Toronto Community Foundation Appoints Open Access Limited as Investment Advisor and Discretionary Asset Manager
TORONTO, July 31, 2012 /CNW/ - Open Access, Canada's only defined-contribution fiduciary manager, today announced its appointment as the Toronto Community Foundation's (TCF) investment advisor and discretionary asset manager. "We're honoured to work with the Toronto Community Foundation and excited to contribute to its success in connecting philanthropy with community needs in order to make Toronto the best place to live, work, learn, and grow," said Catherine Marsh, President and CEO of Open Access.
"After an extensive search, we were impressed by Open Access' fiduciary structure, their mandate to serve only the best interests of their clients, and their performance track record," said Rahul Bhardwaj, President and CEO of the Toronto Community Foundation. "We are convinced that Open Access can deliver the combination of investment performance, discipline and risk management that we require for the Toronto Community Foundation. The investment team at Open Access is well-regarded for its ability to generate above median returns while mitigating exposure to risk considerably."
With more than 375 funds and assets of more than $225 million, the Toronto Community Foundation is one of Canada's largest charitable foundations.
"The TCF's Investment Committee is world class and we intend to deliver to that standard," added Zev Frishman, Senior Vice President and Chief Investment Officer. "This is a mandate we very much look forward to serving."
Open Access is Canada's first and only Capital Accumulation Plan fiduciary provider, and is driven by a philosophy that all working Canadians deserve to retire well, not just the privileged. Open Access proudly serves as the discretionary investment manager for employers, employees and institutional mandates and prides itself on its practical approach to research and development. The organization adheres to a fiduciary standard that calls for full disclosure, no proprietary offerings, no conflicts of interest and complete transparency.
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