ST. PETERSBURG, FL, May 1, 2015 /CNW/ - Cougar Global Investments Ltd. – a solutions-focused asset manager headquartered in Toronto – is officially an affiliate of Eagle Asset Management, Inc. The arrangement recently garnered the approval of Canadian regulators. Eagle will now offer its new affiliate's global asset-allocation strategies to clients worldwide. Cougar Global is a wholly owned subsidiary of Raymond James Financial.
Eagle is a wholly owned subsidiary of Raymond James Financial (NYSE:RJF), which is headquartered in St. Petersburg, Florida. Paul Allison – Chairman and Chief Executive Officer of Raymond James Ltd., the Canadian arm of Raymond James – commented, "We are pleased to welcome the Cougar Global investment team into the Raymond James family. This strengthens our platform and ability to deliver a greater variety of investment choices to our Canadian clients and other investors."
Founded in 1993, Cougar Global is a global asset-allocation ETF strategist that markets its investment services to high-net-worth individuals, families, foundations, trusts and institutions in Canada and the United States. As of March 31, 2015, assets in Cougar Global's investment strategies totaled more than CDN $1.8 billion.
"This acquisition continues to enhance our presence within the asset-management industry by providing us with an important suite of investment options that our clients are seeking," said Richard Rossi, President of Eagle and Co-chief Operating Officer.
"Solution-based approaches are evolving and becoming a more integral component of investor portfolios," added Cooper Abbott, CFA, Eagle's Head of Investments and Co-chief Operating Officer. "We are pleased to be able to offer proven investment strategies that share Eagle's historical philosophy of delivering superior risk-adjusted returns."
Cougar Global's proprietary investment process constructs globally diversified portfolios designed to perform in accordance with clients' investment objectives. The firm's investment process employs a downside-risk-management methodology and tactical-asset allocation that seeks to protect clients' assets in down markets.
James Breech, PhD, MBA, President, Chief Executive Officer and Chief Investment Officer of Cougar Global, commented on behalf of the investment team and firm, "We are confident that we have found a partner that is equally committed to our clients and with whom we can work to reach other investors who can benefit from our proven wealth-management solutions."
Eagle Asset Management has more than $32.8 billion* in assets under advisement from institutional, mutual fund and high-net-worth clients. Eagle is a wholly owned subsidiary of Raymond James Financial (NYSE:RJF). As a result of the transaction and a subadvisory arrangement, Cougar Global is a wholly owned subsidiary of Raymond James Financial.
About Eagle Asset Management, Inc.
Eagle Asset Management provides institutional and individual investors with a broad array of equity and fixed-income products.
*As of March 31, 2015, the firm's clients currently entrust more than $32.8 billion in investment strategies designed to deliver above-average, risk-adjusted returns via both separately managed account and mutual fund platforms. Includes Eagle Boston Investment Management, Inc., a wholly owned subsidiary of Eagle Asset Management, Inc. and ClariVest Asset Management LLC, an affiliate of Eagle Asset Management, Inc.
SOURCE Eagle Asset Management, Inc.
For further information: Liz Gunning, Eagle Asset Management, Inc., 727.567.3551, [email protected], www.eagleasset.com