United Financial announces portfolio management change

    TORONTO, March 5 /CNW/ - United Financial Corporation announced today
that AllianceBernstein L.P. has been appointed portfolio advisor to the US
Equity Value Pool and to a portion of the Institutional Managed US Equity
Pool, effective today.
    AllianceBernstein L.P. is one of the largest publicly traded asset
management firms in the world, with approximately US$717 billion in assets
under management at December 31, 2006. AllianceBernstein provides diversified
global investment management services that include both growth and value
equities, blend strategies and fixed-income services to institutional, high
net worth and retail clients worldwide.
    The United Financial pools will be served by an AllianceBernstein team
specializing in investing in large-capitalization U.S. equities using a value
    "We are pleased to have AllianceBernstein assume the role of portfolio
manager of our US Equity Value mandates," said Joseph Canavan, Chairman and
Chief Executive Officer of United Financial. "AllianceBernstein has posted
strong performance as a value manager with a solid team of analysts and
portfolio managers who have demonstrated first-rate risk control disciplines."
    Christopher Nikolich, Senior Vice President of AllianceBernstein, is lead
portfolio manager. He has been with AllianceBernstein for 13 years and has 15
years of industry experience. He holds an MBA in finance and international
business from New York University and a BA in finance from Rider University in
New York. Mr. Nikolich leads a team of six members with an average tenure with
AllianceBernstein of 12 years. The team also benefits from research conducted
by the firm's other equity and quantitative analysis groups.
    AllianceBernstein's strong value orientation is demonstrated in its
high-quality fundamental stock research combined with quantitative tools that
lead to superior stock selection. Its approach draws the majority of portfolio
holdings from the Russell 1000 Value Index, although the team does not limit
portfolio holdings to this universe of stocks and will select attractive
investment opportunities from other parts of the equity market.
    Under the direction of AllianceBernstein, the US Equity Value Pool and
the value portion of the Institutional Managed US Equity Pool will maintain
their focus on large caps but are expected to have less emphasis on "mega-cap"
    United Financial selected AllianceBernstein to replace Deutsche
Investment Management Americas Inc. following the decision by former lead
portfolio manager Tom Sassi to retire from Deutsche.
    United Financial has an established and successful relationship with
AllianceBernstein, which is portfolio advisor to the International Equity
Diversified Pool and co-portfolio advisor to the International Equity Value
    United Financial Corporation is a Canadian investment management and
wealth planning firm with approximately $10.1 billion in assets under
management as of February 28, 2007. It provides customized managed portfolio
solutions for individuals, families and businesses through the Artisan
Portfolios, Institutional Managed Portfolios, Optima Strategy, and Private
Client Managed Portfolios programs. United Financial is on the Web at
    United Financial is controlled by CI Financial Income Fund (TSX: CIX.UN),
an independent, Canadian-owned wealth management firm with approximately
$83.4 billion in fee-earning assets as of February 28, 2007. CI Financial
offers a broad range of investment products and services, including an
industry-leading selection of investment funds. CI is on the Web at

For further information:

For further information: Murray Oxby, Director, Communications, (416)

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