Valorem Investment Funds has acquired Evolution Funds Inc. This transaction places Valorem among the leaders of Quebec mutual fund companies.

As a result of this transaction, assets under management have increased fourfold and are now close to $200 million.

“Since the beginning of the year, we have indicated that we wish to be more aggressive within the Quebec financial services industry. This transaction not only significantly increases our critical mass, but also allows us to provide investors with a wider range of funds in order to better fulfill their needs” said Normand Leclerc, president of Valorem.

The name, Evolution Funds, will be retained and Evolution Funds, manager, will now offer over thirty funds within the Avix, Azura and Valorem families.

The management of these funds has been entrusted to investment management firms such as Jarislowski Fraser, Montrusco Bolton, Addenda Capital, SIPAR and Holdun. Furthermore, the equity funds, will continue to be managed by Andre D’Amours.