|By Marketwired .||
|February 26, 2014 12:42 PM EST||
OTTAWA, ONTARIO -- (Marketwired) -- 02/26/14 -- MD Private Investment Counsel (MDPIC), the discretionary investment management arm of MD Physician Services Inc. (MD), remains the largest non-bank-owned private investment counsel firm in Canada according to Investor Economics Fee-Based Report, Summer 2013 Edition.
MDPIC outpaced its competitors with growth of $1.28 billion over six months, the largest increase among all private investment counsel firms in Canada.
MDPIC grew by 22% over twelve months for the period ending June 30, 2013, while the average growth rate over the same period for Canada's top five firms was 14.5%. Additionally, while the average growth rate for six months for the top five firms was 5.3%, MDPIC grew by 10.7%. Measured by assets under management, MDPIC is one of the top 10 private investment counsel firms in Canada.
"The fact that MDPIC continues to report strong growth is, in part, a result of the introduction of two innovative alternative investment pooled funds and the increased popularity of our PIC offering through MD Apertura," said Brian Peters, President and CEO, MD Physician Services Inc. "These new offers-the kind of sophisticated advances our physician clients have come to expect- are designed to help drive solid long-term financial success for our clients and their families."
MD Apertura is MD's secure web-based virtual channel that allows clients to communicate with their MD Portfolio Manager and MD Advisor when and where it is most convenient for them.
The results are published in the Summer 2013 Fee-Based Report from Canadian financial services research and consulting firm Investor Economics. These results rank the size and growth of private investment counsel firms, excluding deposit-takers' assets managed for personal trusts.
About MD Private Investment Counsel
MD Private Investment Counsel is the largest private investment counsel firm in Canada. We manage more than $15 billion in assets on behalf of our clients.
Visit MD's YouTube channel to watch MD President and CEO Brian Peters explain what MDPIC is about.
About MD Physician Services
MD Physician Services, with more than $35 billion in assets under administration, is a wholly-owned subsidiary of the Canadian Medical Association. MD is dedicated to serving physicians and their families. MD Physician Services provides financial products and services, the MD family of mutual funds, private investment counselling services and practice management services through the MD Group of companies. For a detailed list of these companies, visit mdm.cma.ca.