Seamark Asset Management Ltd. said Tuesday that its wrap program partners have completed reviews of Seamark’s investment services.

The reviews were triggered by the departure of one wrap program partner earlier in April.

As a result of the reviews, only one additional partner has indicated that it will discontinue its use of the Halifax-based manager’s investment services, effective June 30, Seamark says.

Seamark says the two departing programs combined represent approximately $0.4 billion of its $2.4 billion in assets under management as of March 31, 2009.

It is expected that wrap program partners will continue to assess their on-going use of Seamark’s services, but no additional program departures are anticipated at this time, Seamark says.

Seamark’s first quarter 2009 financial results and outlook are scheduled for release on April 30.

IE