Canada Funds Launched in Europe to Exploit Untapped Potential

Tom Burroughes

17 April 2008

The Canadian wealth management firm DundeeWealth is rolling out a suite of Luxembourg-domiciled funds with a strong Canadian investment theme, aiming to cash in on what its executives say is the still-underestimated potential of the north American country’s economy. DundeeWealth, via its European investment subsidiary, DF Investments, is making six funds available in the form of the widely-used European fund wrapper model, Société d’Investissement à Capital Variable, or SICAV. The funds are known as: Dynamic Power Canadian Growth; Dynamic Focus + Resource Fund; Dynamic Precious Metals Fund; Dynamic Power American Growth Fund; Dynamic Global Dividend Value Fund, and Dynamic Global Discovery Fund. Most of the funds have a strong Canadian equity theme or play to the strength of Canada’s commodity markets, DundeeWealth said. Canadian-themed funds are still a relatively unusual and niche part of the European market for investment funds, Bob Torkelund, managing director, DF Investments, told WealthBriefing. Mr Torkelund is to head up the Luxembourg office, which opened this week. The funds will be open to retail investors via financial advisors, private banks, retail banks and other financial intermediaries. Mr Torkeland says DF Investments expects to make available a Canadian-themed hedge fund to European clients in due course.