Investors Group posts record profit

Article Abstract:

Investors Group Inc., a mutual fund company, has reported earnings of C$48.5 million, or 22.9 cents a share, for the second quarter of 1998, up 30.3% from C$37.2 million, or 17.6 cents a share, for the same quarter in 1997. The boost in profits that Investors Group achieved for the quarter has been attributed largely to the increase in sales for mutual funds and insurance premiums. For the first six months of 1998, earnings at Investors Group totalled to C$85.6 million, or 40.5 cents a share, up 28.1% compared to its earnings of C$66.8 million, or 31.6 cents a share, for 1997's first half.

Comment:

Posts earnings of C$48.5 mil for 2nd quarter of 1998, up 30.3% from C$37.2 mil for same quarter in 1997

Sales, profits & dividends, Investment Companies, Open-End Investment Funds, Investors Group Inc., Article

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Merger of TD, CT will create no.3 mutual fund firm

Article Abstract:

The proposed acquisition of Canada Trust by Toronto-Dominion Bank will create the third largest mutual fund in Canada. The combined fund assets of TD and Canada Trust would reach C$29.8 billion. Industry leader Investors Group Inc Winnipeg has C$38.5 billion in assets, while second- running Royal Bank has C$30.6 billion. The mutal fund arms of TD and Canada are currently ninth and tenth in ranking, respectively, with assets of C$16.6 billion for TD Asset Management Inc and C$13.2 billion for CT Investment Management Group Inc.

Acquisitions & mergers, Mutual Fund Mgmt Companies, Portfolio Management, Mutual funds, TD Asset Management Inc.

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