TORONTO, April 1 /CNW/ - GBC Asset Management Inc. (GBC) today announced
a change in the portfolio advisors for The GBC Canadian Bond Fund and The GBC
Money Market Fund and a reduction in the management fee for The GBC Canadian
The GBC Canadian Bond Fund
Effective on April 1, 2009, Canso Investment Counsel Ltd. (Canso), a
Canadian based institutional investment counsellor since 1997, will become the
portfolio advisor for The GBC Canadian Bond Fund. Canso manages $1.9 billion
in assets for Canadian investors The strategy of the Fund is to, after careful
analysis, buy securities when they are out of favour and priced cheaply
compared to their ongoing cash flows. Securities are sold when they become
overvalued and market prices appreciate beyond estimates of reasonable value.
The management fee for the Class A Units of the Fund is being reduced
from a maximum of 1% to a maximum of 0.75% of the net asset value of the Fund.
As a result of this reduction GBC will no longer offer reduced management fees
The GBC Money Market Fund
Effective on April 1, 2009, Pembroke Management Limited (Pembroke) will
become the portfolio advisor for The GBC Money Market Fund. Pembroke is an
investment counsellor located in Montreal and an affiliate of GBC. Pembroke is
also the portfolio advisor for The GBC Growth and Income Fund, The GBC
Canadian Growth Fund and The GBC North American Growth Fund Inc.
GBC is the manager of a select number of mutual and pooled funds to high
net-worth individuals and families. The firm was founded in 1988 and currently
has approximately $500 million under management.
For further information:
For further information: Ms. Merri L. Jones, GBC Asset Management Inc.,
(416) 366-2550, 1-800-668-7383