(May 19, 2004) A group of former Assante executives announced today the formation of a new investment management firm. Tetrem Capital Partners, led by Assante Chief Investment Officer Daniel Bubis, will act as a sub-advisor to Assante.
“This is a great opportunity,” Bubis said. “I’m excited to be part of an independent firm focused on investment performance. And I’m excited to be part of a great team of experienced people who are committed to creating wealth for our clients.”
The Tetrem team includes three other senior Assante executives: vice presidents Daniel Friedman and Murray Schachter, and Sam Pellettieri, director of quantitative research.
Subject to regulatory approval, Winnipeg-based Tetrem will manage more than $1.5 billion in assets as a subadviser to Assante’s Optima Strategy Canadian Equity Value Pool, Canadian Equity Segregated Accounts, US Equity Segregated Accounts and Global Voyager North American Equity Value Pool funds.
“Our initial focus will be to serve the high-net-worth and retail markets through Assante Advisors, who I believe are industry leaders in terms of client service,” Bubis said. “In my new role, I look forward to continuing the great relationship I have established with Assante Advisors.”
“We are very pleased to continue working with Danny and his team,” said Assante CEO Joe Canavan. “These are the same engagements that Danny managed for Assante for over 10 years. He and his team have done an excellent job for our clients and advisors.”
Bubis says that in addition to its partnership with Assante Tetrem, it will also look for new money management opportunities for groups and institutional clients such as pension funds, trusts and foundations.
Submitted by Doug Watt, Advisor.ca, doug.watt@advisor.rogers.com
(19.05.04)
