Sentry Investments has abruptly severed ties with its Chief Investment Officer Dennis Mitchell. It did not provide a reason for parting ways with Mitchell, a popular guest on BNN’s call-in investing show, Market Call.
Sentry's President and Chief Operating Officer Philip Yuzpe tells BNN it did not disclose its reasons to cut ties with Mitchell "out of respect" for his privacy. Yuzpe, did say however, his departure has nothing to do with the mismanagement of funds.
"We can say, unequivocally, that the reasons for his departure had absolutely nothing to do with the management of the funds, nor are we concerned over the future management of the funds," Yuzpe said in an email.
Mitchell had agreed to appear on BNN's Business Day program on Tuesday afternoon, but cancelled his appearance.
The asset management firm announced late Monday that Sandy McIntyre is stepping back into the role, which he held from 2008 to 2012 until handing over the job to Mitchell.
"We are confident that we can deliver similar value for securityholders within our global fund line-up with Sandy as the lead," said Sentry's CEO Sean Driscoll in a statement.
Mitchell was a regular BNN guest, often co-hosting on The Street and providing commentary on how investors can position their portfolios during news events.
Mitchell was the leading promoter for Sentry's investment strategies and even managed the firm's social media accounts, like Twitter. Below is a promotional video of Mitchell talking about Sentry's "unique house style" of investing.
Sentry manages over $18 billion in assets on behalf of more than 500,000 Canadian investors.
-- With files from Rob Moysey