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The Bay Street sign is shown in the heart of the financial district as people walk by in Toronto.
The Bay Street sign is shown in the heart of the financial district as people walk by in Toronto.
(MARK BLINCH/MARK BLINCH/REUTERS)

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Crown Hill exiting investment fund management business

Crown Hill Capital Corp. is getting out of the business of managing investment funds, asking unitholders of its two main funds to vote on a proposal to transfer management to another company.

The decision comes 16 months after the company and chief executive officer Wayne Pushka faced Ontario Securities Commission allegations of improprieties over a 2009 deal to acquire the management rights for 13 Citadel investment funds that had over $1-billion of assets under management.