MD Funds Management hired MFC Global Investment Management to subadvise the MD Dividend Fund, a balanced fund with about C$1 billion (US$837 million) in client assets.
Alan Wicks, senior portfolio manager and head of MFC Global’s large-cap value equity team, and Terry Carr, managing director and head of Canadian fixed income, will be lead managers of the fund, said Jean-Francois Courville, president of MFC Global, in a telephone interview.
J. Craig Maddock, MD Funds’ assistant vice president-investment management, said his firm selected MFC Global following the retirement of Stephen Gerring, portfolio manager with CIBC Global Asset Management, who had overseen the fund for more than a decade.
MFC Global will oversee about 95% of the MD Dividend Fund portfolio, with another subadviser looking after the remaining 5%, he said.
