Innovator and Visionary launched the American Growth Fund (AGF) in 1957
TORONTO, April 14 /CNW/ - AGF Management Limited today sadly announced
the passing of its co-founder and Honorary Chairman C. Warren Goldring at the
age of 81 earlier today. A founding father of the Canadian mutual fund
industry, he was a visionary who saw mutual funds as a way for all Canadians
to build wealth and achieve their dreams and aspirations.
"Warren was a great father, friend and colleague whose mentorship in
business and civic leadership had a profound impact on me and everyone he
touched," said Blake C. Goldring, Chairman and CEO of AGF Management Limited.
"His legacy will live on in the enduring commitment we have at AGF to helping
Canadian investors succeed."
Although Warren had not been directly involved in the operations of AGF
for more than a decade, Blake noted that "the strong and lasting traditions of
innovation and excellence Warren established continue to inspire all of us at
AGF to build on the great work he first started in 1957."
In 1957, Warren took an innovative and solitary bright idea and launched
a mutual fund called the American Growth Fund (AGF). He was a true visionary -
a pioneer who had always been ahead of his time and whose vision forever
changed the face of investing in Canada. Together with his business partner,
Allan Manford, they launched the first U.S. equity fund for Canadian
investors. This revolutionary idea became the foundation for over 50 years of
providing Canadians with innovative investment solutions across the wealth
Today, AGF is one of the largest independent investment management firms
in the country serving over one million investors with offices across Canada
and subsidiaries around the world. Over the years, AGF has established itself
as an organization of innovation and industry firsts. For example, AGF
introduced Canadians to the first Chinese equity fund - AGF China Focus Class
and was the first to introduce a fee-based wrap program, among many other
Bob Farquharson, AGF Vice-Chairman and Portfolio Manager, recalls,
"Warren gave me my start in this industry and his mentorship played an
important role in the success I've enjoyed in my over 40-year career with the
firm. I will miss Warren for his passion for the Canadian mutual fund industry
and for his enduring friendship."
Warren's contributions within the industry went well beyond AGF. He
played an instrumental role in shaping the investment management industry and
helping bring about greater transparency and accountability. In the 1960s, he
served on the Attorney General's Committee on Securities Legislation, which
paved the way for securities regulations in place today. He also served as
President of The Investment Funds Institute of Canada (IFIC) and authored two
books on investing.
Over the years, his vision, his business leadership and his distinguished
career were recognized with various awards and citations. In 1998, he was
honoured with the Canadian Investment Awards Career Achievement Award for his
pioneering and lifelong contributions to the industry. In 2002 he was named
Ontario Entrepreneur of the Year by Ernst & Young and received the Golden
Jubilee Medal of Queen Elizabeth II. In 2003, he was also awarded an Honorary
Doctorate of Laws from the University of Toronto.
"While Warren was proud of his accomplishments and contributions to the
industry, he shied away from the spotlight and was guided by strong core
values of hard work, integrity, generosity and service," added Blake. "He
believed that with prosperity came a sense of responsibility and an obligation
to give back to the community."
Warren balanced his professional accomplishments with a deep and abiding
commitment to civic leadership and community service, as demonstrated by his
many and varied philanthropic efforts over the decades. His passion for
education and creating goodwill in the community led to his strong involvement
with and support of organizations such as the University of Toronto,
WWF-Canada, the United Way and Operation Dialogue, among others. He was also a
long-standing supporter of the Canada Institute at the Woodrow Wilson Center
in Washington, The C. Warren Goldring Annual Lecture on Canada-U.S. Relations
and a member of the board of governors, Council for Canadian Unity. In 1991,
Warren received the esteemed Arbor Award, the University of Toronto's
recognition for outstanding volunteer contributions to the university.
Warren is survived by his wife of 55 years, Barbara, his sons Blake and
Bryce and daughters Judy and Jane, as well as 11 grandchildren.
About AGF Management Limited
AGF Management Limited is one of Canada's premier investment management
companies with offices across Canada and subsidiaries around the world. AGF's
products and services include a diversified family of award-winning mutual
funds, AGF Elements portfolios, the Harmony asset management program, AGF
Asset Management Group services for institutional and high-net-worth clients,
as well as AGF Trust GICs, loans and mortgages. With approximately $34.5
billion in total assets under management, AGF serves more than one million
investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
For further information:
For further information: Lucy Becker, Vice-President, Corporate
Communications, (416) 865-4284, Lucy.Becker@AGF.com