QUEBEC CITY, Dec. 17, 2013 /CNW Telbec/ - The Universitas Foundation of Canada (hereinafter "the Foundation") announces, in the context of revising its investment policy, that Addenda Capital Inc. is withdrawn from its current team of experienced portfolio managers. This decision is effective January 1, 2014 with a transitional period for the transfer of assets extending from January 1 to March 31, 2014 inclusive.
In the context of optimizing and revising the investment strategies, this decision will result in a saving in portfolio management fees, without compromising risk diversification with regard to asset management and to the subscribers' accumulated income.
About the Universitas Foundation of Canada
The Universitas Foundation is a non-profit organization constituted in 1964 under the Companies Act, Part III (Quebec). The organization is a leading promoter of scholarship plans qualified to be registered as Registered Education Savings Plans (RESPs) in Canada. The mission of the Foundation is to place its expertise and sense of commitment at the service of young Canadians by offering its RESPs to their parents and relatives. Every effort is made to provide students with the highest possible Educational Assistance Payments (EAPs) on the market, giving them the means to achieve their dreams! Active in the provinces of Quebec and New Brunswick, the Universitas Foundation has over $930 million in assets under management and has paid out, since 1964, more than $500 million in EAPs and returned savings.
Image with caption: "UNIVERSITAS TRUST FUNDS (CNW Group/UNIVERSITAS TRUST FUNDS)". Image available at: http://photos.newswire.ca/images/download/20131217_C5183_PHOTO_EN_35088.jpg
SOURCE: UNIVERSITAS TRUST FUNDS
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