NEW LABOR-SPONSORED FUND LAUNCHES
By Adnews Staff
University Avenue Funds of Toronto has introduced a new labor-sponsored fund to the Ontario market. Known as the Business, Engineering, Science and Technology Discoveries Fund, it became available throughout Ontario the first week of January. Jeff Richmond, University's sales and marketing manager, told Adnews the fund is much like a mutual fund, except it is sponsored by an engineering labor union, carries tax incentives and invests in emerging, relatively unknown companies. Toronto-based Trinity Capital Corp. will act as advisor to the fund and has committed to investing its own capital in the venture. The B.E.S.T. fund will be promoted using inserts in an Ontario engineering magazine, brochures and co-op ads. The co-op ads have been prepared for brokers, who can run them in local markets. Ads will also run in The Globe and Mail and The Financial Post in February. University Avenue prepared the ads in-house.