to rebrand or merge the Cartier family of funds. Cartier Canadian Equity Fund and Cartier Global Equity Fund will continue to operate, and will be rebranded as part of the Marquis investment program in early 2006. Goodman & Co. proposes to merge Cartier Bond Fund, Cartier Small-Cap Canadian Equity Fund and Cartier Money Market Fund into established Dynamic funds with similar objectives, and to merge Cartier Multimanagement Portfolio into MultiPartners Balanced Growth RRSP Portfolio. MultiPartners Balanced RRSP, MultiPartners Balanced Growth RRSP and MultiPartners High Growth RRSP Portfolios, which total $275 million in net assets, will continue to operate and also will be rebranded as part of the Marquis investment program in early 2006. The streamlining initiative also proposes the mergers of MultiPartners Global Balanced, MultiPartners Balanced Growth and MultiPartners High Growth portfolios into three Radiant Strategic portfolios. In all, 27 mutual funds will be merged into other mutual funds. Finally, the firm intends to remove the requirement to invest primarily in Canadian securities from the investment objectives of several of its funds, which will be reflected in new names: Dynamic Canadian Precious Metals Fund will be renamed Dynamic Precious Metals Fund; Dynamic Canadian Technology Fund will be renamed Dynamic Technology Fund; and Dynamic Focus + Canadian Fund will be renamed Dynamic Focus + Equity Fund.
Goodman & Co. streamlines fund lineup
- By: Lara Hertel
- November 2, 2005 June 1, 2019
- 12:28