Canada-based Canoe Financial has closed the acquisition of O’Leary Funds management contracts and related assets.
Following the acquisition, Stanton Asset Management will continue to act as sub-advisor for Canoe Canadian Corporate Bond Fund (formerly O’Leary Canadian Bond Yield Fund).
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Also, Aegon USA Investment Management (AUIM) will serve as sub-advisor for Canoe Floating Rate Income Fund, Floating Rate Income Fund and Canoe Floating Rate Portfolio Trust.
Furthermore, AUIM will act as sub-advisor for Canoe Global Income Class/Fund and Canoe Strategic High Yield Class/Fund, Canoe Financial said.
Canoe chairman Brett Wilson said: "In addition to Canoe’s impressive organic growth since launching its first mutual funds in 2011, this transaction will result in an enhanced offering of investment solutions to serve both investment advisors and their clients."
Canoe Financial president & CEO Darcy Hulston said: "With this strategic acquisition, we have added to our sales team, expanded our distribution channels and enhanced the depth and breadth of our investment solutions at Canoe."
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