Stone Investment Group Ltd. (SIGL) has completed its acquisition of the management contracts of several retail mutual funds of Marquest Asset Management Inc., the independent wealth-management company announced last week.
Both companies are based in Toronto
The transaction closed on Dec. 6, subsequent to the receipt of regulatory and securityholder approvals, the company says in a news release.
The acquired funds are:
- Marquest Monthly Pay Fund
- Marquest American Dividend Fund
- Marquest Covered Call Canadian Banks Plus Fund
- Marquest Global Balanced Fund
- Marquest Canadian Resource Fund
- Marquest Small Companies Fund
- Marquest Canadian Bond Fund
- Marquest Money Market Fund
- Marquest Monthly Pay Fund (Corporate Class)
- Marquest American Dividend Growth Fund (Corporate Class)
- Marquest Covered Call Canadian Banks Plus Fund (Corporate Class)
- Marquest Canadian Resource Fund (Corporate Class)
- Marquest Short Term Income Fund (Corporate Class)
“Stone could not be more excited about this acquisition because many of these funds are an excellent complement to our pure total return and pure growth mandates,” says SIGL founder and CEO Richard Stone, in a statement. “Through our firm’s disciplined investment process, we can create additional value for investors and advisors by expanding Stone’s fund family within a framework that aligns with our values and expertise.”
Former Marquest unitholders and advisors with client holdings are encouraged to contact Stone for more information.
SIGL is the parent company of Stone Asset Management Ltd.