MONTRÉAL, June 4, 2015 /CNW Telbec/ - Gestion FÉRIQUE, as the manager of the FÉRIQUE Funds (Fonds d'épargne et de retraite des ingénieurs du Québec), announced today the following changes to its Funds.
Portfolio management change to the FÉRIQUE Equity Fund
Gestion FÉRIQUE will appoint Connor, Clark & Lunn Investment Management ("CC&L") as a portfolio adviser of the FÉRIQUE Equity Fund on or about June 15, 2015. CC&L will replace BlackRock Asset Management Canada Limited, one of the Fund's three current managers.
CC&L's approach consists of identifying opportunities resulting from variations between the results of its fundamental analysis and current market expectations. Comprehensive macro-economic and bottom-up analyses are used to adjust sector and capitalization positioning.
The FÉRIQUE Equity Fund structure is based on the multi-adviser approach which characterizes FÉRIQUE Funds. This approach aims to diversify risk by combining the strengths of portfolio advisers with complementary styles. The Fund's assets, which total nearly $555 million, will be equally divided between CC&L, Montrusco Bolton Investments Inc. and Hexavest Inc., with the latter two having participated in the Fund's management since 2007 and 2012, respectively.
Launched on August 16, 1974, the FÉRIQUE Equity Fund is one of the 216 funds with a more than 25-year history in a universe of 9,465 funds in Canada. The Fund's management expense ratio is 0.90%, and the Fund ranks in the industry least expensive 25% of funds (according to PALTrak survey, owned by Morningstar Research Inc., as of April 30, 2015).
In order to reflect this change, similar modifications will be made to the FÉRIQUE Moderate Balanced, FÉRIQUE Balanced and FÉRIQUE Balanced Growth Funds, which respectively invest 10%, 15% and 25% of their total assets in the FÉRIQUE Equity Fund.
Designation of units of FÉRIQUE Funds
Gestion FÉRIQUE plans to designate issued and outstanding units of each of the FÉRIQUE Funds (collectively, the "Funds") as Series A units of each of the Funds (the "Unit Designation") on or about July 1, 2015. Gestion FÉRIQUE will therefore have the opportunity to eventually create one or several new unit series in some of its Funds if needed.
The "Unit" Designation as "Series A units" only refers to the designation of said "units", and the rights, privileges and other attributes of "units" designated as "Series A units" will remain unchanged. Moreover, Unit Designation as "Series A units" will not entail any changes to the units beyond their designation from "units" to "Series A units". Essentially, the Unit Designation will not be a disposition for tax purposes, nor result in any capital gain or loss. The Unit Designation will not entail any changes to either the Funds' investment objectives or strategies, nor to the Funds' fee structures; the Funds remain free of additional fees when unitholders engage in transactions through Services d'investissement FÉRIQUE, the Principal distributor of the Funds in Québec.
About Connor, Clark & Lunn Investment Management
Vancouver-based Connor, Clark & Lunn Investment Management ("CC&L") was established in 1982 and has grown to be one of Canada's largest privately owned money management firms. The firm offers a diverse array of investment solutions including fixed income, equity (fundamental and quantitative), balanced and alternative investment strategies. As at March 31, 2015, assets under management totalled approximately $36 billion. CC&L is part of the Connor, Clark & Lunn Financial Group Ltd. ("CC&L Financial Group"), a multi-boutique asset management company that provides a broad range of public and private market investment services. The CC&L Financial Group and its affiliates are collectively responsible for the management of approximately $60 billion in assets.
About Gestion FÉRIQUE
Founded on October 12, 1999, Gestion FÉRIQUE (www.ferique.com) is the manager of the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. FÉRIQUE is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers, engineering graduates and their families. The firm offers 11 mutual funds diversified across all asset classes. Management of the Funds is entrusted to renowned investment firms, handpicked by Gestion FÉRIQUE based on their asset class expertise. FÉRIQUE Funds have more than $2 billion in assets under management and approximately 22,000 clients.
Note: FÉRIQUE is a trademark of Gestion FÉRIQUE and is used under license by its subsidiary, Services d'investissement FÉRIQUE. Gestion FÉRIQUE is an Investment Fund Manager and assumes management duties in relation to the FÉRIQUE Funds. Services d'investissement FÉRIQUE is a Mutual Fund Dealer and a Financial Planning Firm, as well as the Principal distributor of the FÉRIQUE Funds. There may be brokerage fees, trailing commissions, management fees and expenses associated with investment in the Funds. Please read the prospectus before investing. Mutual funds are not guaranteed, their values fluctuate frequently and past performance may not be repeated. FÉRIQUE Funds pay management fees to Gestion FÉRIQUE allowing it to assume the fees of the portfolio managers, the fees relating to the marketing or distribution of the FÉRIQUE Funds and the administration fees of the manager of the FÉRIQUE Funds. Management expense ratios vary from one year to another. Each of the FÉRIQUE Funds pays all of its own operating expenses. No commissions are payable by the unitholders for a subscription in the FÉRIQUE Funds if such subscription is made through Services d'investissement FÉRIQUE, the Principal distributor; brokerage fees could however be payable should the subscription be made through another broker.
SOURCE Gestion FÉRIQUE
For further information: Maude La Roche, Senior Consultant, Marketing and Communication, Gestion FÉRIQUE, 514-840-9206, ext. 540, [email protected]