TORONTO, July 21 /CNW/ - The International Scholarship Foundation
("ISF"), the sponsor and promoter of the USC Education Savings Plans, today
announced the appointment of two new investment managers for the USC Family
Group Education Savings Plan (the "Family Group Plan").
The ISF has appointed Fiera Capital Inc. ("Fiera") as an investment
manager of the Plan. Along with Addenda Capital Inc. and Guardian Capital LP,
who continue to be investment managers for the Plan, Fiera will actively
manage a portion of the Plan. Active management strategies attempt to
capitalize on expectations of interest rate movements and therefore tend to
have greater exposure to interest rate risk than passive strategies. Also, the
Foundation has appointed TD Asset Management Inc. to manage a portion of the
Plan using an indexed investment management approach. In contrast to active
managers, index managers are passive managers who try to match the performance
of the index and generally do so at a lower cost.
The Plan remains a conservative investment fund suitable for investors
focusing on a long term savings program, intended to fund post-secondary
education, and generally for those investors having a lower tolerance for
risk. These changes to the Plan are not expected to have a significant impact
on the overall level of risk associated with an investment in the Plan.
Furthermore, the Plan's investment philosophy, style and method remain the
same. The risk of investing in the Plan and its suitability for investors
remain as discussed in the Prospectus for the Plan.
The International Scholarship Foundation has been sponsoring and
promoting education savings plans in Canada for over forty years. USC
Education Savings Plans Inc. ("USCI"), a wholly-owned subsidiary of the ISF,
has also been distributing RESPs for more than 40 years and administers more
than $2.3 billion. USCI has approximately 400 licensed sales representatives
across the country.
For further information:
For further information: Mark George, Chief Financial Officer of The
International Scholarship Foundation, at (905) 270-4630 ext 4329