MONTREAL, March 7 /CNW Telbec/ - Standard Life Canada announced today the
addition of Addenda Capital inc. to its Quality & Choice Investment Program,
which is the investment platform for its Group Savings and Retirement
business. One of Addenda's successful Canadian Bond strategies is offered as a
new investment option in the Quality & Choice program.
Addenda is a publicly traded (TSX- ADV), Montréal-based fixed income
manager. By concentrating exclusively on fixed income investments it is
consistently able to add value for its clients. Over the last several years
its growth has been a testament to the success of its investment process.
Addenda is currently ranked tenth in a survey of Canada's top 40 pension fund
managers(1). According to Mrs. Nathalie Simard, Vice-President, Marketing &
Communications at Addenda "we are excited about the opportunity to partner
with Standard Life and make our investment expertise available to this wide
pool of retirement programs."
Brian Cyr, Management Associate, Quality & Choice Investment Program,
notes "the addition of Addenda to our lineup creates additional investment
opportunities within the Fixed Income selection for plan sponsors and their
members while at the same time adding real value to our program". This is in
line with the philosophy of the Quality & Choice Investment Program, which is
to select managers based on their consistent long-term results, the quality of
the organization and suitability as an investment option for members of group
retirement and savings programs.
Standard Life and Addenda Capital inc. are respected leaders in the
pension plan industry with proven track records in the Canadian pensions
market. "Partnering with an industry leader like Addenda provides us with a
greater opportunity to bring value to plan sponsors by helping them build
appealing and successful retirement programs." added Anthony Cardone, Senior
Vice-President, Group Savings and Retirement at Standard Life Canada. The
Quality & Choice Investment Program now consists of 15 money managers offering
over 85 unique investment options to members of Standard Life's group savings
and retirement programs.
About Standard Life:
Standard Life Canada is a major investment, retirement and financial
protection company. Along with its affiliated companies in Canada, as of
June 30, 2006, The Standard Life Assurance Company of Canada had $34.5 billion
in assets under management and offered a wide range of financial products and
services to over 1.31 million individuals, including group insurance and
pension plan members. Total premium income and deposits reached $5.2 billion
in 2005. Standard Life has been a prominent player in the Canadian marketplace
The Standard Life group is a leading provider of financial products and
services, with approximately 7 million customers worldwide. As of June 30,
2006, its investment management business had $254 billion in assets under
management. Founded in Edinburgh (Scotland) in 1825, The Standard Life
Assurance Company became a mutual life insurance company in 1925. Following
overwhelming support by voting members and subsequent approval from the Court
of Session in Scotland, the Company demutualized and a new public company -
Standard Life plc - was born. Standard Life plc was listed on the London Stock
Exchange (LSE), under the ticker symbol or code SL., on July 10, 2006.
About Addenda Capital:
Founded in 1996, Addenda Capital inc. specializes in the active
management of bond portfolios for an institutional clientele. Over the years,
Addenda has established one of the industry's premier fixed-income security
management teams. A total of eighteen investment professionals track the
markets, manage portfolios and service its valued clients. Assets under
management exceed $27 billion and Addenda's historical returns rank it among
the Canadian investment industry's leading performers.
(1) Benefits Canada, June 2006, "Top 40 Money Managers"
For further information:
For further information: please contact: Michèle Parent, Vice-President,
External Communications and Corporate Affairs, Standard Life, (514) 499-7999
ext. 4273; Nathalie Simard, Vice-President, Marketing & Communications,
Addenda Capital inc., (514) 287-7373