Cartier Mutual Funds Inc. announced today that it has hired Holdun Investment Management Inc. as one of the three portfolio management firms for Cartier U.S. Equity Fund, replacing Alain, Guilmette & Associates Inc. effective March 1, 2002.

Holdun Investment Management has a similar style to that of the firm it is replacing, managing a focused portfolio of 25 large-cap U.S. growth stocks. Research is bottom up, and the firm’s unique and disciplined investment methodology focuses on earnings stability and return-on-equity. The portfolio managers are Constantine Kostarakis and Stuart Dunn, who have worked together since the late 1980s. They co-founded the firm in 1998 to provide discretionary investment management services to individuals, foundations, endowments and a select number of institutions.


“As with all our portfolio managers, Cartier’s selection of Holdun Investment Management followed a broad search of mutual fund and institutional portfolio managers in Canada and the United States, conducted by the Asset Management Consulting Group at Towers Perrin,” says Marc St-Pierre, president and CEO of Cartier Mutual Funds. “Holdun meets our criteria — they have a well-defined style that complements the Cartier U.S. Equity Fund’s value and S&P 500 Index managers, and they have a history of consistently beating their benchmark by a wide margin.”

“Holdun’s ability to add significant value year-after-year made them a clear choice, and we believe the firm will enhance the performance of Cartier U.S. Equity Fund, which already has a four-star ranking from the research firm Morningstar.”