Canadian Medical Assocation's MD Management Ltd., Ottawa, is considering a search for mutual fund firms to offer their mutual funds to CMA members, said Ron Bannerman, vice president at MD Management. MD Management now offers 13 mutual funds that it sponsors, totaling C$7 billion (U.S. $5.1 billion), to CMA members.
MD is studying whether to expand its investment offerings by forming alliances with mutual fund companies. No decision has been made on the number of funds or mutual fund companies. Brockhouse & Cooper is assisting in the study. MD Management may make a decision by year end.
International and global equity mutual funds will be ranked against their peers in a rating system Morningstar Inc. will announce next week. Until now, international funds have been compared against the whole universe of equity funds, and money managers have long argued for a separate rating class for international funds. Morningstar spokesman Michael Van Dam would not release information about the criteria used for classifying a mutual fund as international.
Changes to the international fund ratings are part of larger changes Morningstar will be making, said Mr. Van Dam, who would not provide further details.