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Rating:WSJ Wonders Whether an Ownership Change Might Affect Last Year's Chart-Topping Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, January 03, 2011

WSJ Wonders Whether an Ownership Change Might Affect Last Year's Chart-Topping Funds

News summary by MFWire's editors

Toronto-based DundeeWealth is making a big splash in the U.S. The firm, which entered the U.S. mutual fund market in the fall of 2009 with its Dynamic line of funds, has two of 2010's best-performing funds, writes Eleanor Laise in the Friday edition of the Wall Street Journal Fund Track column.

The Dynamic U.S. Growth Fund is the top performer among U.S. diversified stock funds in 2010 through December 29, according to Morningstar data. Meanwhile, the Dynamic Gold & Precious Metals is the best-performing mutual fund of any kind in 2010.

Laise wonders whether a deal announced in November -- the Bank of Nova Scotia is buying 82 percent of DundeeWealth that it doesn't already own -- might have an impact on the funds.

"The deal, expected to close in January, raises questions about the future of the funds—including whether they will be able to retain their star managers," Laise writes.

DundeeWealth CEO David Goodman, who will remain in his role post-deal, sees no problem with manager retention.  

Edited by: Hung Tran

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