DundeeWealth founder Ned Goodman will be remembered for his wit, his leadership and his mentorship.

The storied businessman and philanthropist who established financial services company DundeeWealth – which was acquired by Scotiabank more than a decade ago – passed away on August 7 at the age of 85.

DundeeWealth’s Dynamic Funds, first established as a small investment club in 1957 in Montreal, has grown into one of Canada’s most prominent asset managers and continues to be grounded in the strong investing principles Goodman fostered more than half a century ago.

“Ned was a force that shaped the Canadian investment management landscape and we remain forever grateful to be a part of his story,” says Mark Brisley, Managing Director, Dynamic Funds.

Goodman was a “great leader and business builder,” said Oscar Belaiche, Senior Vice President and Portfolio Manager at Dynamic Funds.

“His love for the business was reflected in everything he did and we were all the wiser for the guidance and support he provided.”

Noah Blackstein, Vice President and Senior Portfolio Manager at Dynamic Funds, says Goodman “mentored me with his vast wealth of knowledge and investment experience.”

“His support, especially during difficult markets, allowed me to become the investor I am today,” said Blackstein. Ned’s influence on the investment community in Canada will live on forever.”

Goodman received many accolades during his decades-long career, including being appointed to the Order of Canada in 2016 “for his contributions to Canada’s investment industry and for his philanthropic support for higher education, culture and health care.”

Goodman, who in 1991 founded Dundee Corp., an active investor focused on mining, was also inducted into the Mining Hall of Fame in 2012.

“Ned Goodman has made transformative and enduring contributions to Canada’s minerals industry and capital markets as a company-builder, merchant banker and investment advisor during a dynamic career spanning almost half a century,”the Mining Hall of Fame said about his induction.

Goodman established DundeeWealth in 1998, and Scotiabank bought an 18% minority stake in 2007. Scotiabank acquired the remaining shares of DundeeWealth in 2011. Dynamic Funds was Dundee’s most prominent brand.


Ned was a force that shaped the Canadian investment management landscape and we remain forever grateful to be a part of his story.

Mark Brisley, Managing Director, Dynamic Funds

Later in life, Goodman focused on philanthropy, including support of Brock University in St. Catharines, Ontario. Goodman served as the university’s Chancellor from 2007 to 2015, and in 2012 Brock’s business faculty was renamed as the Goodman School of Business.

David Fingold, Dynamic Funds Vice President and Senior Portfolio Manager, recalls one of the key business principles he learned directly from Goodman: “Find opportunities and use optimistic assumptions to value them.”

A quote he was well-known for and lived by was: “I am an optimist because I never met a rich pessimist. We try to avoid the things that make us pessimistic and focus on those things that make us optimistic.”

“That doctrine defined his discipline,” said Fingold.

The team also learned from Goodman the value of fundamental research, he adds.

“Ned was insistent that we travel to meet management teams on their home turf, tour their facilities, and learn what made their companies great businesses,” he said.

Another mission statement of Goodman’s was: “Don’t be the index, beat the index.” He also taught the team to construct concentrated portfolios and ignore benchmark weights, Fingold added.

Goodman was always happy to share his knowledge and experience, said Belaiche.

“I cannot understate the huge influence he had on my career,” he said. “Entering the investment industry, more than 25 years ago, with little experience Ned took a chance on me and said if I have the passion for this business then I’ll last. He was right. He was a great mentor not only to myself, but to many members of the investment team.”

Goodman leaves behind his wife of nearly 62 years, Anita Goodman, four sons and their daughters-in-law, 16 grandchildren and two great-grandchildren.