Sentry Investments Inc. is appointing a new lead manager to its new global dividend fund. Dana Love, former fund manager at Invesco Trimark Ltd., starts in the Toronto office Tuesday.
Mr. Love left Invesco Trimark Ltd. four months ago in March after several other portfolio managers also exited the mutual fund firm. In his previous position, Mr. Love oversaw the flagship Trimark Fund worth more than $2.4-billion.
Some industry watchers describe Mr. Love's style as conservative, which helped his numbers in 2011, even if he may have played it a little too safe in 2009.
Mr. Love marks Sentry's second recent hire from Invesco Trimark--they appointed a new associate portfolio manager from the company a few months ago, although he worked on a different team. Together the two will make up Sentry's fledgling global equity team.
Staying positive in the equity mutual fund space has been a challenge lately, and many firms have been struggling under net redemptions as uncertain markets continue to concern investors. (Sentry, however, is in positive terriory.)
When it comes to dividend funds in particular, recent numbers from EPFR Global looking at the U.S. (as reported by the Wall Street Journal) indicate that so far this year investors have dumped about $13.6-billion (U.S.) into them, even though American equity funds have seen $20.4-billion extracted overall.
Sentry also hired James Dutkiewicz, a bond fund manager, away from CI Financial Corp. back in May.