General Investing >> CEO Interviews >> May 10, 1999
JAMES F. O'DONNELL is the founder, Chairman and Chief Executive Officer
of one of Canada's fastest growing mutual fund companies, O'Donnell
Investment Management Corporation. Headquartered in Toronto, O'Donnell
Investment Management Corporation is the promoter, distributor and
manager of 14 public mutual funds offered by prospectus in Canada as The
O'Donnell Group of Funds. Toronto-based O'Donnell Group of Funds was
launched in December, 1995 and publicly listed on The Toronto and
Montreal Stock Exchanges in May, 1997. Its total assets under
administration, including institutional accounts, add up to more than
$1.7 billion. There are more than 200,000 unitholders invested in the
O'Donnell Group of Funds. Widely respected and well-known in the
investment industry as an innovator and industry expert, Mr. O'Donnell
is credited with developing and pioneering several key features used in
Canadian mutual funds today. These include: the back-end load fund,
where withdrawal fees rather than purchase fees are charged; mutual fund
limited partnerships, which are sold as tax-beneficial investments to
help finance commissions paid by mutual fund managers to salespeople;
the trailer commission, paid to the sales representative on an annual
basis for as long as the client remains invested in the specific
company's mutual fund products, to encourage ongoing support for the
Canadian investor. Prior to launching his own mutual fund company, Mr.
O'Donnell was President and one of the founding principals of Mackenzie
Financial Corporation. Mr. O'Donnell helped to build Mackenzie
Financial's asset base from approximately $8 million to a multi-billion-
dollar corporation during his 20 years with the company and by the time
he retired in May, 1993. Some of the noteworthy accomplishments include:
the company's move into the Canadian trust industry, with Mackenzie
Trust Company; and its expansion into the highly competitive U.S. mutual
fund industry through Mackenzie Investment Management Inc. Director and
Philanthropist, Mr. O'Donnell is a member of the Board of Trustees of
Molson Indy and has served as Director of Toronto's St. Michael's
Hospital as well as a Director of Midland Walwyn Capital, Inc. In his
spare time, Mr. O'Donnell dedicates himself, personally and financially,
to assisting Canadian athletic development and to supporting a variety
of charitable endeavors. He is committed to the Special Olympics and
created the Ontario Handicapped Skiing Program. He also initiated the
O'Donnell Challenge for Charity, as part of the Toronto Molson Indy
Fest. The Challenge supports 41 children's charities and rehabilitation
centers across Canada. To relax, Mr. O'Donnell enjoys fishing and
skiing. He and his family live in Toronto. His three daughters work at
O'Donnell, making it a truly family-run business. O'Donnell Investment
Management Corporation's common shares trade on The Toronto Stock
Exchange and the Montreal Stock Exchange under the symbol 'ODM'. Profile
history just to set the stage for the readers.
Mr. O'Donnell: Our small company was started three years ago in
