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Socially Responsible Investing 2009
Privileged and confidential, not for further distribution
Benefits and Pensions Monitor makes no representations or warranties as to the availability, accuracy or completeness of any information contained herein and expressly disclaims any obligation to update said information. Benefits and Pensions Monitor further assumes no liability or responsibility for any errors or omissions in the content of this report.
MONEY MANAGERS
ABERDEEN ASSET MANAGEMENT Renee Arnold, Senior Manager, Institutional Business Development - Canada; 1735 Market St., Philadelphia, PA 19103 PH: 219-922-0600 Fax: 219-922-0606 Web: www.aberdeen-asset.com SRI Products/Services: EAFE Plus, Global Equity Managed Since: 1995 Canadian Clients: 3 SRI Philosophy/Style: Focuses on absolute returns and invests in companies with sound fundamentals that pass the dual hurdles of quality and price. Offers its services on a segregated or commingled basis via its series of Canadian registered institutional pooled funds.
ACUITY INVESTMENT MANAGEMENT INC. Michael Peck, Senior Vice-president, Institutional; 40 King St. W., Scotia Plaza, 55th Floor, Toronto, ON M5H 3Y2 PH: 416-867-2559 Fax: 416-366-2568 Web: www.acuityfunds.com SRI Products/Services: Clean Environment Equity Fund, Pooled Social Values Canadian Equity Fund, Social Values Canadian Equity Fund, Social Values Global Equity Fund, Social Values Balanced Fund Managed Since: 1991 Canadian Clients: 1 SRI Philosophy/Style: Purchases reasonably valued securities with appealing growth characteristics to hold over the mid- to long-term. Prefers to invest in companies with better-than-average balance sheets versus sector peers.
ADDENDA CAPITAL INC. Joe DiMassimo, Senior Vice-president, Sales & Client Service; 36 Toronto St., Ste. 1150, Toronto, ON M5C 2C5 PH: 416-943-1010 Fax: 416-955-0808 Web: www.addenda-capital.com SRI Products/Services: Fixed Income, Domestic Balanced, Canadian Equity, U.S. Equity Managed Since: 1992 Canadian Clients: 2 SRI Philosophy/Style: Manages assets using established styles, then applies SRI screens with a zero tolerance approach to industries excluded by the mandate. A ‘best of sector’ approach is applied to industries identified for targeted investing.
BEUTEL, GOODMAN & COMPANY LTD. William W. Ashby, President; 20 Eglinton Ave. W., Ste. 2000, Toronto, ON M4R 1K8 PH: 416-485-1010 Fax: 416-485-1799 Web: www.beutelgoodman.com SRI Philosophy/Style: Delivers long-term investment results through the consistent application of a fundamental, bottom-up value philosophy, supported by internal research capability.
BLACKROCK Alex Popplewell, Managing Director; 33 King William St., London, UK EC4R 9AS PH: 020 7743 2659 Fax: 020 7743 1000 Web: www.blackrock.com SRI Products/Services: Incorporates SRI restrictions within client portfolios. SRI Philosophy/Style: Core philosophy has been grounded in the belief that experienced investment professionals using a disciplined process and sophisticated analytical tools can consistently add value to client portfolios. With this as a framework, the firm has assembled teams of investment professionals with expertise in global capital markets.
CIBC GLOBAL ASSET MANAGEMENT INC. Michel Jalbert, Vice-president, Head of Institutional Business Development & Marketing; 1000 de la Gauchetiere W., Ste. 3200, Montreal, QC H3B 4W5 PH: 514-876-6907 Fax: 514-875-9364 Web: www.cibcam.com SRI Products/Services: Canadian Equity Managed Since: 1986 Canadian Clients: 10 SRI Philosophy/Style: Companies whose shares are mispriced relative to their long-term outlook offer opportunities to add value – Style – Core with Value Tilt; searches for firms that rank highly for addressing social, ethical, and environmental concerns and with corporate practices (using Michael Jantzi Research Associates Inc.).
CORDIANT CAPITAL INC. David G. Creighton, President & CEO; Ste. 2400 - 1010 Sherbrooke St. W., Montreal, QC H3A 2R7 PH: 514-286-1142 Fax: 514-286-4203 Web: www.cordiantcap.com SRI Products/Services: International Finance Participation Trust (2001), International Finance Participation Trust (2004), Canada Investment Fund for Africa Managed Since: 1999 Canadian Clients: 4 SRI Philosophy/Style: Makes private equity and private debt investments in emerging markets and considers ESG screening to be an important tool for identifying well-run businesses improving risk management, and building a robust portfolio of investments.
DEXIA ASSET MANAGEMENT Christophe Vandewiele, Head of Dexia Asset Management Canadian Representative Office; 155 Wellington St. W., 6th Fl., Toronto, ON M5V 3L3 PH: 416-974-9055 Fax: 416-955-6226 Web: www.dexia-am.com SRI Products/Services: Range of SRI funds combines the different sustainability analysis approaches in order to optimally meet the challenges of sustainable development. This guarantees that the funds invest only in companies that are among the most sustainable and responsible within their sector. In addition to the firm’s range of more than 20 funds in all asset classes, the firm also manages many mandates and dedicated funds for institutional investors. Managed Since: 1996 SRI Philosophy/Style: SRI at the firm is an investment strategy that systematically takes environmental, social, and governance (ESG) criteria into account when making investment decisions. The firm is convinced that SRI offers two complementary objectives to investors – to generate a competitive performance and to advocate responsible behaviour towards sustainable development.
FIERA CAPITAL INC. Sam Reda, Vice-chairman; 1501 McGill College Ave., Ste. 800, Montreal, QC H3A 3M8 PH: 514-954-3300 Fax: 514-954-3325 Web: www.fieracapital.com SRI Products/Services: Canadian Equity Value, U.S. Equity, Active Fixed Income Universe Managed Since: 2003 Canadian Clients: 5 SRI Philosophy/Style: Strategies incorporate investors’ social and environmental concerns into the investment processes. Exercises its proxy voting rights in an effort to improve management of the companies held and to promote the social values. The firm is a signatory of the UNPRI.
FORTIS INVESTMENT MANAGEMENT CANADA LTD. Christine Girvan, CEO; Simon Segall, Vice-president, Institutional Sales & Client Service; 225 King St. W., 9th Floor, Box 278, Metro Centre, Toronto, ON M5V 3M2 PH: 647-826-4403 or 647-826-4404 Fax: 647-826-4429 Web: www.asset.fortis.com SRI Products/Services: FLF Equity World, FLF Equity Europe, FLF Bond Euro, Prime Money Euro, FLF Strategy Stability, FLF Strategy Balanced, FLF Strategy Growth, FLF Green Future, FLF Green Tigers Managed Since: 2001 SRI Philosophy/Style: Focus on companies that solve sustainability problems, while aiming to outperform indices. Sustainability radar provides a framework for identifying firms at risk from the sustainability agenda, and those that build a competitive advantage by responding to challenges.
GENUS CAPITAL MANAGEMENT Christina McLeod, Portfolio Manager, Partner;
6th Floor – 900 West Hastings St., Vancouver, BC V6C 1E5 PH: 604-683-4554 Fax: 604-683-7294 Web: www.genuscap.com
SRI Products/Services: Canadian Equity, Global Equity, Bonds under banner of Biosphere Plus portfolios. These portfolios were launched to meet the investment needs of the Clayoquot Biosphere Trust and prospective clients who share similar ideals.
Available through both pooled fund and segregated accounts for those clients who require customized screens to meet their unique requirements. Managed Since: 1994
SRI Philosophy/Style: Builds portfolios with the goal of earning consistent risk-adjusted excess returns relative to a benchmark in all market and style cycles using three core elements – style-diversified approach; process that removes emotion and applies discipline; strong attention to risk management. Screened portfolios use the same investment approach as traditional mandates, but also formally integrate environmental and social factors to screen out companies that do not meet criteria. Jantzi Research provides social and environmental ratings on companies for the screened portfolios.
GUARDIAN ETHICAL MANAGEMENT INC. John Clancy, Managing Director; 3100 - 199 Bay St., Box 201, Commerce Court W., Toronto, ON M5L 1E8 PH: 416-350-6880 Fax: 416-947-8003 Web: gemportfolios.com SRI Products/Services: Canadian Equity Pool, Global Equity Pool, Fixed Income Pool, Balanced Pool Managed Since: 2005 Canadian Clients: 1 SRI Philosophy/Style: Provides an integrated sustainable investing solution that combines prudent investment management with a proprietary sustainability discipline. Equity style is GARP, while income portfolios are diversified with an emphasis on risk management and preservation of capital.
GWL INVESTMENT MANAGEMENT LTD. Patrick J. Clarke, Vice-president, Investment Counselling; 100 Osborne St. N., Winnipeg, MB R3C 3A5 PH: 204-946-8701 Fax: 204-946-8818 Web: www.gwlim.ca SRI Products/Services: Ethics Fund 9.02G, Canadian Equity Index Fund 16.01G, Canadian Bond Fund 16.02G Managed Since: 2000 SRI Philosophy/Style: SR Equity Funds - Invest in shares of publicly-traded Canadian companies that conduct business operations in a socially responsible manner according to ‘ethical’ screens and show strong growth prospects with some exposure to foreign companies that meet these criteria – Top-down, Bottom-up style; SR Bond Fund – Invests in Canadian federal and provincial government debt obligations and an ‘ethical’ screened listing of medium- to high-quality corporate debt securities.
HSBC GLOBAL ASSET MANAGEMENT (CANADA) LIMITED Francis Chartier, Vice-president, Institutional Investments; Ste. 300 - 2001 McGill College, Montreal, QC H3A 1G1 PH: 514-286-4559 Web: www.assetmanagement.hsbc.com SRI Products/Services: Global Equity; Global Thematic Equity; Regional Equity; Single Country Equity; Balanced Mandate; Global Fixed Income; Regional Fixed Income; Quantitative Single Country, Regional, and Global Strategies. SRI investment teams are also able to design customized solutions, responding to any number of specific needs and constraints a client may have including alignment with the corporate mission, influence from beneficiaries and stakeholders, reduction of investment risk, legislative environment, employee saving plans. Managed Since: 1994 SRI Philosophy/Style: Investment philosophy embodies the commitment with which it develops innovative products and customized solutions. Drawing on the global presence of the HSBC Group, it benefits from an understanding of sustainable development issues and is able to offer its clients new investment opportunities all over the world and in line with SRI values.
INHANCE INVESTMENT MANAGEMENT Kerry Ho, CEO; 1200 - 900 West Hastings, Vancouver, BC V6C 1E5 PH: 604-975-3300 or 866-646-5850 Fax: 604-975-3319 Web: www.inhance.ca SRI Products/Services: Balance Fund, Canadian Equity Fund, Global Leaders Fund, Monthly Income Fund, Bond Fund, Money Market Fund – All securities offer Class A, F, and O. Managed Since: 2001 Canadian Clients: 2 SRI Philosophy/Style: Integrated in-house investment team finds companies that are leaders in progressive practices. Through its investment process, incorporating environmental, social, and governance analysis with traditional financial analysis and portfolio construction, it endeavours to provide returns through an extra level of risk mitigation and added alpha.
LEGG MASON CANADA INC. David Gregoire, Managing Director, Head of Distribution; 220 Bay St., 4th Floor, Toronto, ON M5J 2W4 PH: 416-594-2979 Web: www.leggmasoncanada.com SRI Products/Services: Global Currents Investment Management – Global Value Equity, International Value Equity, ValueCore International Equity, International Value Equity Labour Friendly; Clear Bridge Advisors; Socially Aware Investment Program; Brandywine Global Investment Management – Large Cap Core Equity, Large Cap Value Equity Managed For: More than 10 years SRI Philosophy/Style: Through its affiliates, it offers a range of strategies with the focus on socially aware investments. The portfolios cover multiple styles and market capitalizations in International Equity, Global Equity, and U.S. Equity.
MCLEAN BUDDEN LTD. Alan Daxner, Executive Vice-president; 145 King St. W., Ste. 2525, Toronto, ON M5H 1J8 PH: 416-361-7264 Fax: 416-862-0167 Web: www.mcleanbudden.com SRI Products/Services: Canadian Equity (Pooled Fund), Fixed Income (Pooled Fund), Balanced (Pooled Fund), Global Equity (Pooled Fund) Managed Since: 2000 Canadian Clients: 6 SRI Philosophy/ Style: Builds portfolios based on its established investment expertise. SRI portfolios screen for alcohol, tobacco, gaming, armaments, pornography, and adherence to local employment standards. Screening is based on both internal and external research.
NATCAN INVESTMENT MANAGEMENT Grace Di Meo, Vice-president, Distribution; 1100 University St., 4th Floor, Montreal, QC H3B 2G7 PH: 514-871-7102 Fax: 514-871-7476 Web: www.natcan.com SRI Products/Services: Social Value Canadian Equity Fund, ESG Corporate Bond Fund Managed Since: 2004 (Although it created the Social Value Canadian Equity Fund in 2004, it has offered Responsible Investment services since 1993). Canadian Clients: 66 Institutional Clients (Religious Communities) SRI Philosophy/Style: Approach consists of buying out-of-favour stocks with attractive profit-enhancing catalysts to generate value added while limiting downside risk. Fund’s objective is to exceed the S&P/TSX Index in both financial and ESG performance while avoiding companies involved in controversial business activities.
PICTET ASSET MANAGEMENT INC. John Maratta, Senior Vice-president; 1000 de la Gauchetiere W., Ste. 3100, Montreal, QC H3B 4W5 PH: 514-288-0253 Fax: 514-288-5473 Web: www.pictet.com SRI Products/Services: SRI strategies currently marketed in North America – Clean Energy Fund, Water Fund (Other SRI products are available upon request). Managed Since: 1999 Canadian Clients: 2 sub-advised mandates SRI Philosophy/Style: Clean Energy product aims to invest worldwide in shares of companies that contribute to, and profit from, the world’s transition to less carbon-intensive energy. The Water product invests worldwide in shares of companies focused on the water related sector.
RBC GLOBAL ASSET MANAGEMENT* Jason Milne, Corporate Governance Analyst; 20th Floor, 200 Burrard St., Vancouver, BC V6C 3N5 PH: 604-408-6000 Fax: 604-685-5712 Web: www.phn.com SRI Products/Services: Pooled Investment Services - Community Values Balanced Fund, Community Values Bond Fund, Community Values Canadian Equity Fund, Community Value Global Equity Fund; Segregated Investment Services Managed Since: Early 1990s Canadian Clients: 3 SRI Philosophy/Style: Community Values Funds are modeled after the firm’s ‘core’ funds and managed according to the Community Values Investment Principles, which are applied to a company’s social and environmental record.
*Phillips, Hager & North is the Canadian institutional investment arm of RBC Global Asset Management
STANDARD LIFE INVESTMENTS INC. Jay Waters, Vice-president, Central Canada; 121 King St. W., Ste. 810, Toronto, ON M5H 3T9 PH: 416-367-2049 Fax: 416-367-1329 Web: www.sli.ca SRI Products/Services: Offers separate accounts according to screening criteria specified by the client. Managed Since: 1999
WELLINGTON MANAGEMENT COMPANY, LLP Susan M. Pozer, Vice-president & Director, Canada, Global Relationship Group; 75 State St., Boston, MA 02109 PH: 617-790-7441 Fax: 617-263-4100 Web: www.wellington.com SRI Products/Services: SRI guidelines are client directed, based on U.S., Global, International Equity, and Fixed Income products. Managed Since: 1994 Canadian Clients: 1 SRI Philosophy/Style: Assists clients in the development of investment ‘screens’ or complete investment styles that seek to achieve specified investment goals while complying with the restrictions.
SERVICES
JANTZI RESEARCH INC. Sarah Smith, Sales & Marketing Representative; 300-215 Spadina Ave., Toronto, ON M5C 3E1 PH: 416-861-0403 Fax: 416-861-0183 Web: www.jantziresearch.com
MERCER Jordan Berger, Principal, Canadian Head of Responsible Investment; 161 Bay St., Toronto, ON M5J 2S5 PH: 416-868-2830 Fax: 416-868-2131 Web: www.mercer.com/ri SRI Products/Services: Educate investors, identify RI opportunities for plans, integrate RI into investment policies, develop co-ordinated approach to active ownership, integrate ESG factors into investment decision-making, build intellectual capital, develop principles for responsible investment Managed Since: 2004 Canadian Clients: 5 to 10 at any time (project & retainer) SRI Philosophy/Style: Provides consulting services to clients who wish to consider environmental, social, and corporate governance (ESG) factors within investment decision-making and to clients seeking to incorporate ethical considerations or achieve social and environmental objectives alongside financial objectives.
SOCIAL INVESTMENT ORGANIZATION Eugene Ellmen, Executive Director; 184 Pearl St., 2nd Floor, Toronto, ON M5H 1L5 PH: 416-461-6042 x111 Fax: 416-461-2481 Web: www.socialinvestment.ca SRI Products/Services: An association for socially responsible investment in Canada and offers networking, communications, training, and public policy services to the SRI industry. Managed Since: 1989 SRI Philosophy/Style: Mandate is to advance the concept and practice of socially responsible investment in Canada.
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