November 30, 2004
Assante Wealth Management announces changes to two Assante Optima Strategy Pools
TORONTO, ONTARIO - Assante Asset Management Ltd. today announced changes to the portfolio management arrangements for two investment pools in its Assante Optima Strategy program.
The investment management mandate of the Assante US Equity Growth Pool has been awarded to Wellington Management Company, LLP. Founded in 1928, Wellington Management is one of America's oldest investment management firms and currently manages over $428 billion US in client assets. Headquartered in Boston, Wellington Management provides investment services to many of the world's leading public and private institutions.
Similarly, the investment management mandate for the Assante Canadian Equity Diversified Pool will be shared by Connor, Clark & Lunn Investment Management Ltd. (CC&L) of Vancouver and Tetrem Capital Partners Ltd. of Winnipeg.
CC&L has managed North American equities on behalf of institutional investors for over 20 years and has managed the Assante Canadian Equity Growth pool since early 2003. Established in 1982, CC&L currently manages in excess of $12 billion Cdn in assets. In managing their portion of the Assante Canadian Equity Diversified Pool, lead managers Bill Tilford and Gordon MacDougall will incorporate a growth investment strategy that maximizes exposure to profitable companies with positive earnings growth and possess above-average characteristics in terms of balance sheet and income statement strength.
Tetrem Capital Partners is led by Daniel Bubis, former Chief Investment Officer of Assante Asset Management and one of Canada's top money managers. Tetrem manages over $1.5 billion Cdn in assets as a sub-advisor to the Assante Canadian Equity Value Pool and other Canadian and U.S. equity accounts. Mr. Bubis and his team will employ their value-oriented investment strategies in managing their portion of the pool.
The above changes will be effective January 7, 2005.
Assante Optima Strategy is a multi-manager family of 18 mutual funds providing a broad range of geographically diversified investment options and multiple asset classes.
Assante Wealth Management creates wealth and prosperity for Canadian families by providing integrated wealth management solutions through a national network of about 850 professional advisors in 300 offices across Canada. Assante Wealth Management's solutions include investment advice, portfolio management, tax planning, insurance, and estate planning. Assante Wealth Management is a business brand name of Assante Corporation and its affiliates. Assante administers $20 billion on behalf of its clients and is a wholly owned subsidiary of CI Fund Management Inc. (TSX: CIX).
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For further information, please contact:
Garnet Anderson; Vice President, Investments
Assante Asset Management Ltd.,
Tel.: (416) 681-1736
Ganderson@assante.com
