Addenda Capital Inc.
Contact: Janick Boudreau, CFA |
Executive Vice-President
Business Development & Client Partnerships
Address: 800 René-Lévesque Blvd. W., Suite 2750 Montréal, QC, H3B 1X9
PH: 514-908-1989
Fax: 514-287-7200
Email: [email protected]
Website: addendacapital.com
Total Canadian clients: 218
Number for whom you currently manage EAFE & EM portfolios: 23
Separately managed AUM in CDN $M for Canadian clients: EAFE $988.4
Pooled AUM in CDN $M for Canadian clients: US $266; EAFE $268
Total EAFE & EM pension AUM for Canadian clients: $4
Total Canadian pension AUM for Canadian clients: $7,027
Total Pension AUM by firm: $7,027
Management style: Active, large, growth
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: May 1, 2012
Ownership structure: Third party (Co-operators Financial Services Limited is the firm’s principal shareholder and owns 96.7%. Addenda Capital employees own 3.3%)
Portfolio managers: 27
Research analysts: 31
Performance presentation standards: GIPS
Locations: Montréal, Toronto, Guelph, Regina
Minimum investment (CDN $M) Pooled, $5; separate, $10
AllianceBernstein L.P.
Contact: Steven Arts, VP Institutional Advisor
Address: 200 Bay Street, North Tower, suite 1200
Toronto, ON, M5J 2J2
PH: 647-375-2805
Email: [email protected]
Website: alliancebernstein.com/americas/en/institutions/home.html
Total Canadian clients: 23
Number for whom you currently manage EAFE & EM portfolios: 16
Separately managed AUM in CDN $M for Canadian clients: US $357.7; EAFE $392.1
Pooled AUM in CDN $M for Canadian clients: EAFE $768.4; EM $102.3
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $1,262.8
Total Canadian pension AUM for Canadian clients: $1,620.6
Total pension AUM by firm: $64,178
Management style: Active; other – we offer diversified and single-sector strategies for fixed income and both growth and value equity strategies within EMEA and EM
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 1980s
Ownership structure: Principals, 14%; publicly held, 25%; third party, 61% (Equitable Holdings, Inc.)
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: AllianceBernstein is affiliated with several financial service organizations, the most prominent being Equitable Holdings, Inc. (EQH), our majority owner. EQH is a leading financial services company comprised of two principal franchises: Equitable Financial Life Insurance Company and AllianceBernstein.
Portfolio managers: 78 – captures fixed income and equity PMs
Research analysts: 163 – captures fixed income and equity analysts
Performance presentation standards: AIMR, other
Locations: As of March 31, 2024, AllianceBernstein maintained offices in 54 cities across 27 countries and jurisdictions. Our headquarters is located in Nashville, TN.
Minimum investment (CDN $M) Pooled, $10; separate, $25
Amundi Canada Inc
Contact: Tanya Bishop, Senior Vice President
Address: 120 Adelaide Street West
Toronto, ON, M5H 1T1
PH: 647-201-4225
Fax: 437-551-4222
Email: [email protected]
Website: amundi.ca
Total Canadian clients: 38
Number for whom you currently manage EAFE & EM portfolios: 8
Separately managed AUM in CDN $M for Canadian clients: Single country $24; EM $79
Pooled AUM in CDN $M for Canadian clients: EM, $214
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $247
Total Canadian pension AUM for Canadian clients: $7,349
Total pension AUM by firm: $11,965
Management style: Active, large, value; other – both passive and active
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed for: 20 years
Ownership structure: Principals, 68.93%; publicly held, 29.2%; third party, 1.88% (employees)
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Amundi Paris, Amundi London
Portfolio managers: 100+
Research analysts: 100+
Performance presentation standards: Other
Locations: Boston, London, Paris, Milan and more than 40 other local offices
Minimum investment (CDN $M) Separate, $100
BAILLIE GIFFORD INTERNATIONAL LLC
Contact: Anthony Spagnolo, Client Director
161 Bay Street, Suite 2700
Toronto, Ontario, M5X 1E3
Phone: 416-505-5927
Email: [email protected]
Website: bailliegifford.com
Total Canadian clients: 66
Number for whom you currently manage EAFE & EM portfolios: 23
Separately managed AUM in CDN $M for Canadian clients: EAFE $2,853.21; EM $741.03
Pooled AUM in CDN $M for Canadian clients: US $48.62; EAFE R249.67; single country $1.13; EM $728.05
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $944
Total Canadian pension AUM for Canadian clients: $7,281
Total pension AUM by firm: $175,695
Management style: Active, growth
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: Our EM capability developed gradually during the 1990s.
Ownership structure: Principals, 100%
Business relationships with other companies? No
Portfolio managers: 114
Research analysts: 61 investment analysts (includes ESG analysts)
Locations: Edinburgh, London, New York, Shanghai, Dublin, Hong Kong, Amsterdam, Frankfurt, Toronto, Zurich, Singapore
Minimum investment (CDN $M): Pooled, $10; separate, please contact for details
Beutel, Goodman & Company Ltd.
Contact: Craig Auwaerter
Senior Vice President
Client Service & Business Development
Address: 2000-20 Eglinton Avenue
Toronto, ON, M4R 1K8
PH: 416-932-6342, ext. 342
Fax: 416-485-1799
Email: [email protected]
Website: beutelgoodman.com/
Total Canadian clients: 115
Number for whom you currently manage EAFE & EM portfolios: 3
Separately managed AUM in CDN $M for Canadian clients: US $3,656; EAFE $516; single country $11,596
Pooled AUM in CDN $M for Canadian clients: US $3,358; EAFE $572; single country $10,175
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $606
Total Canadian pension AUM for Canadian clients: $25,994
Total pension AUM by firm: $26,357
Management style: Active, All Cap
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: January 1, 2001
Ownership structure: Principals, 51%; third party, 49% (Affiliated Managers Group [AMG])
Business relationships with other companies? Yes
Portfolio managers: 2
Research analysts: 6
Locations: Toronto
Minimum investment (CDN $M): Pooled, $10m; separate, $25m
Black Creek Investment Management Inc.
Contact: Simone Edwards
Director, Sales and Consultant Relations
123 Front Street W., Suite 1200
Toronto, ON, M5J 2M2
Ph: 647-338-9521
Fax: 416-236-5117
Email: [email protected]
Website: bcim.ca
Total Canadian clients: 33
Number for whom you currently manage EAFE & EM portfolios: 9
Separately managed AUM in CDN $M for Canadian clients: EAFE $1,785.78
Pooled AUM in CDN $M for Canadian clients: EAFE $51.31
*As defined by MSCI/ACWI (CDN $M)
Total Canadian pension AUM for Canadian clients: $869
Total pension AUM by firm: $2,241
Management style: Active, core; other – all cap
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 2008
Ownership structure: Principals, 100%
Business relationships with other companies? No
Portfolio managers: 3
Research analysts: 6
Performance presentation standards: AIMR
Locations: Toronto
Minimum investment (CDN $M): Pooled, $5; separate, $50
BMO GLOBAL ASSET MANAGEMENT
Contact: Daniel Stanley, Managing Director,
Co-Head of Institutional Distribution
100 King Street West
Toronto, ON, M5X 1A1
Phone: 416-947-3012
Email: [email protected]
Website: institutional.bmogam.com/ca-en/
Total Canadian clients: Private and confidential
Number for whom you currently manage EAFE & EM portfolios: Private and confidential
Pooled AUM in CDN $M for Canadian clients: US $130.70; EAFE $151.62; single country $155.30
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: Private and confidential
Total Canadian pension AUM for Canadian clients: Private and confidential
Total pension AUM by firm: Private and confidential
Management style: Passive, mid/large, core; Other – market capitalization + factor beta
Do you actively manage currency? Yes (both hedged & unhedged exposure available)
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed for: 15 years
Ownership structure: Principals, 100%
Business relationships with other companies? Yes.
Name and location of affiliate/business relationship: BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc., and BMO Investments Inc.(Investment Fund Manager)
Portfolio managers: 11
Research analysts: 2
Performance presentation standards: AIMR, GITS
Locations: Toronto, Montreal, Vancouver
Minimum investment (CDN $M): Pooled, $10M; separate,$50M
Additional Notes: Exchange Traded Funds do not trade through the asset manager in the same way Pools & SMAs do. It is possible to identify who is an institutional client by trade size, but the holders are anonymous because trades execute on Exchanges. We have identified 71.43% (as of June 2024) of our AUM is institutional, classified as either asset owner or asset manager.
Disclaimers: Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. “BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
Burgundy Asset Management Ltd.
Contact: Mike Sandrasagra
VP, Global Head of Consultant Relations
Address: 181 Bay Street, Suite 4510
Toronto, ON, M5J 2T3
PH: 416-869-8980
Fax: 416-869-1700
Email: [email protected]
Website: burgundyasset.com
Total Canadian clients: 96
Number for whom you currently manage EAFE & EM portfolios: 5
Separately managed AUM in CDN $M for Canadian clients: US $1,411; Single country $101
Pooled AUM in CDN $M for Canadian clients: US $3; EAFE $440; single country $18;
EM $3
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $444
Total Canadian pension AUM for Canadian clients: $5,367
Total pension AUM by firm: $6,364
Management style: Active, large, value; other – bottom-up, fundamental
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 2005 and 2010 respectively
Ownership structure: Principals, 100%
Business relationships with other companies? No
Portfolio managers: 13
Research analysts: 17
Performance presentation standards: Other
Locations: Toronto, Montreal, Vancouver
Minimum investment (CDN $M): Pooled, $5; separate, $10
Capital Group Canada
Contact: Kevin Martino
Vice-President
Address: Institutional Brookfield Place, 181 Bay Street, Suite 3100 Toronto, ON, M5J 2T3
PH: 416-815-2128
Fax: 213-486-9223
Email: [email protected]
Website: capitalgroup.com/ca
Total Canadian clients: 9
Number for whom you currently manage EAFE & EM portfolios: 2
Separately managed AUM in CDN $M for Canadian clients: EAFE $476
Pooled AUM in CDN $M for Canadian clients: US $247; EAFE $683; EM $136
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $11
Total Canadian pension AUM for Canadian clients: $823
Total pension AUM by firm: $823
Management style: Active, core; other – market cap = small, mid, and large
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 1978
Ownership structure: Principals, 100%
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: The Capital Group Companies, Inc. (Capital Group) is the parent company of a number of organizational entities that provide investment management and related services. Capital International Asset Management (Canada), Inc. (CIAM) serves as the investment advisor to Capital Group’s mutual funds in Canada. CIAM is a wholly owned subsidiary of Capital Group International, Inc. that is owned by Capital Research and Management Company, a wholly owned subsidiary of The Capital Group Companies, Inc. Questions in this section are answered from the perspective of Capital Group.
Portfolio managers: 126
Research analysts: 232
Performance presentation standards: GIPS
Locations: We have 11 investment and research offices around the world, located in London, Geneva, Los Angeles, San Francisco, Toronto, New York, Washington, D.C., Tokyo, Hong Kong, Singapore and Mumbai. Service offices are located in Amsterdam, Atlanta, Chicago, Frankfurt, Hampton Roads, Indianapolis, Irvine, Luxembourg, Madrid, Menlo Park, Milan, Montreal, Reno, San Antonio, Seattle, Shanghai, Sydney and Zurich.
Minimum investment (CDN $M): Pooled, $15; separate, $125
Connor, Clark & Lunn Investment Management LTD. (CC&L)
Contact: Brent Wilkins
Head of Institutional Sales, Canada
Address: 1400-130 King Street West, PO Box 240
Toronto, ON, M5X 1C8
PH: 416-364-5396
Fax: 416-363-2089
Email: [email protected]
Website: cclgroup.com
Total Canadian clients: 179
Number for whom you currently manage EAFE & EM portfolios: 26
Pooled AUM in CDN $M for Canadian clients: EAFE $326.00; EM: $1,097.80
*As defined by MSCI/ACWI (CDN $M):
Total EAFE & EM pension AUM for Canadian clients: $778.10
Total Canadian pension AUM for Canadian clients: $26,064.30
Total pension AUM by firm: $40,192.80
Management style: Active, large, core; other – market capitalization includes all cap and small cap
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 2013
Ownership structure: Principals, 71%; third party, 29% (Connor, Clark & Lunn Financial Group Ltd.)
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Connor, Clark & Lunn Financial Group Ltd. Vancouver, Toronto, Montreal, Connecticut (US), London (UK), Gurugram (India)
Portfolio managers: 8
Research analysts: 36
Performance presentation standards: Other
Locations: Investment professionals, Vancouver; administration/sales: Toronto, Montreal, Connecticut, London (UK), Gurugram (India)
Minimum investment (CDN $M): Pooled, $10; separate, $300
CIBC Asset Management
Contact: Carlo DiLalla
Managing Director & Head
Institutional Asset Management
Address: 161 Bay Street, Suite 2230
Toronto, ON, M5J 2S1
PH: 416-980-2768
Email: [email protected]
Website: cibcam-institutional.com
Total Canadian clients: 125
Number for whom you currently manage EAFE & EM portfolios: 44
Separately managed AUM in CDN $M for Canadian clients: US $1,017.12; EAFE $249.05; single country, $39,694.02
Pooled AUM in CDN $M for Canadian clients: US $755.08; EAFE $563.08; single country, $107.57
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $1,560
Total Canadian pension AUM for Canadian clients: $29,468
Total pension AUM by firm: $32,286
Management style: Active, large, growth; other – passive
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 1992
Ownership structure: Publicly held, 100%
Business relationships with other companies? No
Portfolio managers: 22
Research analysts: 32
Performance presentation standards: AIMR
Locations: Toronto, Montreal
Minimum investment (CDN $M): Pooled, $10; separate, $25
Desjardins Global Asset Management
Contact: Natalie Bisaillon
Vice-President & Chief of Partnerships &
Institutional Client Relations
Address: 1, Complexe Desjardins,
20th Floor, South Tower
Montreal, Québec, H5B 1B2
PH: 514-214-5742
Fax: 514-281-7253
Email: [email protected]
Website: dgam.ca
Total Canadian clients: 39
Number for whom you currently manage EAFE & EM portfolios: 6
Separately managed AUM in CDN $M for Canadian clients: EAFE $126
Pooled AUM in CDN $M for Canadian clients: EM $258
*As defined by MSCI/ACWI (CDN $M)
Total Canadian pension AUM for Canadian clients: $11,201
Total pension AUM by firm: $11,201
Manager style: Active, large, core; other – core with a value bias
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 1991
Ownership structure: Third party, 100% (Desjardins Movement, a financial services co-operative that belongs to its members)
Business relationships with other companies? No
Portfolio managers: 6
Research analysts: 2
Performance presentation standards: AIMR
Locations: Montréal, Lévis, Toronto
Minimum investment (CDN $M): Pooled, $5; separate, $50
Fidelity Canada Institutional
Contact: Michael Barnett
Executive Vice-President, Institutional
Address: 483 Bay Street
Toronto, ON, M5G 2N7
PH: 416-217-7773
Email: [email protected]
Website: institutional.fidelity.ca/fci/en/
Total Canadian clients: 110
Number for whom you currently manage EAFE & EM portfolios: 19
Separately managed AUM in CDN $M for Canadian clients: US $536.81; EAFE $213.75; single country $7,434.09; EM available
Pooled AUM in CDN $M for Canadian clients: US $661.81; EAFE $946.08; single country $9,480.77; EM $74.62
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $1,234
Total Canadian pension AUM for Canadian clients: $36,208
Total pension AUM by firm: $36,208
Management style: Active; other – market capitalization, all; style, all
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed for: over 30 years
Ownership structure: Fidelity is a privately owned firm
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: For certain Funds, Fidelity Management & Research Company LLC (“FMR”), FIL Limited (“FIL”), FMR Investment Management (UK) Limited (“FMR IM UK”), Geode Capital Management LLC (“Geode”), and State Street Global Advisors Ltd. may act as a sub-adviser to Fidelity Investments Canada ULC (“FIC”). FIC may engage such sub-advisers to make investments for the Funds. These entities may also provide other services to the Funds, including investment compliance and proxy voting. ii. Fidelity Fund and Investment Operations (“FFIO”), a division of Fidelity Service Company, Inc. (“FSC”), provides fund accounting and investment management support services to the Funds, including calculating the daily Net Asset Value per unit for the Funds. iii. Portfolio trades in respect to the Funds may be made through Fidelity Capital Markets Services (“FCMS”), a broker affiliated with FIC. FIC has received standing instructions from the Funds’ Independent Review Committee regarding trading through FCMS.
Portfolio managers: FMR, 214 (Source: Fidelity Investments as of June 30, 2024. Data is unaudited. FMR figure reflects the total number of portfolio managers of Fidelity Management & Research Company, a US company, and its subsidiaries); FIL, 137 (Source: Fidelity International as of June 30, 2024. Data is unaudited. FIL figure reflects the total number of portfolio managers of FIL); FIC, 17 (Source: Fidelity Investments Canada as of June 30, 2024. Data is unaudited. FIC figure reflects the total number of equity portfolio managers of FIC)
Research analysts: FMR, 440 (Source: Fidelity Investments as of June 30, 2024. Data is unaudited. FMR figure reflects the total number of Research Professionals [combined total of analysts and associates] of Fidelity Management & Research Company, a US company, and its subsidiaries); FIL, 181 (Source: Fidelity International as of June 30, 2024. Data is unaudited. FIL figure reflects the total number of research professionals [analysts and associates combined] and analysts with dual role with portfolio management role of FIL); FIC, 20 (Source: Fidelity Investments Canada as of June 30, 2024. Data is unaudited. FIC figure reflects the total number of equity portfolio managers of FIC)
Performance presentation standards: GIPS
Locations: Fidelity has investment offices around the globe, including the USA, Canada, UK and Hong Kong. Fidelity Investments Canada’s headquarter is located in Toronto, with regional offices in Montreal, Calgary, and Vancouver.
Minimum investment (CDN $M): Pooled, $7.5
Fiera Capital Corporation
Contact: Sarah Aves
Co-Head of Canadian Institutional Clients
Address: 1981 McGill College Avenue, Suite 1500 Montreal, QC, H3A 0H5
PH: 416-475-8566
Fax: 416-866-2390
Email: [email protected]
Website: fieracapital.com
Total Canadian clients: 3,543
Number for whom you currently manage EAFE & EM portfolios: 609
Separately managed AUM in CDN $M for Canadian clients: US $1261.68486; EM $0.51862381
Pooled AUM in CDN $M for Canadian clients: US $3130.18048; EAFE $330.8683394; EM $126.0657671
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $89
Total Canadian pension AUM for Canadian clients: $29,762
Total pension AUM by firm: $34,512
Management style: Active, large, growth, other – Fiera Capital offers a broad spectrum of investment strategies across asset classes, styles and capitalization ranges; GARP – growth at reasonable price
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 2010
Ownership structure: Principals, 21%; publicly held, 79%
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Fiera Real Estate (Toronto, Montreal, Halifax & London); Fiera Infrastructure (Toronto, London & New York); Fiera Comox (Montreal); Fiera Private Debt (Laval, Montreal, Toronto & New York); Pinestone (Montreal)
Portfolio managers: 47
Research analysts: 37
Performance presentation standards: AIMR, GIPS
Locations: Montreal, Toronto, Calgary, New York; Boston; Dayton (Ohio); London (UK); Frankfurt; Isle of Man; Zurich; The Hague; Hong Kong; Singapore; Abu Dhabi
FOYSTON, GORDON & PAYNE INC.
Contact: Gabriel Lopezpineda, Vice President,
Client Relationship & Business Development Manager
1 Adelaide Street East, Suite 2600
Toronto, Ontario, M5C 2V9
Phone: 416-848-1948
Fax: 416-867-1183
Email: [email protected]
Website: foyston.com
Total Canadian clients: 912
Number for whom you currently manage EAFE & EM portfolios: 440
Separately managed AUM in CDN $M for Canadian clients: US $126; EAFE $115
Pooled AUM in CDN $M for Canadian clients: US $348; EAFE $349
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $72
Total Canadian pension AUM for Canadian clients: $1,975
Total pension AUM by firm: $1,975
Management style: Active, value; other – market capitalization = all-cap
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed for: 30+ years
Ownership structure: Principals, minority; third-party, majority (Affiliated Managers Group, Inc.)
Business relationships with other companies? No
Portfolio managers: 11
Research analysts: 4
Locations: Toronto
Minimum investment (CDN $M): Pooled, $5; separate, $2.5
Franklin Templeton
Contact: Dennis Tew
Head of Sales, Canada
Address: 200 King Street W, Suite 1400
Toronto, ON, M5H 3T4
Ph: 416-957-6023
Email: [email protected]
Website: franklintempleton.ca
Total Canadian clients: 86
Number for whom you currently manage EAFE & EM portfolios: 23
Separately managed AUM in CDN $M for Canadian clients: Single country $378; EM $341
Pooled AUM in CDN $M for Canadian clients: US $117; EAFE $95; single country $714; EM $591
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $1,027
Total Canadian pension AUM for Canadian clients: $13,419
Total pension AUM by firm: $13,419
Management style: Active; other – market cap: small, mid, large; style: value, growth, core
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: EAFE, 1954; EM, 1987
Ownership structure: Principals, 36%; publicly held, 64%
Name and location of affiliate/business relationship: Franklin Resources, Inc
Portfolio managers: 223
Research analysts: 207
Performance presentation standards: GIPS
Locations: Toronto; Nassau (Bahamas); Fort Lauderdale; Edinburgh; Singapore; Melbourne (Australia); Hong Kong; Shanghai; Rio De Janeiro; Buenos Aires; Warsaw; Istanbul; Moscow; Dubai; Mumbai; Vienna; Bucharest; Johannesburg; Ho Chi Minh City; Kuala Lumpur; Seoul; Bangkok
Minimum investment (CDN $M): Pooled, $1m; separate, varies by strategy
Global Alpha Capital Management
Contact: Brent Wilkins
Head of Institutional Sales – Canada
Address: 1400-130 King Street W. P.O Box 240
Toronto, ON, M5X 1C8
PH: 416-364-5396
Fax: 416-363-2089
Email: [email protected]
Website: globalalphacapital.com
Total Canadian clients: 58
Number for whom you currently manage EAFE & EM portfolios: 17
Separately managed AUM in CDN $M for Canadian clients: EAFE $864
Pooled AUM in CDN $M for Canadian clients: EAFE $233.50; EM $12.3
*As defined by MSCI/ACWI (CDN $M):
Total EAFE & EM pension AUM for Canadian clients: $822.1
Total Canadian pension AUM for Canadian clients: $2,105.5
Total pension AUM by firm: $5,592.6
Management style: Active, small, core
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: EAFE, 2009; EM, 2021
Ownership structure: Principals, 51%; third party, 49%
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Connor, Clark and Lunn Financial Group; Montreal, Toronto, Vancouver, Connecticut, London (UK), Gurugram (India)
Portfolio managers: 7
Research analysts: 4
Performance presentation standards: Other
Locations: Montreal; administration/sales, Toronto, Vancouver, Connecticut, London (UK), Gurugram (India)
Minimum investment (CDN $M) Pooled, $1; separate, $20
Guardian Capital LP
Contact: Robin Lacey
Head of Institutional Asset Management
Address: 199 Bay Street, Commerce Court W., Suite 2700
Toronto, ON, M5L 1E8
PH: 416-947-4082
Fax: 416-364-9634
Email: [email protected]
Website: guardiancapital.com
Total Canadian clients: 83
Number for whom you currently manage EAFE & EM portfolios: 10
Separately managed AUM in CDN $M for Canadian clients: US $25; EAFE $3; single country $8,412
Pooled AUM in CDN $M for Canadian clients: US $255; EAFE $104; single country $2,131; EM $23
*As defined by MSCI/ACWI (CDN $M)
Total Canadian pension AUM for Canadian clients: $2,690
Total pension AUM by firm: $6,134
Management style: Active; other – market cap: mid to large; style: growth & core
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 2004
Ownership structure: Wholly owned by Guardian Capital Group Limited
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: GuardCap Asset Management Limited, London UK; Guardian Capital Advisors LP, Toronto, Vancouver, Calgary; Alexandria Bancorp Limited, Cayman Islands; Guardian Capital Real Estate Inc., Toronto; Guardian Ethical Management Inc.; Alta Capital Management, Utah, USA; Agincourt Capital Management Virginia, USA; Guardian Partners Inc., Toronto; Rae & Lipskie Investment Counsel Inc., Waterloo
Portfolio managers: 34
Research analysts: 21
Performance presentation standards: Other
Locations: Toronto, Montreal, Calgary, London (UK), Salt Lake City, Richmond (USA)
Minimum investment (CDN $M): Pooled, $1
Hillsdale Investment Management Inc.
Contact: Harry Marmer, EVP
Address: 1 First Canadian Place 100 King Street West, Suite 5900, PO Box 477
Toronto, ON, M5X 1E4
PH: 416-913-3907
Fax: 416-913-3901
Email: [email protected]
Website: hillsdaleinv.com
Total Canadian clients: 27
Number for whom you currently manage EAFE & EM portfolios: 7
Separately managed AUM in CDN $M for Canadian clients: US $137; EAFE $138; single country $1,026; EM $51
Pooled AUM in CDN $M for Canadian clients: US $411; single country, $315
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $190
Total Canadian pension AUM for Canadian clients: $2,109
Total pension AUM by firm: $2,395
Management style: Active; core; other – customized strategies for global and small cap investing
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: Hillsdale has managed EAFE and EM assets since 2013
Ownership structure: Principals, third party, (Hillsdale is an institutional investment boutique aligned with its clients’ best interests)
Business relationships with other companies? No
Portfolio managers: 6
Research analysts: 10
Performance presentation standards: Other
Locations: Toronto
Minimum investment (CDN $M): Pooled, $2; separate, $25
Jarislowsky Fraser
Contact: Jeff Horbal, Lead, Consultant Relations and Senior Institutional Portfolio Manager
Address: 1010 Sherbrooke Street, 20th Floor
Montreal, QC, H3A 2R7
PH: 514-842-2727
Fax: 514-842-1882
Email: [email protected]
Website: jflglobal.com
Total Canadian clients: 498
Number for whom you currently manage EAFE & EM portfolios: 310
Management style: Active, large; other – GARP
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed for: +25 years
Ownership structure: Third party, 100% (the Bank of Nova Scotia)
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Scotiabank and affiliates
Portfolio managers: 3 PMs, 2 Associate PMs
Research analysts: 9
Performance presentation standards: GIPS
Locations: Montreal, Toronto, Calgary, Vancouver
Minimum investment (CDN $M): Pooled, $1; separate, $25
LAZARD ASSET MANAGEMENT LLC
Contact: Robert Harrison Director
161 Bay Street, 27th Floor
Toronto, ON, M5J 2S1
Phone: 416-945-6627
Fax: 212-830-3288
Email: [email protected]
Website: lazardassetmanagement.com
Total Canadian clients: 47
Number for whom you currently manage EAFE & EM portfolios: 9
Separately managed AUM in CDN $M for Canadian clients: US $1,952.77; EAFE $1,547.10; EM $29.33
Pooled AUM in CDN $M for Canadian clients: EAFE $25.84
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $584
Total Canadian pension AUM for Canadian clients: $1,538
Total pension AUM by firm: $72,920
Management style: Active, other n– Lazard manages assets across all markets caps and deploys all investment styles
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: EAFE, 1971; EM, 1990
Ownership structure: Third party, 100% (Lazard Asset Management LLC is a Delaware limited liability company. It is a wholly-owned subsidiary of Lazard Frères & Co. LLC (LF&Co.), a New York limited liability company with one member, Lazard Group LLC, a Delaware limited liability company. Interests of Lazard Group LLC are held by Lazard, Inc., which is a Delaware corporation with shares that are publicly traded on the New York Stock Exchange under the symbol “LAZ.” For additional details on ownership, please refer to Lazard’s Form ADV Part 1, which is available on the SEC website.)
Business relationships with other companies? No
Portfolio managers: 123
Research analysts: 114
Locations: Boston, Montreal, New York, San Fransisco, Toronto, Amsterdam, Brussels, Dublin, Frankfurt, Geneva, Hamburg, London, Madrid, Milan, Vienna, Zurich, Dubai, Hong Kong, Melbourne, Riyadh, Seoul, Singapore, Sydney, Tokyo
Minimum investment (CDN $M): Pooled, $1.4; separate, $6.8
Letko Brosseau
Contact: David Després
Vice President, Investment Services
Address: 1800 McGill College Avenue, Suite 2510
Montreal, Quebec, H3A 3J6
Ph: 514-499-1200
Fax: 514-499-0361
Email: [email protected]
Website: www.lba.ca
Total Canadian clients: 1,760
Number for whom you currently manage EAFE & EM portfolios: EM 1,650
Pooled AUM in CDN $M for Canadian clients: EAFE $13 million; single country (Canadian Equity) $302 million; EM $1,500 million
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $294.8 million
Total Canadian pension AUM for Canadian clients: $7,028 million
Total pension AUM by firm: $7,028 million
Management style: Active, value; other – all cap
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: EAFE, 1987; EM, 1992
Ownership structure: Principals, 77.4% (founders) and 7.8% (active employees); third party, 14.8% (group of private individuals not involved in firm operation – includes Thomas Birks, chair of the board)
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Arrow Partners, New York, USA; Candoris BV, Amsterdam, the Netherlands
Portfolio managers: 18
Research analysts: 4
Performance presentation standards: GIPS
Locations: Montreal, Toronto, Calgary
Minimum investment (CDN $M): Pooled, $0.3; separate, $5
Mawer Investment Management Ltd.
Contact: Neeraj Jain
Institutional Portfolio Manager
Address: 79 Wellington Street West TD South Tower, Suite 3410, Box 276
Toronto, ON, M5K 1J5
PH: 416-865-3929
Fax: 403-262-4099
Email: [email protected]
Website: mawer.com/
Total Canadian clients: 281
Number for whom you currently manage EAFE & EM portfolios: 260
Separately managed AUM in CDN $M for Canadian clients: US $4,256; EAFE $25,292; single country $3,943.2; EM $1.2
Pooled AUM in CDN $M for Canadian clients: US $2,134.1; EAFE $18,562.4; single country $4,383.5; EM $135.6
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $15,350
Total Canadian pension AUM for Canadian clients: $20,343
Total pension AUM by firm: $23,882
Management style: Active, core; other – market capitalization; all cap
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed for: 33 years
Ownership structure: Principals, 100%
Business relationships with other companies? No
Portfolio managers: 20
Research analysts: 18
Performance presentation standards: Other
Locations: Calgary, Toronto, Singapore
Minimum investment (CDN $M): Pooled, $10; separate, $50
MFS Investment Management Canada Limited
Contact: Christine Girvan
Senior Managing Director
Head of Canadian Distribution
Address: 77 King Street W., 35th Floor
Toronto, ON, M5K 1B7
PH: 416-361-7273
Email: [email protected]
Website: mfs.com
Total Canadian clients: 83
Number for whom you currently manage EAFE & EM portfolios: 19
Separately managed AUM in CDN $M for Canadian clients: EAFE $19.4; single country $171.1; EM $84.7
Pooled AUM in CDN $M for Canadian clients: US $763.5; EAFE $2,246.9; single country $2,058.8; EM $4
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $2,355
Total Canadian pension AUM for Canadian clients: $19,007
Total pension AUM by firm: $146,807
Management style: Active; other – market capitalization: all (small, mid & large); style: all (value, growth, core)
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: EAFE, 1996; EM, 1995
Ownership structure: Principals, up to 20%; third party 80% (Sun Life Financial, Inc.)
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: MFS Institutional Advisors, Inc.; MFS International (UK) Limited; MFS Investment Management K.K.; MFS International Ltd.; MFS International (Hong Kong) Limited; MFS International Singapore Pte. Ltd.; MFS Investment Management Canada Limited; MFS Fund Distributors, Inc.; MFS Service Center, Inc.; MFS do Brasil Desenvolvimento de Mercado Ltda.; MFS Investment Management Company, (Lux) S.ar.l.; MFS Heritage Trust Company, 3060097 Nova Scotia Company
Portfolio managers: 100
Research analysts: 131
Performance presentation standards: GIPS
Locations: Toronto, Boston, Hong Kong, London (UK), Tokyo, Singapore, São Paulo (Brazil), Luxembourg; Sydney (Australia)
NS Partners LTD.
Contact: Brent Wilkins
Head of Institutional Sales – Canada
Address: 1400-130 King Street West, PO Box 240
Toronto, ON, M5X IC8
PH: 416-364-5396
Fax: 416-363-2089
Email: [email protected]
Website: ns-partners.co.uk
Total Canadian clients: 18
Number for whom you currently manage EAFE & EM portfolios: 15
Separately managed AUM in CDN $M for Canadian clients: US $85
Pooled AUM in CDN $M for Canadian clients: US $2,248.4; EAFE $923.80; EM $611.0
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $111.6
Total Canadian pension AUM for Canadian clients: $111.6
Total pension AUM by firm: $585
Management style: Active, large, core, other – market capitalization is all cap. NS Partners’ manager style is a bias towards quality/growth
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: EAFE, 1981; EM, 1996
Ownership structure: Principals, 50%; third party, 50% (Connor, Clark & Lunn Financial Group Ltd.
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Connor, Clark & Lunn Financial Group; NS Partners
Locations: Toronto, Montreal, Vancouver, London (UK), Connecticut, Gurugram (India)
Portfolio managers: 10
Research analysts: 1
Performance presentation standards: Other
Locations: Investment professionals, London (UK); administration/sales, Toronto, Montreal, Vancouver, Connecticut, Gurugram (India)
Minimum investment (CDN $M): Pooled, $1; separate, $25
Pictet Asset Management
Contact: Francois Forget
Head of Distribution – Canada
Address: 1000 de la Gauchetière W., Suite 3100
Montreal, Quebec, H3B 4W5
PH: 514-518-8587
Email: [email protected]
Website: am.pictet
Total Canadian clients: 4
Number for whom you currently manage EAFE & EM portfolios: 1
Pooled AUM in CDN $M for Canadian clients: EM $227
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $227
Total Canadian pension AUM for Canadian clients: $229
Total pension AUM by firm: $77,664
Management style: Active, growth other – core EM, all cap, growth
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: Emerging debt, 1998; emerging equity, 1991
Ownership structure: Principals, 100% (Pictet Asset Management is held at 100% by the Pictet Asset Management Holding SA, Geneva. Pictet Asset Management Holding SA is in turn ultimately owned by the seven managing partners of the Pictet Group.)
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Pictet Asset Management Inc. (Pictet AM Inc) in Montreal is responsible for effecting solicitation in Canada to promote the portfolio management services of the London-based Pictet Asset Management Limited (Pictet AM Ltd), Geneva-based Pictet Asset Management SA (Pictet AM SA), and Pictet Alternative Advisors (PAA). In Canada, Pictet AM Inc is registered as an Exempt Market Dealer and is authorized to conduct marketing activities on behalf of Pictet AM Ltd, Pictet AM SA and PAA.
Portfolio managers: 214
Research analysts: 61 (note that this includes analysts, economists, and strategists)
Performance presentation standards: GIPS
Locations: Amsterdam, Brussels, Frankfurt, Geneva, Hong Kong, London (UK), Luxembourg, Madrid, Milan, Montreal, New York, Osaka, Paris, Shanghai, Singapore, Taipei, Tokyo, Zurich
Minimum investment (CDN $M): Pooled, $1.6; separate, $50
PIER 21 ASSET MANAGEMENT INC.
Contact: David M. Star, President & CEO
1751 Richardson St., Ste. 2.200
Montreal, QC, H3K 1G6
Phone: 514-397-4027
Fax: 514-397-8700
Email: [email protected]
Website: pier21am.com/
Total Canadian clients: 49
Number for whom you currently manage EAFE & EM portfolios: 49
Management style: Active, large, value; other: active large cap growth
Do you actively manage currency? No
EAFE & EM assets managed since: 2007
Ownership structure: Principals, 100%
Business relationships with other companies? No
Name and location of affiliate/business relationship: Copenhagen, London, Luxembourg, Sydney (Australia), Dublin
Performance presentation standards: AIMR
Locations: Montreal
Minimum investment (CDN $M): Pooled, $5; separate, $20
Setanta Asset Management
Contact: Rocco Vessio
Director Business Development, Canada
Address: 190 Simcoe Street
Toronto, ON, M5T 2W5
PH: 647-823-4813
Email: [email protected]
Website: setanta-asset.com/
Total Canadian clients: 7
Number for whom you currently manage EAFE & EM portfolios: 4
Pooled AUM in CDN $M for Canadian clients: EAFE $1,270
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $1,430
Total Canadian pension AUM for Canadian clients: $3,447
Total pension AUM by firm: $18,430
Management style: Active, value, other – all cap
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed for: 21 years
Ownership structure: Publicly held 100%
Business relationships with other companies? Yes
Name and location of affiliate/business relationship: Canada Life/Irish Life
Portfolio Managers: 13
Research Analysts: 3
Performance presentation standards: Other
Locations: Dublin, Frankfurt, Toronto
Minimum investment (CDN $M): Pooled, $50,000; separate, $25,000,000
SYMBIOTICS ASSET MANAGEMENT SA
Contact: Geoff Moore
Consultant and Placing Agent
255 Melville Avenue
Westmount, Quebec, H3Z 2J6
Phone: 514-619-7936
Fax: +41 22 338 15 41
Email: [email protected]
Website: symbioticsgroup.com/asset-management/
*As defined by MSCI/ACWI (CDN $M)
Total pension AUM by firm: $893
Management style: Active; other – We provide a buy and hold management style for private debt primary issuances in Emerging and Frontier Markets, with the intention of holding them until maturity. This asset class provides low volatility, stable returns and an illiquidity premium as a secondary market is not necessarily available. The average maturity of our instruments is two to three years.
Do you actively manage currency? Yes
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 2004
Ownership structure: Principals: A fully independent company, wholly owned by Symbiotics Group SA which has over 79 shareholders as of 31 December 2023. No single party owns more than 15% of the company.
Business relationships with other companies? No
Portfolio managers: 22
Research analysts: 48
Locations: Geneva (HQ), Zurich, Paris, Amsterdam, London (UK), Mexico City, Cape Town, Singapore, Delhi, Jerewan (Armenia)
Minimum investment (CDN $M): Pooled, $1,361,825; separate, $68,112,500
T. Rowe Price
Contact: Lauren Bloom
Head of Canada
Address: 77 King Street West, TD North Tower, Suite 4240
Toronto, ON, M5K 1G8
Ph: 647-355-6887
Email: [email protected]
Website: troweprice.com/en/ca
Total Canadian clients: 21
Number for whom you currently manage EAFE & EM portfolios: 3
Separately managed AUM in CDN $M for Canadian clients: US $4,727; EAFE $164; EM $329
Pooled AUM in CDN $M for Canadian clients: US $459; EM $46
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $540
Total Canadian pension AUM for Canadian clients: $4,336
Total pension AUM by firm: $1,201,162
Management style: Active; other – market capitalization includes small, medium, and large; style includes value, growth, and core
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: We have managed EAFE and EM assets since 1984 as part of our broader non-US portfolios.
Ownership structure: Publicly held, 100%
*T. Rowe Price Group, Inc. is an independent, publicly traded company with significant employee ownership. Common stock owned outright by our associates, combined with outstanding vested stock options and unvested restricted stock awards, total nearly 7% of the firm’s outstanding shares and outstanding vested stock options at December 31, 2023.
Business relationships with other companies? No
Portfolio managers: 147 (66 equity, 52 fixed income, and 29 multi-asset)
Research analysts: 295 (17 sector portfolio managers, 150 investment analysts, 43 associate analysts, 37 specialty analysts, 48 quantitative analysts)
Performance presentation standards: GIPS
Locations: Baltimore (US), London, Hong Kong, Owings Mills (US), Singapore, Tokyo, San Francisco, Colorado Springs (US), Copenhagen, Amsterdam, Stockholm, Sydney, Luxembourg, Toronto, Zurich, Dubai, Milan, Melbourne, Frankfurt, Madrid, New York, Philadelphia, Shanghai, Washington DC
Minimum investment (CDN $M): Pooled, $5; separate, $60
TD Global Investment Solutions
Contact: Mark Cestnik
Managing Director
Address: Address: 161 Bay St., 30th Floor
Toronto, ON, M5J 2T2
Ph: 416-274-1742
Email: [email protected]
Website: tdgis.com
Total Canadian clients: 535
Number for whom you currently manage EAFE & EM portfolios: 70
Separately managed AUM in CDN $M for Canadian clients: US $222
Pooled AUM in CDN $M for Canadian clients: US $9,204; EAFE $2,218; single country $188
*As defined by MSCI/ACWI (CDN $M)
Total EAFE & EM pension AUM for Canadian clients: $2,218
Total Canadian pension AUM for Canadian clients: $152,839
Total pension AUM by firm: $153,347
Management style: Active/passive, large, core,
Do you actively manage currency? No
EAFE & EM portfolios primarily managed: Internally
EAFE & EM assets managed since: 1992
Ownership structure: TD Global Investment Solutions represents TD Asset Management Inc. (“TDAM”) and Epoch Investment Partners, Inc. (“TD Epoch”). TDAM and TD Epoch are affiliates and wholly owned subsidiaries of The Toronto Dominion Bank.
Portfolio managers: 78
Research analysts: 202
Performance presentation standards: Other
Locations: Toronto, Montreal, Regina
Minimum investment (CDN $M): Pooled, $17; separate, $200