Published on: May 14, 2024
Montreal, May 14th, 2024 - Today, at the 2024 Sustainable Finance Summit, the Montreal-based Investi Fund announces the appointment of the first three managers who will handle the fixed income securities portfolio. The Fund’s investment committee has chosen Addenda Capital, a manager eager to contribute to the growth of Quebec’s finance sector by evolving their practices and driving innovation in sustainable finance.
“Today's announcement is part of Innocap's commitment to play a catalytic role in enabling institutional investors to invest in the energy transition and the fight against climate change. Our teams and committee members have worked hard to bring Investi into being and to move it forward. It's a long-term project, part of a long-term strategy for both Innocap and the entire Montreal ecosystem” said François Rivard, CEO, Innocap.
For sustainable and innovative strategies in Quebec
Among the dozens of applications received, Addenda Capital stood out due to its demonstration of financial performance and the robustness of its ESG strategies. The chosen firms aim to raise their practice standards and make Montreal a centre of excellence in sustainable finance. The awarding of mandates is contingent upon positive due diligence outcomes, the negotiation of management contracts, and the growth of the Fund.
"Addenda Capital is honoured to support Investi in its mission by becoming one of its Fixed Income asset managers. Addenda has been active in impact investing for a decade, and currently manages $6 billion worth of these securities. We've been integrating themes such as climate change, community development, and more recently, water into our impact strategies. Our approach to sustainable investing includes the creation of innovative impact-based investment solutions and seeks to create both market-equivalent financial returns, while intentionally advocating positive and measurable social and environmental outcomes. Furthering our leadership, in the spring of 2023, Addenda became the first portfolio manager in the world to adopt the CFA Institute's Global ESG Disclosure Standards for Investment Products as part of an impact strategy " declared Roger J. Beauchemin, President and Chief Executive Officer, Addenda Capital.
An innovation lab for sustainable finance
The Investi Fund also fosters the development of innovative and sustainable investment strategies by creating a safe space for discussions where investors can exchange ideas on the challenges faced by the financial sector and the solutions to address them. In this respect, Investi committee members will examine a current issue of particular relevance in the Canadian context - the investments associated with the energy transition, fossil fuel extraction, distribution and storage. Industry stakeholders, a Canadian pioneer in sustainable finance, and prominent Canadian environmental organizations will support the committees in this analysis.
$300 Million pooled for the benefit of Quebec’s sustainable finance ecosystem
A year after its inception, the $300 million investment fund dedicated to enhancing Quebec’s sustainable finance ecosystem continues to build momentum. Initially, it has helped spark and grow ESG investment strategies and sustainable finance by appointing its first two asset managers in February 2024. Launched by Innocap and Finance Montreal, the Investi Fund is supported by 10 leading Quebec financial organizations – Banque Nationale Investissements, Bâtirente, Beneva, CDPQ, Mouvement Desjardins, Fondaction, Fonds de solidarité FTQ, Fondation Familiale Trottier, Optimum Groupe financier, and Samara Family Office – aiming to make sustainable finance a driving force in its outreach. Innocap handles the daily management of Investi, while being responsible for distribution to institutional investors and ensuring a rigorous institutional framework for due diligence, risk management and ongoing monitoring.
About Addenda Capital
With more than $37 billion in assets under management, Addenda Capital is recognized as a leader in sustainable investing. From climate transition to impact investing to traditional strategies, the Firm’s multi-asset solutions seek to provide enhanced returns for its institutional and private wealth clientele. Co-owned by The Co-operators Group, Addenda employs over 179 people in its offices in Toronto, Guelph and Regina, with its head office in Montreal. The firm is a signatory of the Net Zero Asset Managers initiative, the United Nations’ Principles for Responsible Investment (UN PRI) and its Montreal Carbon Pledge and is an Investor Member of the Green Bond Principles. In Spring 2023, Addenda became the first portfolio management firm in the world to adopt the CFA Institute’s Global ESG Disclosure Standard for its impact investment strategy.
MEDIA CONTACT - Addenda Capital
Mylène Loiselle
Senior Director, Marketing & Communication
514-962-8097
[email protected]