NexGen Financial Limited Partnership Announces December Sales and Assets
Under Management.

TORONTO, Jan. 4 /CNW/ - NexGen Financial Limited Partnership ("NexGen" or the "Partnership") today reported total mutual fund net new money in December 31, 2009 of $23 million compared to $23 million for November 30, 2009. Total assets under management were $506 million at December 31, 2009 compared to $485 million at November 30, 2009, up from $286 million at December 31, 2008.

"We have demonstrated that our Tax Managed Funds are adding value to Canadian portfolios," said Laurie Munro, President of NexGen. "NexGen is very well positioned to expand the sales of its innovative Fund solutions in 2010 to the over 30,000 advisors associated with the 75 firms with which NexGen now has distribution agreements."

    
    -------------------------------------------------------------------------
                                    December 31,         December 31,
    ASSET BREAKDOWN                     2009        %        2008        %
    -------------------------------------------------------------------------
    FUNDS
                    MUTUAL FUNDS    $475,461,393  93.9%  $244,103,282  85.4%
                CLOSED END FUNDS      30,737,766   6.1%    41,627,060  14.6%
                                                 ----------------------------
    AUM                             $506,199,159 100.0%  $285,730,342 100.0%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ASSET CATEGORY
                    MONEY MARKET     $45,393,613   9.0%   $87,028,845  30.5%
                    FIXED INCOME     266,089,734  52.6%    50,653,792  17.7%
                          EQUITY     158,700,680  31.3%   102,726,282  35.9%
                          GLOBAL      36,015,132   7.1%    45,321,423  15.9%
                                     ----------------------------------------
    AUM                             $506,199,159 100.0%  $285,730,342 100.0%
    -------------------------------------------------------------------------
    

"Management, our Board and supporting financial advisors have done much of the heavy lifting required to position NexGen as an emerging main stream fund company", said Jim Hunter, CEO of NexGen. "Management is excited by the prospects in 2010 for continued growth in AUM based on products under development and existing sales momentum of our innovative Fund solutions."

NexGen Financial Limited Partnership is one of Canada's fastest growing independent financial services firms and was founded to develop value added investment solutions for financial advisors and their clients. The firm is focused on the creation of innovative investment products and services that meet the needs of Canadians seeking more tax efficient investment opportunities and greater control over the tax treatment of their investments. Managed by strong investment professionals, NexGen's unique Registered and Tax-Managed Fund offerings are well positioned as attractive investment opportunities for Canadians looking to alleviate the tax costs associated with traditional investment solutions.

Cautionary Statement on Forward Looking Information

This press release may include forward looking statements within the meaning of securities laws. Forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from what is currently expected. Accordingly, readers should not place undue reliance on forward looking statements.

SOURCE NexGen Financial Limited Partnership

For further information: For further information: James L Hunter, CEO, (416) 775-3701, jhunter@nexgenfinancial.ca; Laurie Munro, President, (416) 775-3705, lmunro@nexgenfinancial.ca

Organization Profile

NexGen Financial Limited Partnership

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890