MutualFundWire.com: Dundee To Spin Off Subsidiary
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Thursday, June 17, 1999

Dundee To Spin Off Subsidiary


Dundee Bancorp is planning to spin off a new subsidiary, Dundee Wealth Management, in an initial public offering by fall 1999.

Toronto-based Dundee Bancorp will own an 84 per cent stake in the new company whose businesses will include Dundee Mutual Funds; Dundee Securities Inc., its brokerage arm; and Private Investors Management, its financial planning arm.

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    • The new company will be created once a deal to buy the assets of Fortune Financial Management Inc. and affiliated fund company Infinity Funds Management closes, expected in mid-July, said Ned Goodman, Dundee Bancorp's chief executive. He also added that the new subsidiary would probably be looking into the acquisition of other mutual fund dealers in the near future.


    Printed from: MFWire.com/story.asp?s=24282

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