TORONTO, March 1 /CNW/ - Northwest Mutual Funds Inc. ("Northwest"), today
announced Beutel Goodman & Company Ltd. ("Beutel Goodman") of Toronto will
assume the sub-advisory duties of the Northwest Foreign Equity Fund effective
March 1, 2007. At the same time, Northwest announced the renaming of the Fund
as the "Northwest Global Equity Fund". This change will also be effective
"Our rigorous search process was driven by the best interests of our
unitholders and advisors, and led us to explore some of the best firms in the
world." said Michael Butler, President and COO of Northwest Mutual Funds Inc.
Northwest seeks to provide its investors with superior risk-managed
returns - better returns with less risk, and that commitment was the
fundamental consideration during the search. "We only considered portfolio
managers with exceptional track records of capital preservation and risk
management," said Butler. "That search led us into our own backyard. Beutel
Goodman is a true value management firm with a long history of creating
'northwest quadrant' performance - traits that fit perfectly with Northwest's
The Northwest Global Equity Fund will be the second Northwest mandate
assumed by Beutel Goodman. The investment firm has been managing the Northwest
Canadian Dividend Fund since January 2003.
Beutel Goodman is a value management firm founded in 1967 as a value
manager specializing in global equity, global balanced and Canadian income
mandates for both institutional and individual investors. Their fundamental
investment strategy is designed to identify and invest in companies that
generate free cash flow and forward looking value. Total assets under
administration are in excess of $15 billion.
The $200 million Fund will be co-managed by Gavin Ivory CFA and
Sarah Khoo CFA. Ivory has over 26 years of experience and Khoo 14 years
experience in the financial industry.
The Fund's global mandate will not change, however said Butler, "The
decision to change the name of the Fund to the Northwest Global Equity Fund is
simply a better reflection of the Fund's mandate."
The new relationship with Beutel Goodman does not end Northwest's
business relationship with the previous manager of the Fund, Foyston, Gordon
and Payne ("Foyston"). Said Butler, "We have confidence in Foyston and Sky
Investment Counsel Inc., and look forward to our continued partnership with
them through our Northwest EAFE Fund mandate."
With over $2.7 billion in assets under administration, Northwest is
Canada's premiere boutique mutual fund company, and one of the fastest growing
firms in the industry. Northwest is wholly owned by the Desjardins Group,
Canada's largest integrated financial cooperative group. Northwest has offices
in Toronto, Montreal and Vancouver. The Northwest Funds are distributed solely
through financial advisors and stock brokers.
For further information:
For further information: For interviews with Michael Butler please
contact: Paul Saunders, Marketing Director, Northwest Mutual Funds, (416)
594-6633 x 210, email@example.com