JovFunds Management - Changing lanes

Principal-protected notes and closed-end funds have suffered in Canada since the turmoil in financial markets last summer. But JovFunds Management, the asset management arm of Jovian Capital, is seeing success with exchange-traded funds and structured products linked to commodities. Emma Dunkley reports


Structured products issuance in the Canadian market has been sluggish since the start of 2008 and this pace is likely to continue amid a year of widespread economic uncertainties. Closed-end funds, for example, are on target to achieve approximately C$3.5 billion (US$3.46 billion) in new sales this year, which is around half of the C$7 billion reaped on average in previous years.

"The trend is definitely for a soft 2008 for structured products issuance, for several reasons," says Adam Felesky

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