MONTREAL , June 10, 2014 /CNW Telbec/ - Gestion FÉRIQUE, as the manager of FÉRIQUE Funds, today announced a change to the FÉRIQUE European Fund, which will now be managed by Lazard Asset Management ( Canada ) Inc. This change, which will take effect on or about June 19, 2014 , will end the mandate of portfolio advisor UBS Global Asset Management ( Canada ) Inc., which has managed the Fund since September 2005 .
Due to this change, similar amendments will also be made to FÉRIQUE Balanced Fund and FÉRIQUE Balanced Growth Fund, which invest, respectively, 10% and 15% of their total assets in FÉRIQUE European Fund.
To provide superior long-term returns, the new manager uses a diversified management style, selecting securities of companies that have a high and sustainable long-term return on investment, combined with an valuation in relation to securities of other companies. Lazard has a broad global analyst platform and has demonstrated its ability to prudently invest in small- and mid-cap stocks at an acceptable risk level.
Launched on June 23, 2003 , FÉRIQUE European Fund has $137 million in assets under management (as of April 30, 2014 ). The Fund's management expense ratio was reduced from 1.20% to 1.15% on May 1, 2014 , ranking below the industry's least expensive 25th percentile of funds (according to PALTrak survey, owned by Morningstar Research Inc., as of April 30, 2014 ).
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 11 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 over $2 billion in assets under management and almost 22,000 clients.
Note: There may be commissions, trailing commissions, management fees and expenses associated with investment in the Funds. Management expense ratios vary from one year to another. Please read the prospectus before investing. Mutual funds are not guaranteed, their values fluctuate frequently and past performance may not be repeated. FÉRIQUE Funds are distributed by Services d'investissement FÉRIQUE, as Principal distributor. The FÉRIQUE Funds are currently restricted to Quebec and Ontario residents only except for the FÉRIQUE Balanced Growth Fund, which is currently restricted to Quebec residents only. The FÉRIQUE Funds are not suitable for all investor types. Please contact a Services d'investissement FÉRIQUE advisor.
SOURCE Gestion FÉRIQUE
- Mutual Funds
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