Posted on 23/06/04
PHN's entrepreneurial spirit keeps its costs low
It's one of Canada's best-run mutual fund companies -- and one of the most difficult in which to invest. A princely $25,000 is required to open an account at Phillips Hager & North Investment Management Ltd. The Vancouver company does no advertising; the bulk of clients learn of the firm via word of mouth. The company pays no broker fees so most investors opt to buy direct. In the bull market '90s, the firm turned away new institutional clients.
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