Man Investments Canada now Next Edge

Date: Thursday, June 12, 2014
Author: Investment Executive

Next Edge to rebrand the funds it manages

Man Group plc and Toronto-based Man Investments Canada Corp. (MICC) said Wednesday that after receiving all necessary approvals they have completed the previously announced transaction in respect of the spin out of MICC to the firm's management.

The transaction will allow Man Group plc to focus on its institutional business in Canada. In conjunction with the spin out of MICC to management, MICC has changed its name and will now conduct business in Canada as Next Edge Capital Corp.

Next Edge will maintain its focus on providing Canadian retail investors with access to new and innovative products, including a number of products offered by Man.

The renamed firm will continue to be led by the existing MICC senior management team, while affiliates of Man will remain as the investment manager of the underlying strategies to which select Canadian funds managed by Next Edge allocate. Next Edge will be conducting a rebranding of the funds which it manages to reflect the change of name of the manager.

"We are looking forward to our continued relationship with Next Edge as they look to expand our retail fund line-up in Canada. This transaction will enable Man to focus our resources on our growing institutional and pension business across Canada and the U.S." said Eric Burl, Chief Operating Officer for Man Group North America.

"We are excited about the opportunity to continue to build out our Canadian retail platform and expand the suite of Man products and investment strategies available through retail distributors here," said Toreigh Stuart, CEO of Next Edge.

Next Edge continues to support a number of the Canadian retail products offered by Man.