Dundee Wealth Management Inc.’s board of directors has approved in principle a conversion of its investment management division, Goodman & Co., Investment Counsel Ltd. into an income trust.
It is intended that approximately 15% of Goodman & Co. will be offered to the public by way of an initial public offering. These transactions will be subject to the receipt of all necessary regulatory, stock exchange and third-party approvals. Management and the board of directors believe that an income trust structure would create benefits for shareholders of Dundee Wealth and offer a capital structure that is better suited to attract capital for future growth.
Goodman & Co., including Dynamic Funds, now manages more than $20 billion in retail and institutional assets. The company offers a wide range of wealth management solutions including mutual funds (Dynamic), portfolio solutions (Viscount and Marquis), limited partnerships (CMP and Canada Dominion), hedge funds, and high net-worth investment counsel.
Goodman & Co. to be converted into an income trust
Approximately 15% of Goodman will be offered to public by way of an IPO
- By: IE Staff
- October 10, 2006 October 10, 2006
- 16:25