Oakville-based mutual fund management company Pro-Financial is looking at buyout bids or partnership offers from other Canadian money managers to help grow its business.
In a statement, the company said it’s considering proposals that will help the firm expand its index fund lineup, and result in “greater organizational bench strength, improved back office services for the dealer and advisor community as well as reduced fees for investors in its funds.”
Index funds are mutual funds that replicate the movement of a a financial market like the TSX or Dow index. While popular when markets are rising, investors can lose their shirts in a bear market when stocks fall.
Pro-Financial CEO Stuart McKinnon said the company has seen “tremendous growth and demand” for its enhanced index products over the last six years.
“To carry out our vision we plan on aligning our mutual fund business with an established company that brings support and economies to the Pro-Index fund family,” McKinnon said Wednesday.
“We are excited by the prospects ahead of us and are committed to providing quality investment solutions to our clients.”
Oakville’s Pro-Financial offers nine index funds and guaranteed funds, a kind of segregated fund that protects the original capital investment.
The company is located in Oakville in the Old Abbey Building on the Glen Abbey Golf Course on Dorval Drive.