TORONTO, May 15, 2013 /CNW/ - Dynamic Funds, managed by GCIC Ltd., announces changes to the portfolio management of certain key funds and the addition of a new Chief Investment Strategist.
Myles Zyblock appointed Chief Investment Strategist, Dynamic Funds
Effective today, Myles Zyblock, CFA, becomes Dynamic Funds' new Chief Investment Strategist, assuming the role from Rohit Sehgal, CFA, whose emphasis will move away from mutual funds toward the management of alternative assets.
Mr. Zyblock is one of North America's most recognized and well followed market strategists. He will be developing investment strategies in support of the firm's portfolio management team as well as delivering timely market analysis and commentary across various asset classes and geographies in support of the growing investment interests of Dynamic Funds' clients.
On his joining the firm, Mr. Zyblock commented "I am excited to become part of the Dynamic Funds family given the innovative range of its investment products and its deep pool of talented investment managers. I look forward to the opportunity of working closely with the investment management team and sharing macro and asset allocation views with our clients."
Mr. Zyblock has over 17 years of investment strategy experience and joins Dynamic Funds from a large Canadian financial institution.
Portfolio Manager Changes
As he steps away from his role as Chief Investment Strategist and transitions his mutual fund mandates into the hands of other portfolio managers, Rohit Sehgal, CFA, Vice President and Portfolio Manager, will focus more closely on the management of existing alternative mandates. He will continue to be supported on his alternative mandates by Vishal Patel, CFA, Portfolio Manager, who has worked closely with Mr. Sehgal since 2005. Mr. Sehgal will also explore potential opportunities in the alternative asset sector that may have a role to play in meeting a broader range of investor interests in the future. With more than 40 years in the investment management business, Mr. Sehgal has garnered numerous industry accolades with a reputation of innovation in new markets and asset classes.
Alexander Lane, CFA, Vice President and Portfolio Manager, who has worked with Mr. Sehgal for many years, will be named co-portfolio manager on Dynamic Power Canadian Growth Fund and Class and Dynamic Power Balanced Fund and Class (collectively the "Funds"). This will be effective immediately and transition fully on September 1, 2013, when he will become lead portfolio manager of the Funds, taking over from Rohit Sehgal. Mr. Lane, a multiple award winning growth manager, joined the firm in 2000 and is also lead portfolio manager of Dynamic Power Managed Growth Class, Dynamic Power Global Navigator Class and Dynamic Power Small Cap Fund.
Working with Mr. Lane with respect to U.S. equities in the Funds will be multiple award winning Vice President and Portfolio Manager Noah Blackstein, CFA, who joined the firm in 1997 and is today responsible for management of U.S. and global growth portfolios for Dynamic. In regard to the manner in which the announced changes will impact the Funds, they will begin to reflect a strategic allocation of Dynamic Power American Growth Fund or Class, managed by Noah Blackstein.
Effective September 1, 2013, Chuk Wong, CFA, Vice President and Portfolio Manager, will assume lead portfolio management responsibilities for Dynamic Emerging Markets Class, which he has co-managed with Rohit Sehgal since inception. Mr. Wong is an award winning portfolio manager with over 24 years of investment experience.
Effective September 1, 2013, Yassen Dimitrov, CFA, Portfolio Manager, will also assume lead portfolio manager responsibilities for Dynamic Financial Services Fund, which he has co-managed with Rohit Sehgal since July 2010. Mr. Dimitrov has worked closely with Mr. Sehgal for 5 years and has over 12 years of experience covering Canadian and global financial services companies.
"These changes strengthen our roster of investment talent so that our funds are well positioned for the future. At the same time, they reflect Mr. Sehgal's desire to focus his considerable expertise on alternative assets, an investment sector we have yet to fully explore. With over 40 years of experience, Rohit is one of the true veterans of the investment management industry and remains a cornerstone of Dynamic's independent, advice driven philosophy," said Jordy Chilcott, President & Chief Executive Officer, Dynamic Funds. "Looking forward, the addition of Mr. Zyblock and the new responsibilities for Alexander Lane, Noah Blackstein, Chuk Wong, and Yassen Dimitrov will all contribute to the depth and breadth of our investment management capabilities. Most importantly, we are confident that these moves will enhance our ability to deliver value to our clients in an investing environment where advice matters." The investment objectives and investment strategies of the impacted funds remain unchanged.
About GCIC Ltd.
GCIC Ltd. is a subsidiary of DundeeWealth Inc. and the manager of the Dynamic Funds and the Marquis Investment Program. GCIC Ltd. offers a wide range of wealth management solutions through financial advisors. These include the mutual funds and hedge funds of Dynamic Funds, the portfolio solutions of the Marquis Investment Program and the high net worth investment counsel of DundeeWealth Investment Counsel. DundeeWealth Inc. is a wholly-owned subsidiary of Scotiabank.
® Dynamic Funds is a registered trademark of its owner, used under license.
SOURCE: GCIC Ltd.
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