Fund Library News Wire
| Friday, September 21, 2018
By Mike Keerma
The major North American stock indices shrugged off escalating trade
tensions between the U.S. and China, and, well, just about everyone else,
S&P 500 Composite Index
posted a gain of 0.9% on the week, while the Dow Jones Industrial Average
closed at a record high 26,743.50, for a gain of 2.2% on the week.
S&P/TSX Composite Index
rose 1.3%, buoyed by a 2.7% weekly advance in the price of
and a decline in the rate of inflation in July, to 2.8% from 3% in June.
Weakness among the U.S. tech giants, however, contributed to flat
performance in Friday’s session and kept the broader indices in check,
Nasdaq Composite Index
ran a marginal loss of 0.3% on the week.
* Mackenzie and Quadrus fund mergers.
and Quadrus Investment Services Ltd. announced seven proposed mergers that
it says will simplify the Quadrus product offerings. The proposed mergers,
effective next February, are as follows:
* Mackenzie fund mergers.
announced two fund mergers, saying in a release that the move makes it
easier for investors to navigate.
Effective next February,
Mackenzie Canadian All Cap Dividend Fund
will merge into
Mackenzie Canadian Large Cap Dividend Fund. And
Mackenzie Canadian All Cap Dividend Class
will merge into
Mackenzie Canadian Large Cap Dividend Class.
Martin Downie, Senior Vice-President, Portfolio Manager, and Tim Johal,
Vice-President, Portfolio Manager, will become the portfolio managers on
the Mackenzie Canadian All Cap Dividend mandate in addition to the
portfolio manager roles they already hold on the Mackenzie Canadian Large
Cap Dividend mandate.
* TD switches index providers for ETF lineup.
TD Asset Management
announced the it is changing the underlying index of each TD ETF from an
index provided by S&P Opco, LLC, a subsidiary of S&P Dow Jones
Indices LLC to an index provided by Solactive AG. As a result, three of the
affected TD ETFs are also changing their names, as set out in the table
* Manulife changes fund names.
announced that the subadvisor for
Manulife International Value Equity Fund
Manulife International Focused Fund
will change to Pictet Asset Management from Manulife Asset Management (US),
effective Oct. 31. As a result, Manulife International Focused Fund will
change its name to Manulife EAFE Equity Fund and Manulife
International Value Equity Fund will be capped to all new purchases.
In addition, Manulife announced that the
Manulife Global Equity Unconstrained Fund
will change to Manulife Global Franchise Fund and
Manulife Global Equity Unconstrained Class
will change to Manulife Global Franchise Class, effective
* Investors merges funds, makes name changes.
announced a host of changes to its lineup of mutual funds, to take effect
in February, including changes to objectives, names, and fund mergers.
Here’s the list. For more detail on these changes, see the
Investors news release.
Check Fund Library’s
Market Activity page
regularly for active updates on key market indexes and commodities.
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