Northwest Mutual Funds Inc. plans to reopen the Northwest Specialty Equity Fund, effective tomorrow.

A portion of the assets and management responsibilities will be assumed by Montrusco Bolton Investments Inc. Montrusco is also the portfolio advisor to the Northwest Specialty Growth Fund.

Current lead portfolio advisor, Deans Knight Capital Management Ltd. will eventually manage approximately one-third of the portfolio. All new money will go to Montrusco, and some current assets may be shifted to Montrusco to achieve this split of responsibilities. Montrusco, lead by manager Peter Harrison, will manage the remaining portion of the fund using an uncorrelated small-cap management style. The portfolio’s investment objectives will not change.

“The Northwest Specialty Equity Fund was closed in January 2005 in the best interests of unitholders, and it is being reopened for the very same reasons,’ said Michael Butler, president and COO of Northwest Mutual Funds. It plans to cap the fund again when assets reach $500 million.

“Reapportioning the investment responsibilities has many benefits. First, Deans Knight can focus on managing at an asset level more appropriate for their small-cap management style. Secondly, the addition of Montrusco means that two of the industry’s most successful small cap managers are managing our fund. And finally, this diversification of small-cap management styles will allow Northwest to accept new money into the Fund,” continued Butler.

Portfolio manager Wayne Deans of Deans Knight, who has been the sub-advisor to the Northwest Specialty Equity Fund for the past 11 years, commented, “Even with the fund closed for over a year now, assets have continued to grow from capital appreciation. The reopening of the fund and Montrusco’s involvement allows the fund to once again fully participate in the small cap market and maximize value to investors.”