MONTREAL, March 7 2007 – Standard Life Canada announced today the addition of Addenda Capital inc. to its Quality & Choice Investment Program, which is the investment platform for its Group Savings and Retirement business. One of Addenda’s successful Canadian Bond strategies is offered as a new investment option in the Quality & Choice program.
Addenda is a publicly traded (TSX- ADV), Montreal-based fixed income manager. By concentrating exclusively on fixed income investments it is consistently able to add value for its clients. Over the last several years its growth has been a testament to the success of its investment process. Addenda is currently ranked tenth in a survey of Canada’s top 40 pension fund managers(1). According to Mrs. Nathalie Simard, Vice-President, Marketing & Communications at Addenda “we are excited about the opportunity to partner with Standard Life and make our investment expertise available to this wide pool of retirement programs.”
Brian Cyr, Management Associate, Quality & Choice Investment Program, notes “the addition of Addenda to our lineup creates additional investment opportunities within the Fixed Income selection for plan sponsors and their members while at the same time adding real value to our program”. This is in line with the philosophy of the Quality & Choice Investment Program, which is to select managers based on their consistent long-term results, the quality of the organization and suitability as an investment option for members of group retirement and savings programs.
Standard Life and Addenda Capital inc. are respected leaders in the pension plan industry with proven track records in the Canadian pensions market. “Partnering with an industry leader like Addenda provides us with a greater opportunity to bring value to plan sponsors by helping them build appealing and successful retirement programs.” added Anthony Cardone, Senior Vice-President, Group Savings and Retirement at Standard Life Canada. The Quality & Choice Investment Program now consists of 15 money managers offering over 85 unique investment options to members of Standard Life’s group savings and retirement programs.
About Standard Life
Standard Life Canada is a major investment, retirement and financial protection company. Along with its affiliated companies in Canada, as of June 30, 2006, The Standard Life Assurance Company of Canada had $34.5 billion in assets under management and offered a wide range of financial products and services to over 1.31 million individuals, including group insurance and pension plan members. Total premium income and deposits reached $5.2 billion in 2005. Standard Life has been a prominent player in the Canadian marketplace since 1833.
The Standard Life group is a leading provider of financial products and services, with approximately 7 million customers worldwide. As of June 30, 2006, its investment management business had $254 billion in assets under management. Founded in Edinburgh (Scotland) in 1825, The Standard Life Assurance Company became a mutual life insurance company in 1925. Following overwhelming support by voting members and subsequent approval from the Court of Session in Scotland, the Company demutualized and a new public company – Standard Life plc – was born. Standard Life plc was listed on the London Stock Exchange (LSE), under the ticker symbol or code SL., on July 10, 2006. (www.standardlife.com)
About Addenda Capital
Founded in 1996, Addenda Capital inc. specializes in the active management of bond portfolios for an institutional clientele. Over the years, Addenda has established one of the industry’s premier fixed-income security management teams. A total of eighteen investment professionals track the markets, manage portfolios and service its valued clients. Assets under management exceed $27 billion and Addenda’s historical returns rank it among the Canadian investment industry’s leading performers. (www.addenda-capital.com)Tags: Standard Life