MONTREAL, April 17, 2013 /CNW Telbec/ - In its capacity as Manager of FÉRIQUE Funds, Gestion FÉRIQUE announced today that asset management firm, Integra Capital Limited and its subadviser, Columbia Management Investment Advisers, LLC (jointly "Columbia Management"), will now take part in the management of the FÉRIQUE AMERICAN Fund. This change, to take effect on or about April 30, 2013, will lead to the termination of UBS Global Asset Management's mandate, which was involved in the management of the FÉRIQUE AMERICAN Fund since 2006.
The FÉRIQUE AMERICAN Fund is structured according to the FÉRIQUE Funds' unique multi-adviser approach, which aims to diversify risk by combining the synergies of portfolio advisers boasting complementary styles. As such, 65% of the Fund's assets, totalling approximately $204 million, will be managed by Columbia Management, with the remaining 35% managed by Aviva Investors Canada Inc. ("Aviva") and its subadviser, River Road Asset Management, LLC ("River Road").
Founded in 1894 and with over $300 billion in assets under management, Columbia Management is one of the United States' largest and oldest investment managers. The team to which this portfolio management mandate will be assigned is comprised of four seasoned managers drawing from the research provided by a group of analysts boasting an excellent reputation within the market.
This appointment is the result of a thorough analysis and research process seeking to optimize the FÉRIQUE AMERICAN Fund's risk/return profile. "The first thing we looked for was a portfolio adviser that favoured a 'core' approach, maintaining measured spreads compared to the benchmark index, both at the sector and securities level," said Louis Lizotte, Director of Investments at FÉRIQUE.
"Columbia has an impressive track record and stood out throughout both bull and bear markets, added Fabienne Lacoste, President and CEO of Gestion FÉRIQUE. Aviva is characterized by a more defensive and value-based management style. We are confident that this combination will enable us to achieve greater long-term investment consistency."
Launched in 1995, the FÉRIQUE AMERICAN Fund is one of 43 funds with over 15 years of activity in a universe of 469 American funds in Canada (according to the PALTrak Survey, owned by Morningstar Research Inc., as at February 28, 2013). The Fund's management expense ratio currently stands at 1.10%, thereby ranking it the industry's bottom quartile (the least expensive 25% range).
About Gestion FÉRIQUE
Founded on January 1, 2000, Gestion FÉRIQUE (www.ferique.com) is the manager of 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 10 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 approximately $1.7 billion in assets under management and more than 21,000 clients.
SOURCE: Gestion FÉRIQUE
For further information:
Manon Duhamel, Gestion FÉRIQUE, 514-840-9206, ext. 450, [email protected]