Pathway Asset Management

Pathway Asset Management
MineralFields Group

MineralFields Group

December 28, 2006 20:26 ET

Pathway Asset Management 'Including MineralFields & EnergyFields' Changes Portfolio Manager Arrangement

TORONTO, ONTARIO--(CCNMatthews - Dec. 28, 2006) - Pathway Asset Management, MineralFields Group and EnergyFields Group announce that effective today, Wickham Investment Counsel Inc. ("Wickham") has been replaced as portfolio manager by newly-registered portfolio management company Pathway Investment Counsel Inc. ("Pathway IC"). The individual portfolio manager - Paget Warner - who was managing all our accounts at Wickham has joined Pathway IC. Pathway IC President Joe C. Dwek, C.A. explains the decision: "Most flow-through organizations have their own in-house investment counsel / portfolio manager firm, so this was a natural evolution for us. In addition, our international strategic partners have expressed a preference for an in-house IC/PM. Paget Warner will continue as the individual portfolio manager on our accounts, so we achieve evolution and continuity at the same time. We would also like to thank Wickham for their excellent management of our accounts over the last 2 years plus." Pathway IC will start with assets under management of approximately $120 million.

Pathway's 2005 limited partnership flow-through prospectus offering was the top-performing flow-through limited partnership of 2005. It was dissolved on May 8, 2006, 20 months ahead of schedule, and rolled over into an RRSP-eligible mutual fund corporation (MineralFields/EnergyFields Multi Series Fund Inc.) to provide investors with early liquidity on a tax-deferred basis. At early dissolution, each $10 unit was worth $19.90, representing a pre-tax return of 99 %, and an after-tax return of 325.98 % before factoring in capital gains tax, and 227.13 % when capital gains tax is factored in.

Pathway had two prospectus offerings in 2006, and they were both oversubscribed. Together with MineralFields Group and EnergyFields Group, Pathway Asset Management raised over $105 million in 2006, and looks forward in 2007 to continued strong and growing investor demand, as well as exceptional investment returns, combined with the launch of exciting new products beyond the resource sector.

Information on Pathway Asset Management, MineralFields Group and EnergyFields Group, respectively can be obtained by visiting the websites www.pathwayam.com, www.mineralfields.com and www.energyfields.com.

Contact Information

  • Pathway Asset Management, MineralFields Group and
    EnergyFields Group
    Imtiaz Hashmani, CFO
    (416) 665-9339 ext 221 or Toll-Free 1-800-339-9169 ext 221
    (416) 665-4772 (FAX)
    Email: jd@pathwayam.com