MFC Global Investment Management has been selected as investment advisor for MD Dividend Fund, a mutual fund offered by MD Funds Management Inc., of Ottawa.

Funding for the approximately $1 billion combined equity and fixed income mandate was finalized Monday..

“This important mandate reflects the confidence that was placed in MFC Global Investment Management’s strong investment management and servicing capabilities,” says says J-F Courville, president of MFC Global Investment Management.

“I am proud that the members of our team were given this opportunity to express their collective talent and commitment to MD Funds and to the investors that will benefit from this.”

In managing MD Dividend Fund, MFC Global Investment Management is employing a team approach, led by Alan Wicks, senior portfolio manager and head of the Toronto-based large cap value equity team, and by Terry Carr, managing director and head of Canadian fixed income.

The fund’s investment objective is to maximize dividend income in a manner consistent with capital conservation. The fund invests in dividend producing common shares (including income trusts) as well as high quality preferred shares of Canadian corporations, bonds and short-term debt securities.

“The MD Dividend Fund has provided investors with an excellent source of tax-efficient income for nearly two decades. Preserving this performance was important and MFC Global Investment Management impressed us with their rich process and passion for investment selection. We look forward to our relationship with MFC Global Investment Management as they contribute to our clients’ investment goals,” says Craig Maddock, assistant vp – investment management, MD Funds Management.

IE