Global Strategy to merge funds

Article Abstract:

Global Strategy Financial Inc., a Toronto, Ontario-based mutual fund, will merge several specialty funds into current international funds by Sept. 30, 1998. The proposed move is a result of the weakening interest of investors to specialty funds. The funds to be merged are as follows: the C$10.9-million Asia Fund, C$10.4-million Japan Funds and C$6.8-million Latin America Funds will merged into the C$153-million World Companies Funds; the C$7.3-million Diversified Asia Funds, C$8.5-million Diversified Japan Plus Funds and C$13.9-million Diversified Latin America Funds will be merged into the C$145.7-million Diversified World Equity Fund; and the C$6.2-million Diversified Foreign Bond Fund will be merged with the C$257.3-million Diversified Bond Fund.

Comment:

Will merge several specialty funds into current international funds by 9/30/98, due to weakening investor interest

Mutual Fund Mgmt Companies, Portfolio Management, Mutual funds, Global Strategy Financial Inc.

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Trimark investors pull out $1-billion

Article Abstract:

Trimark Financial Corp. investors pulled out a further C$1 billion in company mutual funds in the second quarter. The fund firm, which is based in Toronto, Ontario, announce on Oct. 22, 1998, that the latest quarterly figures have resulted in C$2 billion in total net redemptions for the six months ended Sep. 30, 1998. Trimark Financial reported C$1.5 billion in redemptions in the second quarter, but the firm had posted gross fund sales of C$486 million. The company posted C$22.8 million, or 24 cents per share, in profit for the second quarter.

Comment:

Its investors pulled out a further C$1 billion in company mutual funds in the second quarter.

Investment Companies, Open-End Investment Funds, Trimark Financial Corp.

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Wal-Mart takes expansion up a notch

Article Abstract:

Retail giant Wal-Mart Canada Corp. is planning to invest $500 million for expanding its business in Ontario region. It will open 21 new outlets by the end of 2007.

All Other Specialty Food Stores, Variety stores, Discount Stores, Planning, Canada, Company business planning, Wal-Mart Canada Corp.

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