Invesco Trimark simplifies Canadian fund lineup

Veteran portfolio manager Ian Hardacre takes on lead role for Trimark Canadian First Class

TORONTO, May 26, 2011 /CNW/ - Invesco Trimark announced that Trimark Canadian First Class will be renamed Trimark Canadian Class and, effective today, will be managed by Ian Hardacre (Head of Canadian Equities for Trimark), Jason Whiting and Alan Mannik.

The Fund will be patterned after the flagship Trimark Canadian Fund, which Mr. Hardacre has managed since 1999. The change serves to simplify the lineup of Trimark Canadian equity funds and allows investors to gain access to the Trimark Canadian Fund mandate within a mutual fund corporation that offers enhanced opportunities for tax efficiency.

"By making this change, we've streamlined our Trimark Canadian equity fund offerings," said Peter Intraligi, Invesco Trimark's President and Chief Operating Officer. "As a result, we're pleased to bring the investment expertise of Ian and his team to this newly patterned corporate class fund. Ian has provided strong leadership on Trimark Canadian Fund for over a decade, contributing to the Fund's recent top-quartile performance and attractive long-term track record since its launch in 1981."

While the investment objectives for Trimark Canadian Class will remain the same, the portfolio holdings and investment strategies will change to match those of Trimark Canadian Fund. A prospectus amendment is required. The name change from Trimark Canadian First Class to Trimark Canadian Class will be effective July 29, 2011.

The previous lead manager, Scott Margach, is no longer with the company. Invesco Trimark wishes him the best in his future endeavours.

About the portfolio management team of Trimark Canadian Class

Ian Hardacre is the Head of Canadian Equities for Trimark, lead portfolio manager for Trimark Canadian Fund/Class and Trimark Select Balanced Fund, and co-manager for Trimark North American Endeavour Class and Invesco Core Canadian Equity Class.

He began his investment career in 1991 as an account manager in the commercial banking division of the Hongkong Bank of Canada. He has also worked as a manager in corporate credit at The Bank of Nova Scotia. Prior to joining Invesco Trimark in 1997, he was an assistant portfolio manager at the Ontario Teachers' Pension Plan Board.

Mr. Hardacre earned an MBA and a B.Comm. from McMaster University, and he holds the Chartered Financial Analyst designation.

Jason Whiting is the lead manager for Trimark North American Endeavour Class and Trimark Canadian Small Companies Fund, and co-manager for Trimark Canadian Fund/Class, Trimark Select Balanced Fund and Invesco Core Canadian Equity Class.

He began his investment career in 2000. Prior to joining the company, he was a research analyst supporting the Canadian and global equity teams at Laketon Investment Management.

Mr. Whiting earned a BBA (Hons.) from Wilfrid Laurier University, and he holds the Chartered Financial Analyst designation.

Alan Mannik is the co-manager for Trimark Canadian Fund/Class, Trimark Select Balanced Fund, Trimark North American Endeavour Class and Invesco Core Canadian Equity Class.

He began his investment career in 2003 at Scotia Merchant Capital, where he worked as a private equity associate. He joined Invesco Trimark in 2007 as an investment analyst and became a portfolio manager in 2010.

Mr. Mannik earned HBA and MBA degrees from the Richard Ivey School of Business at the University of Western Ontario. He also holds the Chartered Financial Analyst designation.

Performance of Trimark Canadian Fund, Series SC as at April 30, 2011: 1-yr, 16.74%; 2-yr, 21.92%; 3-yr, 5.53%; 5-yr, 2.70%; 10-year, 5.15%; since inception (September 1981), 10.12%.

Quartile ranking of Trimark Canadian Fund, Series SC as at April 30, 2011: 1-yr, 1st quartile; 3-yr, 1st quartile; 5-yr, 2nd quartile; 10-yr, 2nd quartile. Quartile rankings compare the Fund to other funds in the Canadian Investment Funds Standards Committee's Canadian Focused Equity category. Source: Morningstar Canada.

Commissions, trailing commissions, management fees and expenses may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing. Copies are available from your advisor or Invesco Trimark Ltd.

Invesco Trimark Ltd. is one of Canada's largest investment management companies. A subsidiary of Invesco Ltd., Invesco Trimark offers a diversified suite of investment solutions to institutions, organizations, companies and individual investors across Canada and around the world. Invesco is a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high-net-worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.

Invesco and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. Trimark and all associated trademarks are trademarks of Invesco Trimark Ltd.

SOURCE Invesco Trimark Ltd.

For further information:

Contact:      Stephen Lee
      AVP, Communications
      Tel: 416.324.7668
                    stephen.lee@invescotrimark.com
       
      Aysha Mawani
      Vice President, Corporate Affairs
      Tel: 647.338.2947
                    aysha.mawani@invescotrimark.com

 

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