Trimark funds hit by almost $1-billion in net redemptions
Article Abstract:
Trimark Financial Corp.'s investors withdrew nearly C$1 billion out of the firm's mutual funds. The high pull-out rate was brought about by the weak performance of Trimark's Canadian and international funds. Analyst James Dancy of C.M. Oliver & Co. stated that it would take Trimark at least one year to return to profitability. Trimark posted new sales worth C$850 million in the fiscal first quarter that ended Jun. 30, 1998, yet the mutual fund manager also reported it incurred C$1.8 billion in redemptions, resulting in a net outflow worth C$966 million for period.
Comment:
Its investors withdraw nearly C$1 billion out of the firm's mutual funds
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Trimark financial woos high-profile fund manager from Spectrum United
Article Abstract:
Trimark Financial Corp, Canada's fourth-largest fund firm, has hired high-profile fund manager Catherine Delaney to help control the flow of redemptions from its Canadian stock funds. The company, which has around C$23-bil in assets, has been besieged by redemptions for over a year. Net redemptions declined to C$428-mil in Mar 1999 from C$637-mil in Feb 1999. According to Brad Badeau, a Trimark president, Delaney was hired because of her proven track record in the mutual fund industry.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Sleeman stock jumps 17% on Stroh deal
Article Abstract:
Sleeman Brewers Ltd of Guelph, Ontario, has announced it will pay Stroh Canada C$39 million in cash for the Canadian rights to sell the Stroh family of beers including Old Milwaukee, Rainer and Stroh's. Sleeman said that the deal would add some C$60 million to its revenue in 2000 and boost its earnings by C$5 million of 30 cents per share. Sleeman controls 42% of the market for high-price beers in Canada.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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