– DundeeWealth (TSX: DW) is one of the largest wealth managers in Canada, with more than 60 mutual funds. The Toronto-based firm will expand its client base into North America through its US division, DundeeWealth US. Dundee will begin with six new funds and expects to add more. The new funds include Dynamic Infrastructure (DWGIX), Dynamic Gold & Precious Metals (DWGOX), Dynamic U.S. Growth (DWUGX), Dynamic Discovery (DWGDX), Dynamic Contrarian Advantage (DWGVX), and Dynamic Energy Income (DWEIX).

– Milwaukee-based Direxion provides leveraged-index and other alternative-class mutual fund products. The firm filed registration papers with the Securities and Exchange Commission (SEC) in the hopes of launching a new fund, IPOX Global Long/Short Strategy. As the economy recovers, the market for initial public offerings (IPOs) is likely to revive. This fund will allow individual investors to profit from inefficiencies in the IPO market and will take positions on both sides of the trade: The fund will go long as shareholders take advantage of IPO euphoria, and then go short once shares become overvalued.

– Merk Investments’ three currency mutual funds have reached a significant milestone. After just four years in existence, the funds have accumulated $500 million in assets under management. Assets have grown every year since inception in 2005, even during 2008, when assets climbed 24 percent. All three funds aim to meet demand for currency diversification. Merk Hard Currency (MERKX) benefits from a weakening dollar by investing in currencies from countries that adhere to sound monetary policies. Merk Asian Currency (MEAFX) bets against the dollar by investing in Asian currencies. And Merk Absolute Return Currency (MABFX) aims to profit from the US dollar’s movement in both directions.

– The final investing frontier is beginning to open up and, as usual, mutual funds are leading the way. Africa has drawn investor interest for years but, with the exception of South Africa, these markets have been a tough nut for retail investors to crack. That may soon change, though. Recently formed Nile Capital Management has filed with the SEC for the creation of three equity mutual funds and one fixed-income fund. Although details about what strategies the funds will employ are sparse, the initial filing implies that a growth-at-a-reasonable price approach may be used. Currently, the only other fund specializing in the region is T. Rowe Price Africa & Middle East (TRAMX).