VANCOUVER, BC / ACCESSWIRE / July 18, 2018 / CADO Investment Fund Management Inc. ("CADO"), the manager of the Maple Leaf Short Duration 2017-II Flow-Through Limited Partnership and Maple Leaf Short Duration 2018 Flow-Through Limited Partnership (together, the "Partnerships"), announces that Jim Huang, principal of T.I.P. Wealth Manager Inc. ("TIP"), the portfolio manager of the Partnerships, has advised that he intends to retire from the portfolio management business effective as of July 31, 2018. Accordingly, effective as of July 31, 2018, TIP will no longer manage the investment portfolio of the Partnerships or future Maple Leaf flow-through funds. In addition, TIP will cease to be the portfolio manager for Maple Leaf Corporate Funds Ltd. (the "Fund"), Maple Leaf's prospectused mutual fund.
We wish to thank Jim for over 10 years of great leadership during which Maple Leaf has become a leading force in the Canadian flow through investment space. Today our funds are well positioned for a strong recovery in the resource sector. We wish Jim well in retirement.
CADO is very pleased to announce that it has engaged Backer Wealth Management Inc. ("Backer") to replace TIP as the portfolio manager for the Partnerships and the Fund. Craig Porter, founder, President and CEO of Backer, will be responsible for providing investment advisory services on behalf of in accordance with their existing investment objectives and strategies. Backer is a new portfolio management company, but its founder Craig Porter has 30 years of experience in the Canadian investment industry with a particular focus on resource stocks. From 1992 to 2005 he was with Altamira Management Limited (and its successor company Natcan Investment Management). While there, he rose from his role as an equity analyst to the role of portfolio manager, responsible for all of the firm's resource mandates (Altamira Precious and Strategic Metals, Altamira Resource and Altamira Energy funds), as well as being the sub-advisor to the Rhone 2004 and 2005 Flow-Through Limited Partnerships. In his last year at the firm, the Altamira Precious and Strategic Metals fund won the Precious Metals Equity Fund of the Year award at the Canadian Investment Awards (Morningstar).
From 2005 until 2017 he was employed as a Senior Portfolio Manager by Front Street Capital (and its successor company Logiq Asset Management), once again having a primary focus on the natural resource sector. While at Front Street Mr. Porter managed up to approximately one billion dollars in mandates, including being sub-advisor to CIBC for its natural resource funds (for eight years managed CIBC Resource, CIBC Energy, CIBC Precious Metals and Renaissance Global Resource funds). He also was the fund manager for Front Street's Flow-Through product offerings, managing over $900 million in capital for the Front Street LPs.
Over the years Mr. Porter has been a frequent guest on news stations such as BNN speaking on natural resource stocks and global commodities markets, and has been quoted in newspapers including the Globe and Mail, National Post, and Toronto Star.
Mr. Porter has a Bachelor of Arts Degree in Commerce and Economics, from the University of Toronto, as well as holding the Chartered Financial Analyst designation.
Mr. Porter will also replace Jim Huang on the boards of directors of Maple Leaf Short Duration 2017-II Flow-Through Management Corp. and Maple Leaf Short Duration 2018 Flow-Through Management Corp., the general partners of the Partnerships, also effective as of July 31, 2018.
CONTACT:
Hugh Cartwright, Chairman
CADO Investment Fund Management Inc.
Tel: 1-866-688-5750
Email: info@MapleLeafFunds.ca
SOURCE: Maple Leaf Funds
