MD Management‚s rapid growth continues

The amount of money under administration at MD Management is expected to surpass the $15-billion mark by the end of August. The Investment Funds Institute of Canada says MD Management is now the country‚s 15th-largest mutual fund company. (It ranks 11th in size if all the funds it administers are included). MD Management Vice-President Ron Bannerman says the 31% growth in funds under administration since Dec. 31, 1998, places MD Management in the top quartile of growth among Canada‚s 70 mutual fund companies. The company, the largest of its type in the world, passed the $1-billion mark in assets under administration in 1985. This latest fund total means that the company has been growing by an average of almost $1 billion a year since then.