UPFRONT
INTELLIGENCE CORPORATE ACQUIRER
TARGET
PRODUCTS COMMENTS
Brant Securities
Aston Hill
The Toronto-based independent brokerage will take control of Aston Hill’s securities distribution channel
Canadian Western Bank Group
Maxium Financial and Desante Financial
Post-acquisition, Maxium and healthcare arm Desante will be known by the collective name of CWB Maxium Financial
Great-West Lifeco Irish
Aviva Health Insurance Ireland
The major life insurer’s Ireland operation also will increase its ownership of Dublin-based GloHealth Financial Services to 100%
iA Financial
Groupe Financier Moreau
The Quebec City-based company will acquire the life insurance agency, which includes 130 representatives
Nasdaq
International Securities Exchange
The stock exchange will buy ISE, which operates three electronic option exchanges, from Deutsche Boerse AG
PI Financial
Wolverton Securities and Global Securities
After the two deals are finalized, PI will boast more than 200 financial advisors and 300 employees across Canada
Sun Life Financial Group
PT CIMB Sun Life
Sun Life will buy a 51% stake from its partner, Kuala Lumpurbased CIMB Group Holdings Berhad
TransCanada Corp.
Columbia Pipeline Group
TransCanada is working with JPMorgan to find $7 billion in assets to help finance the move
Aston Hill to merge several funds
Toronto’s Aston Hill Management has put forward plans to merge several of its products. Proposals to unitholders include the merger of the Aston Hill Global Growth and Income Fund with the Aston Hill Growth and Income Fund. Another merger would see the Aston Hill High Income Class Fund join together with the Aston Hill Global Growth and Income Class Fund and the Aston Hill Growth and Income Class Fund. By merging the products, Aston Hill hopes to drive down the costs of managing the funds. According to the company, there would be no tax consequences for existing unitholders.
Mackenzie removes hedging restriction
Sun Life expands in Asia
It may be based in Toronto, but Sun Life Financial has set its sights on success in the Asian market after completing a deal to take control of Jakarta-based PT CIMB Sun Life. As part of the deal, Sun Life will purchase a majority 51% stake in the company from Kuala Lumpur-based CIMB Group Holdings Berhad. Previously, Sun Life owned 49% of the firm. According to Kevin Strain, president of Sun Life Financial Asia, the region is a priority for the company. “This is an exciting opportunity to deepen and enhance our business in Indonesia,” he said.
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www.wealthprofessional.ca
In an effort to bring its US Mid-Cap Growth Class Fund in line with the rest of its product lineup, Mackenzie Financial Corporation has announced the removal of a hedging restriction on the fund. Mackenzie plans to remove restrictions on hedging foreign currency from the fund, which is also distributed by Laurentian Bank of Canada and Quadrus Investment Services. “Removing this restriction provides the portfolio manager of the fund with the flexibility to actively manage the foreign currency,” the firm said in a statement. The change went into effect around March 23.