Ultravest named as Fortune Financial's mystery partner
Article Abstract:
Ultravest Investment Counsellors Inc., a money manager headquartered in Markham, Ontario, is named the mystery merger partner of Fortune Financial Management Inc., which is among the largest mutual fund distributors in Canada. But according to sources, the agreement effected by the two firms would not result in something that was declared in the first week of June 1998 by David Singh, the founder of Fortune Financial. The sources added that Singh plans to form a new holding firm, called Destiny, which would act as the parent firm for Fortune Financial and Infinity Investment Counsel Ltd., a fund management firm.
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Names Ultravest Investment Counsellors Inc of Markham, Ontario as this co's mystery merger partner o
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Fortune Financial head plans merger
Article Abstract:
Fortune Financial Management Inc. is being set up for sale to a yet-unknown investment counselor by its founder, David Singh. The mutual fund distributor, which is one of the biggest in Canada, touts its extensive distribution network, which has 550 salespeople, as its main attraction. Fortune Financial managed C$7 billion in assets for clients when 1997 ended. Insiders reported that Singh is simply safeguarding the investment, which he has built up over a decade and which has been affected by recent controversy.
Comment:
Is being set up for sale to a yet-unknown investment counselor by its founder David Singh
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Mutual firm failure fund urged
Article Abstract:
A report by securities lawyer Stephen Erlichman urges the Canadian mutual fund industry to create contingency funds and a system of self regulation.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 2000
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