MD Physician Services Inc. announces changes to the investment advisors for
MD Growth Investments Limited, and an investment advisor addition for several
other MD mutual funds
OTTAWA, Oct. 26 /CNW/ - The Board of Directors of MD Physician Services Inc. ("MD") today announced changes to the management of the MD Growth Investments Limited (MD Growth Fund). The company also announced an enhancement to the fund with the launch of a new currency risk management service offering.
As part of the changes to MD Growth Fund, MD has appointed the following investment co-advisors: AGF Investments Inc., and Mackenzie Financial Corporation, Cundill Investment Team and CIBC Global Asset Management. They will join incumbent advisor Walter Scott & Partners Limited whose mandate has been expanded.
"The appointment of the new co-advisors, who are considered among the best global money managers, is in line with MD Physician Services' objective to provide our clients with innovative investment vehicles to achieve their financial goals," says Craig Maddock, assistant vice president, investment management and strategy, with MD Physician Services.
Coincident with the changes to MD Growth Fund, MD also launched a new currency risk management strategy that will enhance returns and reduce risk associated with currency exchange rate fluctuation. MD Physician Services chose CIBC Global Asset Management, a wholly owned subsidiary of CIBC, to manage the new currency management strategy following a thorough analysis and rigorous market search.
"We are constantly looking for ways to enhance our global investment strategy for Canadian physicians and their families. The addition of the currency risk management strategy is another example of our commitment to product innovation that will benefit our clients," adds Craig Maddock.
CIBC Global Asset Management Inc. has also been appointed as an additional advisor to manage foreign currency exposure and cash reserves of the following MD investment solutions: MD Balanced Fund, MD Equity Fund, MD American Value Fund, MD American Growth Fund, MD International Value Fund, MD International Growth Fund, MD Growth Investments Limited, MDPIM US Equity Pool, MDPIM International Equity Pool.
About MD Physician Services Inc.
MD Physician Services Inc., with assets under administration of $27 billion, as of October 8, 2010, is dedicated to serving the financial and practice needs of its physician and family member clients through a comprehensive offering of products and services. MD Physician Services Inc. is wholly owned by CMA Holdings (2009) Incorporated. More information can be found at md.cma.ca.
About MD Growth Fund
MD Growth Fund is one of the oldest global mutual funds in Canada and has provided value to countless Canadian physicians for more than 40 years.
For further information: Siobhaun Williams, Manager, [email protected], 1-800-663-7336, ext. 4562
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