MONTREAL,
June 27, 2017 /PRNewswire/ --
Addenda Capital Inc. and SEI Trust Company
today announced a partnership to launch a collective investment
trust (CIT) fund in the United States. The Montréal-based,
SEC-registered investment management firm with more than
USD$20 billion in assets under management will act as an
advisor for the CIT.
The fund was created by the SEI Trust Company, a subsidiary of
SEI, a leading supplier of customized operating infrastructure and
services to investment organizations worldwide. Addenda Capital
chose to work with SEI in order to cater to investors of all
sizes.
Addenda Capital is a strong proponent of sustainable investment.
In addition to promoting sustainable financial markets, the Company
performs deep fundamental research which integrates ESG
(environmental, social and governance) factors into its investment
processes in an effort to deliver consistently superior long-term
returns while maintaining a low turnover.
"Building on our success in Canada, we want to intensify our business
development activities in the United
States," said Roger
Beauchemin, President and Chief Executive Officer of Addenda
Capital. "Our International Equity strategy has performed well
above industry average and we are confident that we can deliver
superior results to investors thanks to our 20+ years of
experience, our innovative approach and the CIT's low-cost
structure. We now have dedicated resources to build relationships
with institutional investors and consultants across the U.S."
CITs: Flexible, Efficient and Effectively-Priced
CITs, also known as collective investment funds (CIFs), are
pooled funds operated by a bank or trust company. They are
available to qualified retirement plans, such as 401(k) plans and
other retirement and employee retirement benefit plans. Economies
of scale allow for generally lower marketing, overhead and no Board
of Directors or SEC filing expenses. Thus, investors benefit from
enhanced profits. Unlike mutual funds, collective trusts are
regulated by either the Office of the Comptroller of the Currency
(OCC) or a state banking authority or agency.
A pioneer in the CIT arena, the SEI Trust Company has
successfully partnered with CIT advisors for more than 25 years. It
currently provides services to more than 170 CITs representing
$45 billion in assets under
management, making it one of the leading providers of CITs.
"Addenda Capital's expertise with its International Equity
Strategy coupled with SEI's scalable, flexible infrastructure is an
appealing combination for investors and consultants," said
John Alshefski, Senior Vice President and
Managing Director of SEI's Investment Manager Services
division.
About Addenda Capital
Addenda Capital is a solution-driven privately-owned
investment management firm with more than USD$20 billion in
assets under management. The Firm offers a broad range of
strategies that can be customized to meet the evolving needs of its
clients, which include institutional clients such as pension funds,
corporations, insurance companies and not-for-profit organizations,
as well as high net worth clients. Addenda Capital aims to add
value through deep fundamental research, active management,
innovation, discipline and integrity. It prides itself on
exceptional client relationships built on open and transparent
communications. Its approach to sustainable investment focuses on
integrating environmental, social and governance issues into all of
its investment processes to deliver higher-quality portfolios.
Headquartered in Montréal (Québec), Canada, Addenda Capital has offices in
Toronto, Guelph and Regina. It is co-owned by
Co-operators Financial Services, a subsidiary of Canadian insurance
co-operative The Co-operators Group Limited, by labour-sponsored
firm Fonds de Solidarité FTQ, and by Management
Shareholders. Addenda Capital is a Sustaining Member of the
Responsible Investment Association (RIA), an Investor Member of the
Green Bond Principles, and a signatory of the United Nations'
Principles for Responsible Investment (UN
PRI) and of the Montréal Carbon Pledge. Thanks to
exceptional employee engagement, Addenda Capital was awarded
Aon Hewitt's highest recognition in
its 2017 Canadian Small and Medium Enterprise ranking as a
Platinum-level Employer of Choice. To learn more, visit
www.addendacapital.com.
About SEI
SEI (NASDAQ:SEIC) is a leading global provider of investment
processing, investment management, and investment operations
solutions that help corporations, financial institutions, financial
advisors, and ultra-high-net-worth families create and manage
wealth. As of March 31, 2017, through
its subsidiaries and partnerships in which the company has a
significant interest, SEI manages, advises or administers
$779 billion in hedge, private
equity, mutual fund and pooled or separately managed assets,
including $297 billion in assets
under management and $478 billion in
client assets under administration. For more information, visit
seic.com.
About SEI's Investment Manager Services Division
SEI's Investment Manager Services supplies investment
organizations of all types with advanced operating infrastructure
they must have to evolve and compete in a landscape of escalating
business challenges. SEI's award-winning global operating
platform provides asset managers with customized and integrated
capabilities across a wide range of investment vehicles, strategies
and jurisdictions. Our services enable investment
managers to gain scale and efficiency, keep pace with marketplace
demands, and run their businesses more strategically. SEI
presently partners with more than 300 traditional, alternative and
sovereign wealth managers representing over $15.5 trillion in assets, including 35 of the top
100 managers worldwide. For more information, visit
seic.com/ims.
About SEI Trust Company
SEI Trust Company (the "Trustee") serves as the
Trustee of the Fund and maintains ultimate fiduciary authority over
the management of, and the investments made in, the Fund. The
Trustee is a trust company organized under the laws of the
Commonwealth of Pennsylvania and
is a wholly owned subsidiary of
SEI Investments Company (SEI).
Contact Information
Charles Lemay
Head of Business Development –
United States
Addenda Capital
T. +1 514-908-7896
Toll-free: 1-866-855-7373
c.lemay@addenda-capital.com
Michel Jalbert, CFA, FCIA,
FSA
Senior Vice-President, Business Development & Client
Partnerships
T. 514-908-7910
Toll-free: 1-866-855-7373
m.jalbert@addenda-capital.com
www.addendacapital.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/addenda-capital-launches-collective-investment-trust-to-capture-us-market-300480251.html
SOURCE Addenda Capital Inc.