Beck, Talvest terminate agreement

Article Abstract:

Montreal, Quebec-based Talvest Fund Management Inc. will have its consulting and licensing deal with Toronto, Ontario-based Nuala Beck & Associates cancelled on Oct. 31, 1998. The termination of the two companies' agreement was blamed on the poor performance of the C$110.6-million Talvest New Economy Fund, which is being handled by Talvest Fund Management. The Talvest New Economy Fund is an equity fund that is targeted to be invested in business sectors with fast-growth potentials, such as telecommunications, health and medicine, computers and semiconductors and communications.

Comment:

Will have its consulting & licensing deal w/ Talvest Fund Management cancelled on 10/31/98

Strategic alliances, Investment Companies, Open-End Investment Funds, Quebec, Talvest Fund Management Inc., Nuala Beck and Associates

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Canada Trust acquires zero-fee fund dealer Affinity Group

Article Abstract:

Canada Trust Co., a London, Ontario-based company, has acquired Affinity Group Inc., a Toronto, Ontario-based mutual fund dealer that conducts business as Affinity Investments, for an undisclosed amount. Canada Trust executive VP of insurance Bernard Dorval said the acquisition of Affinity Group, which specializes in selling zero-fee, front-end mutual funds, blends well with the company's affinity marketing strategy. The strategy calls for the establishment of partnerships with diferrent organizations to sell financial products.

Comment:

Acquires Affinity Group Inc of Toronto, Ontario for an undisclosed amount

Asset sales & divestitures, Acquisitions & mergers, Nondepository Credit Intermediation, Nonbank Credit Institutions, Financial institutions, Canada Trust Co., Affinity Group Inc.

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Commission price wars escalate

Article Abstract:

Zero-fee fund deal Sterling Mutuals Inc of Windsor, Ontario is offering to rebate the entire commission on back-end load funds to investors. The mutual fund's rebates will be in the form of extra fund units in a fund. However, investors in of a back-end load funds must hold it for a specified period or they will be slapped with a steep declining fee if they redeem before the period ends. Sterling's move counters the recent offer by bank-owned mutual funds to rebate a portion of their up-front commissions.

Canada, Marketing procedures, Sterling Mutuals Inc.

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