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Directories

Managers of Fixed Income

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AB
Wendy Brodkin, Managing Director; Brookfield Place, 161 Bay St. – 27th Floor, Toronto, ON M5J 2S1
PH: 416-572-2534
Fax: 212-756-4405
eMail: wendy.brodkin@alliancebernstein.com
Website: www.alliancebernstein.com
Management Style: Yield Curve, Credit, Structured Products, Index, Quantitative
Other Management Style: Multi-Asset
Passive Management Indices: N/A
Ownership: Principals - 64.44%, Public - 23.85%, Third-party - 11.71% (64.44% Includes ownership of AllianceBernstein units, indirect ownership of AllianceBernstein units through its interest in AllianceBernstein Holding, and general partnership interests in AllianceBernstein and AllianceBernstein Holding. AXA Group is a worldwide leader in insurance and asset management. 23.85% includes Public and other. 11.71% includes Direct and indirect ownership including unallocated units in deferred compensation plans.)
Professional Staff: 1221
Established: 1971
Performance Presentation Standards: AllianceBernstein Institutional Investments and AllianceBernstein Investments (collectively, the “Firm”) have designed their processes and procedures to calculate and present performance results in compliance with Global Investment Performance Standards (GIPS).
Minimum Investment - Pooled: Varies by Strategy
- Separate: Varies by Strategy
1 - This includes portfolio managers, research analysts and traders as of September 30, 2016

ACM ADVISORS LTD.
Chad Mallow, President; 210 - 1140 Homer St., Vancouver, BC V6B 2X6
PH: 604-661-0671
Fax: 604-682-3265
eMail: cmallow@acma.ca
Website: www.acma.ca
Management Style: Credit
Ownership: Principals
Professional Staff: 11
Established: 1993
Minimum Investment - Pooled: $150,000

ADDENDA CAPITAL INC.
Michel Jalbert, Executive Vice-president, Business Development & Client Partnerships; 800, René-Lévesque Blvd. W., Montréal, QC H3B 1X9
PH: 514-287-7373
Fax: 514-287-7200
eMail: m.jalbert@addendacapital.com
Website: www.addendacapital.com
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized
Passive Management Indices: FTSE TMX Canada Long Term Provincial Bond & Customized Hybrid Benchmarks
Ownership: Co-operators Financial Services Limited - 92.42%; Current and former employees - 7.58%
Professional Staff: 36
Established: 1985
Performance Presentation Standards: Addenda Capital Inc. claims compliance with the Global Investment Performance Standards (GIPS®). Addenda Capital Inc. has been independently verified for the periods from January 1, 2007 through December 31, 2017. The verification report is available upon request. Verification assesses whether (1) Addenda Capital Inc. has complied with all the composite construction requirements of the GIPS® standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS® standards. Verification does not ensure the accuracy of any specific composite presentation.
Minimum Investment - Pooled: $5M
- Separate: $20M

ALGONQUIN CAPITAL
Raj Tandon, Founding Partner; 1 King St. W., Ste. 1502, Toronto, ON M5H 1A1
PH: 416-214-3493
Fax: 416-214-3493
eMail: raj.tandon@algonquincap.com
Website: www.algonquincap.com
Management Style: Credit
Ownership: Principals
Professional Staff: 8
Established: 2014
Minimum Investment - Pooled: 250,000
- Separate: 100mm

ALPHAFIXE CAPITAL
Stéphane Corriveau, President; 1800 McGill College Ave., Ste. 2420, Montreal, QC H3A 3J6
PH: 514-861-3493
eMail: s.corriveau@alphafixe.com
Website: www.alphafixe.com
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized, Quantitative
Ownership: Principals - 100% Employee owned
Professional Staff: 15
Established: 2008

AVIVA INVESTORS
Rahul Khasgiwale, Investment Director, Americas; 100 King St., Toronto, ON M5X 2A2
PH: 416-360-2766
eMail: Rahul.khasgiwale@avivainvestors.com
Website: Avivainvestors.com
Management Style: Credit
Passive Management Indices: No.
Ownership: Third-party - 100 (Wholly owned subsidiary of Aviva plc.)
Professional Staff: 93
Established: 1971
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $500,000
- Separate: $25

AXA INVESTMENT MANAGERS
Yves Michel, Director of Client Relations - CANADA; Tour Majunga, 6 place de la Pyramide, PARIS LA DEFENSE, FR 92908
PH: 203-278-6199
eMail: yves.michel@axa-im.com
Website: www.axa-im.com
Management Style: Yield Curve, Credit, Structured Products
Other Management Style: Fundamental
Passive Management Indices: Not Applicable. AXA IM is an active manager.
Ownership: Principals - 97.31% (AXA Group), Public - 0%, Third-party - 2.69% (2.69% = 2.48% held by mutual insurance companies and 0.21% by employees, in relation to a share-based compensation program. Data as of the end of December 2017.)
Professional Staff: 126
Established: 1994
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: The minimum investment required varies between our different pooled funds and share classes. We would be happy to communicate you the minimum investment required for a specific pooled fund and a specific share class.
- Separate: $50M

BAKER GILMORE & ASSOCIATES INC.
Brent Wilkins, Head of Institutional Sales; 1800 McGill College Ave., Ste. 2310, Montreal, QC H3A 3J6
PH: 416-862-2020
Fax: 416-363-2089
eMail: bwilkins@cclgroup.com
Website: www.bakergilmore.com
Management Style: Yield Curve, Credit, Immunized
Other Management Style: Value-driven approach over a long-term investment horizon; multiple, diversified strategies.
Ownership: Principals - 50%, Third-party - 50% (Connor, Clark & Lunn Financial Group Ltd.)
Professional Staff: 7
Established: 1988
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $5M
- Separate: $10M

BARINGS
Michael Annis, Head of Sales and Business Development - Canada; Brookfield Place, 161 Bay St., 27th Floor, Toronto, ON M5J 2S1
PH: 416-572-2400
eMail: michael.annis@barings.com
Website: www.barings.com
Management Style: Yield Curve, Credit
Other Management Style: Duration
Ownership: Wholly-owned subsidiary of Massachusetts Mutual Life Insurance Company
Professional Staff: 280
Established: 1940
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: Varies by product
- Separate: Varies by product

BEUTEL, GOODMAN & COMPANY LTD.
Tim Hylton, Senior Vice-president, Institutional Client Service; 20 Eglinton Ave. W., Ste. 2000, Toronto, ON M4R 1K8
PH: 416-932-6342
Fax: 416-485-1799
eMail: marketing@beutelgoodman.com
Website: www.beutelgoodman.com
Management Style: Yield Curve, Credit, Immunized, Quantitative
Other Management Style: Active, Duration, Interest Rate Anticipation, Sector Swapping, Maturity Swapping
Ownership: Principals - 51%, Third-party - 49% (Affiliated Managers Group, Inc.)
Professional Staff: 7
Established: 1967
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $10M
- Separate: $25M

BMO GLOBAL ASSET MANAGEMENT
Ross Kappele, Head of Distribution & Client Management; 100 King St. W., Toronto, ON M5X 1A1
PH: 416-359-5217
eMail: ross.kappele@bmo.com
Website: www.bmo.ca/institutional
Management Style: Yield Curve, Credit, Structured Products, Index
Other Management Style: ESG
Passive Management Indices: FTSE TMX Canada 20+ Strip Bond Index
Ownership: BMO Financial Group
Professional Staff: 52
Established: 1982
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $10M
- Separate: $100M
2 - Total includes Canada only.

BNY MELLON ASSET MANAGEMENT
Michael Parsons, Vice-president, Sales & Marketing; 200 Wellington St. W., Ste. 305, Toronto, ON M5V 3C7
PH: 416-840-8019
Fax: 416-840-8030
eMail: michael.parsons@bnymellon.com
Website: bnymellon.com
Management Style: Yield Curve, Credit, Index, Immunized, Quantitative
Ownership: Public

BRANDES INVESTMENT PARTNERS
Tim Newburn, Director, Institutional Group; 20 Bay St., Ste. 400, Toronto, ON M5J 2N8
PH: 403-217-1331
Fax: 416-306-5750
eMail: timothy.newburn@brandes.com
Website: www.brandes.com
Management Style: Credit
Other Management Style: Bottom-Up Value approach aimed at finding mis-priced securities across sectors and industries.
Ownership: Principals
Professional Staff: 4
Established: 1974
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $1M
- Separate: $10M

BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC
Andrew Forsyth, Managing Director; 1267 Cornwall Rd., Oakville, ON L6J 7T5
PH: 416-807-1800
eMail: Andrew.Forsyth@brandywineglobal.com
Website: www.brandywineglobal.com
Other Management Style: Disciplined, active, value-driven, strategic approach to global bonds
Passive Management Indices: Not applicable as the Firm does not use passive management.
Ownership: Legg Mason, Inc.
Professional Staff: 29
Established: 1986
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $500,000
- Separate: $50M

BURGUNDY ASSET MANAGEMENT LTD.
Sylvie Methot, CFA, Vice-president; 181 Bay St., Ste. 4510, Brookfield Place, Bay Wellington Tower, Toronto, ON M5J 2T3
PH: 416-869-6468
Fax: 416-869-9036
eMail: smethot@burgundyasset.com
Website: www.burgundyasset.com
Management Style: Credit
Ownership: Principals, Public - 0%, Third-party - 0%
Professional Staff: 4
Established: 1990
Performance Presentation Standards: GIPS® (Global Investment Performance Standards) verified as of December 31, 2017.
Minimum Investment - Pooled: $5 million
- Separate: $10 million

CANSO INVESTMENT COUNSEL LTD.
Heather Mason-Wood, Portfolio Manager, CCO; 100 York Blvd., Ste. 550, Richmond Hill, ON L4B 1J8
PH: 905-881-8853
Fax: 905-881-1466
eMail: clientservice@cansofunds.com
Website: www.cansofunds.com
Management Style: Credit
Ownership: Principals
Professional Staff: 29
Established: 1997
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $10M
- Separate: $50M

CAPITAL GROUP CANADA
C. Jeff Cook, Senior Vice-president, Relationship Manager; Brookfield Place, 181 Bay St., Ste. 3730, Toronto, ON M5J 2T3
PH: 844-421-6636
Fax: 213-486-9223
eMail: CJEC@capgroup.com
Website: www.thecapitalgroup.com/ca
Management Style: Yield Curve, Credit, Immunized
Other Management Style: Fundamental Research
Ownership: Principals - 100
Professional Staff: 743
Established: 1931
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: 15 million
- Separate: 100 million
3 - This includes Portfolio Managers and Research Analysts

CI INSTITUTIONAL ASSET MANAGEMENT
Tom Johnston, President; 2 Queen St. E., 19th Floor, Toronto, ON M5C 3G7
PH: 416-681-7084
Fax: 416-681-8849
eMail: tjohnston@ci.com
Website: www.ciinstitutional.com
Management Style: Yield Curve, Credit, Structured Products
Ownership: Principals - 7.2%, Public - 92.8%
Professional Staff: 18
Established: 1965
Minimum Investment - Pooled: $1M
- Separate: $50M

CIBC ASSET MANAGEMENT INC.
Doug MacDonald, Managing Director & Global Head of Distribution; 18 York St., Ste. 1400, Toronto, ON M5J 2T8
PH: 416-780-5739
Fax: 416-364-3286
eMail: Doug.MacDonald@cibc.com
Website: www.cibcam-institutional.com
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized, Quantitative
Other Management Style: Multi-alpha
Passive Management Indices: FTSE TMX Universe Bond Index, FTSE TMX Short-term Bond Index, FTSE TMX Long-term Bond Index, FTSE TMX Real Return Bond, Customized Liability Benchmark
Ownership: Member of the CIBC group of companies, wholly-owned by Canadian Imperial Bank of Commerce
Professional Staff: 23
Established: 1972
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $10M

CIDEL ASSET MANAGEMENT INTERNATIONAL
Catherine Jackman, CFA, Senior Institutional Director; 60 Bloor St. W. - Ste. 900, Toronto, ON M4W 3B8
PH: 416-645-8733
Fax: 416-977-7650
eMail: cjackman@cidel.com
Website: www.cidel.com
Management Style: Yield Curve, Credit, Index
Ownership: Principals - 90%, Third-party - 10% (Cidel Bank and Trust)
Professional Staff: 4
Established: 1959
Minimum Investment - Pooled: $25,000M
- Separate: $500,000M

CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD.
Brent Wilkins, Head of Institutional Sales (Canada), Connor, Clark & Lunn Financial Group; 2200-1111 W. Georgia St., Vancouver, BC V6E 4M3
PH: 416-862-2020
Fax: 416-363-2089
eMail: bwilkins@cclgroup.com
Website: www.cclinvest.com
Management Style: Yield Curve, Credit, Index, Immunized, Quantitative
Ownership: Principals - 71.4%, Third-party - 28.6% (Connor, Clark & Lunn Financial Group Ltd.)
Professional Staff: 16
Established: 1982
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $10M
- Separate: $15M

DESJARDINS GLOBAL ASSET MANAGEMENT
Marco Larocque, Director, Relationship Management; 1 Complexe Desjardins, 20th South Tower, Montreal, QC H5B 1B3
PH: 514-985-1855
Fax: 514-281-7253
eMail: Clients_DGIA@desjardins.com
Website: www.desjardins.com/ca/about-us/desjardins/governance-democracy/structure/desjardins-asset-management/index.jsp
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized, Quantitative
Passive Management Indices: FTSE Canada Universe Bond Index and Customized Indices
Ownership: Wholly-owned subsidiary of the Desjardins Group
Professional Staff: 144
Established: 2003
Minimum Investment - Pooled: $1M
- Separate: $25M
4 - 8 portfolio managers, 4 analysts and 2 directors as at December 2018

FEDERATED INVESTORS, INC.
David Gregoire, Vice-president; 1001 Liberty Ave., Pittsburgh, PA 15222
PH: 416-527-1150
Fax: 412-288-1093
eMail: dgregoire@federatedinv.com
Website: www.federatedinvestors.com
Management Style: Yield Curve, Credit, Quantitative
Other Management Style: Federated has approximately 48 asset class styles as of September 30, 2018.
Passive Management Indices: N/A
Ownership: Principals - 15.00%, Public - 85.00% (The firm is privately-controlled and publicly-traded on the NYSE. Voting shares are held in a trust among founding family members. Employee ownership approximates 15% of the traded shares.)
Professional Staff: 1105
Established: 1955
Performance Presentation Standards: On 6/30/17, ACA Performance Services, LLC (“ACA”), part of ACA Compliance Group, acquired the GIPS verification and investment performance services business line of Ashland Partners & Company, LLP. Our most current GIPS verification letter is dated 09/30/2018.
Minimum Investment - Pooled: Varies by product
- Separate: USD $25M, however, this is negotiable.
5 - Data includes Fixed Income Analysts, Portfolio Managers, and Traders as of September 30, 2018.

FIDELITY CANADA INSTITUTIONAL
Michael Barnett, Executive Vice-president, Institutional; 483 Bay St., Toronto, ON M5G 2N7
PH: 416-217-7773
Fax: 416-307-5511
eMail: michael.barnett.toronto@fidelity.ca
Website: institutional.fidelity.ca
Management Style: Yield Curve, Credit, Structured Products, Index
Ownership: Principals
Professional Staff: 202
Established: 2005
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $7.5M
- Separate: $100M (Minimum investment for Canadian fixed income strategies)

FIERA CAPITAL CORPORATION
Martin Dufresne, Executive Vice-president and Head of Institutional Markets; 1501 McGill College Ave., Montreal, QC H3A 3M8
PH: 514-954-3300
Fax: 514-954-5098
eMail: mdufresne@fieracapital.com
Website: www.fieracapital.com
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized
Other Management Style: Core+, Strategic, Relative Value
Ownership: Principals - 13%, Public - 61%, Third-party - 26% (Canadian financial institutions)
Professional Staff: 28
Established: 2003
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $5M
- Separate: $20M

FORESTERS ASSET MANAGEMENT INC.
Melanie del Rio, Client Services Director; 20 Adelaide St.E., 15th Floor, Toronto, ON M5C 2T6
PH: 416-226-8084
Fax: 416-226-8051
eMail: melanie.delrio@foresters.com
Website: www.forestersassetmgmt.com
Management Style: Credit
Other Management Style: Neutral duration
Ownership: The Independent Order of Foresters (Canada)
Professional Staff: 5
Established: 2001
Minimum Investment - Pooled: $150,000
- Separate: $10M

FOYSTON, GORDON & PAYNE INC.
Kimberley Woolverton, Senior Vice-president, Institutional Client Services; 1 Adelaide St. E., Ste. 2600, Toronto, ON M5C 2V9
PH: 416-848-1936
eMail: kwoolverton@foyston.com
Website: www.foyston.com
Management Style: Yield Curve, Credit
Ownership: Principals - 36%, Third-party - 64% (Affiliated Managers Group)
Professional Staff: 6
Established: 1980
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $2M
- Separate: $10M

FRANKLIN TEMPLETON
Matthew Williams, Head of Institutional & Client Service; 200 King St. W., Ste. 1400, Toronto, ON M5H 3T4
PH: 416-957-6000
eMail: matthew.williams@franklintempleton.ca
Website: www.franklintempleton.ca
Management Style: Yield Curve, Credit, Immunized, Quantitative
Other Management Style: Domestic Fixed Income (Canadian), Emerging Market Debt, Global Sovereigns, Local Asset Management, Mortgages/ABS, Corporate High Yield & Investment Grade, Municipals, Bank Loans & Low Duration, Private Credit
Ownership: Principals - 36%, Public - 64%
Professional Staff: 183
Established: 1971 (Franklin Templeton Fixed Income Group)
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $1M
- Separate: $20M-$250M (depending on the mandate)

GLC ASSET MANAGEMENT GROUP LTD.
Craig Christie, Vice-president, Institutional Investment Solutions, Great-West Life Assurance Company; 100 Osborne St. N., Winnipeg, MB R3C 3A5
PH: 204-946-4083
Fax: 204-946-8818
eMail: craig.christie@gwl.ca
Website: www.glc-amgroup.com
Management Style: Yield Curve, Credit, Index, Quantitative
Other Management Style: Interest Rate Anticipation
Passive Management Indices: FTSE Canada Universe Bond Index
Ownership: The Great-West Life Assurance Company
Professional Staff: 13
Established: 2011
Performance Presentation Standards: Values of funds determined daily by segregated funds financial services department
Minimum Investment - Pooled: $5M
- Separate: $25M

GREYSTONE MANAGED INVESTMENTS INC.
Sean Collins, Senior Vice-president, Institutional Relationships; Ste. 4510, 77 King St. W., Toronto, ON M5K 1J3
PH: 416-309-2183
Fax: 416-309-2189
eMail: inquiries@greystone.ca
Website: www.greystone.ca
Management Style: Yield Curve, Credit, Structured Products, Index
Ownership: Principals - 0, Public - 100 (As of November 1, 2018, the acquisition of Greystone by The Toronto-Dominion Bank closed and Greystone now operates as TD Greystone Asset Management. TD Greystone Asset Management is a wholly owned indirect subsidiary of The Toronto-Dominion Bank.)
Professional Staff: 47
Established: 1988
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $5M
- Separate: $5M

GUARDIAN CAPITAL LP
Robin Lacey, Head of Institutional Asset Management; 199 Bay St, Commerce Court W., Ste. 3100, Toronto, ON M5L 1E8
PH: 416-947-4082
Fax: 416-364-9634
eMail: rlacey@guardiancapital.com
Website: www.guardiancapital.com
Management Style: Yield Curve, Credit, Structured Products, Immunized, Quantitative
Ownership: Guardian Capital Group Limited
Professional Staff: 8
Established: 1962
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $1M
- Separate: Varies by Mandate

HSBC GLOBAL ASSET MANAGEMENT (CANADA) LIMITED
Ramy Zakher, Vice-president, Institutional Investments; Ste. 300, 70 York St., Toronto, ON M5J 1S9
PH: 416-868-8286
Fax: 416-361-6345
eMail: ramy.x.zakher@hsbc.ca
Website: www.assetmanagement.hsbc.com
Management Style: Yield Curve, Credit
Ownership: Indirect wholly-owned subsidiary of HSBC Holdings plc
Professional Staff: 46
Established: 1980
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $10M
- Separate: $50M
6 - HSBC Global Asset Management (Canada) Limited has 4 dedicated fixed income professionals. However, HSBC Global Asset Management's fixed income approach is systematic and efficient and has been designed to deliver the benefits of a global platform (comprised of approximately 160 investment professionals, including 69 fixed income portfolio managers, 15 quantitative analysts and portfolio engineers, 10+ macro and global economists and 45+ seasoned sector-specialist credit analysts) with the nimbleness of autonomous local decision-making.

INVESCO CANADA LTD.
Michael Peck, Vice-president, Head of Canadian Institutional; 120 Bloor St. E., Ste. 700, Toronto, ON M4W 1B7
PH: 416-324-7679
Fax: 416-590-7742
eMail: michael.peck@invesco.com
Website: www.institutional.invesco.ca
Management Style: Yield Curve, Credit, Structured Products
Other Management Style: Credit Selection - 80%; Yield Curve - 10%; Interest Rate Anticipation - 10%
Ownership: Principals - 7%, Public - 93%
Professional Staff: 169
Established: 1981
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $1M
- Separate: $25M

J ZECHNER ASSOCIATES INC.
David Cohen, President; 130 Adelaide St. W., Ste. 1701, Toronto, ON M5H 3P5
PH: 416-867-8649
Fax: 416-867-8705
eMail: dcohen@jzechner.com
Website: www.jzechner.com
Management Style: Yield Curve, Credit
Other Management Style: Interest Rate Anticipation
Passive Management Indices: N/A
Ownership: Principals
Professional Staff: 4
Established: 1993
Performance Presentation Standards: CFA Institute
Minimum Investment - Pooled: $150,000
- Separate: $10M

J.P. MORGAN ASSET MANAGEMENT (CANADA) INC.
Daniel Smith, Executive Director; Ste. 4500, TD Bank Tower, 66 Wellington St. W., Toronto, ON M5K 1E7
PH: 416-981-9142
eMail: daniel.g.smith@jpmorgan.com
Website: www.jpmorgan.com/pages/jpmorgan/canada/en/business/assetmanagement
Management Style: Yield Curve, Credit, Immunized
Ownership: Principals - Wholly-owned subsidiary of J.P. Morgan Chase & Company
Professional Staff: 200
Established: 1871
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $1M
- Separate: $50M

JARISLOWSKY FRASER LIMITED
Peter Godec, Partner; 20 Queen St. W., Ste. 3100, Toronto, ON M5H 3R3
PH: 416-363-7417
Fax: 416-363-8079
eMail: pgodec@jflglobal.com
Website: www.jflglobal.com
Management Style: Yield Curve, Credit
Ownership: Bank of Nova Scotia
Professional Staff: 3
Established: 1955
Minimum Investment - Pooled: $1 M
- Separate: $15-$20 M

LEITH WHEELER INVESTMENT COUNSEL
Ben Homsy, CFA, Fixed Income Portfolio Manager; 1500-400 Burrard St., Vancouver, BC V6C 3A6
PH: 604-602-8367
Fax: 604-683-0323
eMail: benh@leithwheeler.com
Website: www.leithwheeler.com
Management Style: Yield Curve, Credit
Other Management Style: Duration
Ownership: Employee-owned
Professional Staff: 11
Established: 1982
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $3M
- Separate: $10M

LETKO, BROSSEAU & ASSOCIATES
Paul Vaillancourt, CFA, Partner, Director, Investment Services; 1800 McGill College Ave., Ste. 2510, Montreal, QC H3A 3J6
PH: 514-499-1200
Fax: 514-499-0361
eMail: info@lba.ca
Website: www.lba.ca
Other Management Style: - Global economic modeling - Business cycle analysis - Interest rate and yield curve forecasts - Credit assessment and special features
Ownership: Principals - 84%, Third-party - 16% (Private individuals)
Professional Staff: 23
Established: 1987
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $1M
- Separate: $5M

LINCLUDEN INVESTMENT MANAGEMENT
Wayne Wilson, Vice-president; 201 City Centre Dr., Ste. 201, Mississauga, ON L5B 2T4
PH: 905-273-3018
Fax: 905-273-4882
eMail: wayne.wilson@lincluden.net
Website: www.lincluden.com
Management Style: Yield Curve, Credit
Other Management Style: Value
Ownership: Principals - 40%
Professional Staff: 3
Established: 1982
Minimum Investment - Pooled: $150,000
- Separate: $10M

LORICA INVESTMENT COUNSEL INC.
Joanne Nahibuan, Manager, Marketing & Client Services; 130 Spadina Ave., Ste. 801, Toronto, ON M5V 2L4
PH: 647-776-8107
eMail: joanne.nahibuan@loricaic.com
Website: www.loricaic.com
Management Style: Yield Curve, Credit, Index, Immunized, Quantitative
Ownership: Principals
Professional Staff: 3
Established: 2010
Minimum Investment - Separate: $6M

LOUISBOURG INVESTMENTS
Emerson Savage, Associate Institutional Portfolio Manager; 1000-770 Main St., Moncton, NB E1C 1E7
PH: 506-853-5456
eMail: emerson.savage@louisbourg.net
Website: louisbourg.net
Management Style: Yield Curve, Credit, Index, Immunized
Ownership: Principals - 30%, Public - 0%, Third-party - 70% (Assumption Mutual Life Insurance Company)
Professional Staff: 3
Established: 1991
Performance Presentation Standards: Do not currently follow GIPS.
Minimum Investment - Pooled: 500000
- Separate: 1000000

MACKENZIE INVESTMENTS
Mark Sack, Vice-president; 180 Queen St. W., Toronto, ON M5V 3K1
PH: 416-967-2151
Fax: 416-922-3455
eMail: msack@mackenzieinvestments.com
Website: www.mackenzieinvestments.com
Management Style: Yield Curve, Credit
Other Management Style: Relative Value
Ownership: IGM Financial Inc.
Professional Staff: 18
Established: 1967
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $5M
- Separate: $20M

MANULIFE ASSET MANAGEMENT
Adam Neal, Head of Distribution - Canada; NT5, 200 Bloor St. E., Toronto, ON M4W 1E5
PH: 416-926-3000
eMail: adam_neal@manulifeam.com
Website: www.manulifeam.com
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized, Quantitative
Passive Management Indices: FTSE Canada Universe Index & FTSE Long Term Bond Index
Ownership: Principals - 0.00%, Public - 0.00%, Third-party - 100.00% (Manulife Financial Corporation)
Professional Staff: 23
Established: 1949
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $5 Million CAD
- Separate: $10 Million CAD for Equity, $25 Million CAD for Fixed Income

MATTHEWS ASIA
Celine Colgan, Head of North American Institutional Business; 4 Embarcadero Center, Ste. 550, San Francisco, CA 94111
PH: 415-954-4545
Fax: 415-788-4804
eMail: celine.colgan@matthewsasia.com
Website: www.matthewsasia.com/institutional
Management Style: Credit
Ownership: Principals - 40%, Third-party - 60% (Please refer to the fully diluted ownership structure below as of December 31, 2017. Matthews International Capital Management, LLC Ownership Structure: Ownership Entity; % of Ownership; Management, 40%, RBC USA HoldCo Corp. 18%, Lovell Minnick Partners LLC 20%, Mizuho Bank Limited 16%, Miscellaneous Investors 6%, Total 100%)
Professional Staff: 3
Established: 1991
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $1.3 M CDN (Institutional Class Shares)
- Separate: $100 M CDN

MAWER INVESTMENT MANAGEMENT LTD.
Rob Campbell, Institutional Portfolio Manager; Suite 830, Box 43, 333 Bay St., Toronto, ON M5H 2R2
PH: 416-865-5297
Fax: 416-865-3357
eMail: rcampbell@mawer.com
Website: www.mawer.com
Management Style: Yield Curve, Credit
Passive Management Indices: N/A
Ownership: Principals
Professional Staff: 4
Established: 1974
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $5M
- Separate: $50M

MFS INVESTMENT MANAGEMENT CANADA LIMITED
Christine Girvan, Managing Director of Sales, Canada; 77 King St. W., 35th Floor, Toronto, ON M5K 1B7
PH: 416-361-7273
Fax: 416-862-0167
eMail: cgirvan@mfs.com
Website: www.mfs.com
Other Management Style: Asset & Sector Allocation, Security Selection, Duration & Yield Curve, Region, Currency
Ownership: Principals - Up to 20% (Remainder is owned by Sun Life Financial, Inc.)
Professional Staff: 937
Established: 1924
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $3M
7 - As of September 30, 2018

MIDDLEFEILD GROUP
Nancy Tham, Sales and Marketing; First Canadian Place, 58th floor, toronto, ON M5X 1A6
PH: 416-362-0714
Fax: 416-362-7925
eMail: invest@middlefield.com
Website: www.middlefield.com

MONTRUSCO BOLTON INVESTMENTS INC.
Richard Guay, Senior Vice-president; 1501 McGill College Ave., Ste. 1200, Montreal, QC H3A 3M8
PH: 514-842-6464
Fax: 514-282-2516
eMail: guayr@montruscobolton.com
Website: www.montruscobolton.com
Management Style: Yield Curve, Credit
Other Management Style: Top-down
Ownership: Principals - 33%, Third-party - 67% (AMG - 43% & FSTQ - 24%)
Professional Staff: 1
Established: 1946
Minimum Investment - Pooled: $5M
- Separate: $5M

NISA INVESTMENT ADVISORS, LLC
Greg Johnson, Director, Client Services; 101 S. Hanley Rd., St. Louis, MO 63105
PH: 314-721-1900
Fax: 314-721-3041
eMail: greg.johnson@nisa.com
Website: www.nisa.com
Management Style: Yield Curve, Credit, Immunized
Other Management Style: Custom liability focused
Ownership: Principals
Professional Staff: 928
Established: 1994
Performance Presentation Standards: Performance Presentation Standards: NISA Investment Advisors, LLC claims compliance with the Global Investment Performance Standards (GIPS®) and prepares performance reports in compliance with the GIPS standards. NISA Investment Advisors, LLC has been independently verified for the periods of January 1, 1995 through June 30, 2018. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.
Minimum Investment - Pooled: Currently, all NISA managed portfolios are separately managed accounts.
- Separate: NISA does not have a stated minimum portfolio size but a minimum fee may be applicable. All fees are documented in the IMA.
8 - Number of Fixed Income Investment Professionals include members of NISA’s Investment Committee and Investment Professionals within NISA’s Fixed Income and Derivatives Portfolio Management Group, Investment Strategies Group, and Client Services Group with responsibility for NISA’s fixed income product. Not all of these individuals are involved in Canadian client strategies.

NORTHERN TRUST ASSET MANAGEMENT
David Lester, Senior Vice-president; 1910-145 King St. W., Toronto, ON M5H 1J8
PH: 416-775-2215
Fax: 416-366-2033
eMail: dl101@ntrs.com
Website: www.northerntrust.com
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized, Quantitative
Passive Management Indices: FTSE Canada Universe Bond, FTSE Canada Long-Term Bond, FTSE Canada Long-Term Broad Market Bond, J.P. Morgan USD Emerging Markets Bond, Markit iBoxx USD Liquid High Yield
Ownership: Public
Established: 1979
Minimum Investment - Pooled: $1,000,000
- Separate: $5,000,000

OPTIMUM ASSET MANAGEMENT
Brigitte Gascon, Senior Vice-president, Development; 425 de Maisonneuve Blvd. W., Ste. 1620, Montreal, QC H3A 3G5
PH: 514-288-7545
Fax: 514-288-4280
eMail: BGascon@optimumgestion.com
Website: www.optimumgestion.com/en/
Management Style: Yield Curve, Credit, Structured Products, Immunized, Quantitative
Other Management Style: FTSE Canada Universe, FTSE Long-Term Canada, FTSE Canada Provincial and other
Passive Management Indices: FTSE Canada Universe, FTSE Long-Term Canada, Mix of FTSE Canada Universe & FTSE Long-Term Canada and other
Ownership: Principals
Professional Staff: 9
Established: 1985
Minimum Investment - Pooled: $100,000
- Separate: $5M

PGIM9
Cameron Lochhead, Managing Director, Institutional Relationship Group; 655 Broad St., 10th Floor, Newark, NJ 07102
PH: 973-367-1850
eMail: cameron.lochhead@pgim.com
Website: pgim.com
Management Style: Yield Curve, Credit, Structured Products
Other Management Style: Active Fixed Income & Alternative Fixed Income Strategies
Ownership: Public - 0% (PGIM Fixed Income is a business unit within PGIM, Inc., a wholly-owned subsidiary of PGIM Holding Company, LLC. PGIM Holding Company, LLC is wholly-owned by Prudential Financial, Inc. (NYSE: PRU))
Professional Staff: 28310
Established: 1875
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: Varies by strategy
- Separate: Varies by strategy
9 - © 2019 Prudential Financial, Inc. (PFI) and its related entities. PGIM, Inc., is the principal asset management business of PFI and is a registered investment advisor with the US Securities and Exchange Commission. PGIM is a trading name of PGIM, Inc and its global subsidiaries. Prudential Financial, Inc. of the United States is not affiliated with Prudential plc, which is headquartered in the United Kingdom.
10 - 801 fixed income employees globally

PHILLIPS, HAGER & NORTH INVESTMENT MANAGEMENT
John Skeans, Vice-president; 200 Burrard St. - 20th Floor, Vancouver, BC V6C 3N5
PH: 604-408-6000
Fax: 604-685-5712
eMail: jskeans@phn.com
Website: institutional.phn.com/
Management Style: Yield Curve, Credit, Structured Products, Immunized
Ownership: Public
Professional Staff: 45
Established: 1964
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: Varies depending on mandate, minimum fee of $75,000 per annum applies
- Separate: Varies depending on mandate, minimum fee of $150,000 per annum applies

PICTET ASSET MANAGEMENT LTD.
Jean-Pierre Gemme, Senior Business Development Manager; 1000 de la Gauchetiere W., Ste. 3100, Montreal, QC H3B 4W5
PH: 514-350-6217
Fax: 514-288-4573
eMail: mtl-inst@pictet.com
Website: www.pictet.com
Management Style: Yield Curve, Credit
Other Management Style: Emerging Market Debt, Global Sovereigns, Absolute Return Fixed Income, Corporate High Yield and Investment Grade, Sustainable Credit
Ownership: Principals
Professional Staff: 8311
Established: 1980 (Parent - 1805)
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: Varies by strategy
- Separate: Varies by strategy
11 - 28 Investment Managers, 26 Analysts, 9 Client Portfolio Managers, 4 Economists, 16 Traders

PICTON MAHONEY ASSET MANAGEMENT
Taras Klymenko, Head of Institutional Business; 33 Yonge St. - Ste. 830, Toronto, ON M5E 1G4
PH: 416-702-4337
eMail: chaslip@pictonmahoney.com
Website: www.pictonmahoney.com
Management Style: Yield Curve, Credit, Structured Products, Quantitative
Passive Management Indices: N/A
Ownership: Principals
Professional Staff: 6
Established: 2004
Minimum Investment - Pooled: $25M
- Separate: $25M

PIMCO
Philippe Chkaibane, Senior Vice-president; 199 Bay St., Ste. 2050, Toronto, ON M5L 1G2
PH: 416-646-1449
eMail: philippe.chkaibane@pimco.com
Website: www.pimco.ca
Other Management Style: Active fixed income management with long-term focus utilizing all major global sectors of the bond market while managing duration within a moderate range around the benchmark
Ownership: Indirect subsidiary of Pacific Investment Management Company LLC
Professional Staff: 79712
Established: 1971
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $5M
- Separate: $75M
12 - Total PIMCO Firmwide Investment Professionals

ROMSPEN INVESTMENT CORPORATION
Dianna Price, Executive Vice-president Investor Relations, Business Development; 162 Cumberland St., Ste. 300, Toronto, ON M5R 3N5
PH: 416-928-5105
Fax: 416-966-1161
eMail: diannaprice@romspen.com
Website: www.romspen.com
Other Management Style: Mortgage
Ownership: Principals, Public - 0, Third-party - 0
Professional Staff: 8
Established: 1966
Performance Presentation Standards: Current yield
Minimum Investment - Pooled: 150,000
- Separate: Not applicable

RUSSELL INVESTMENTS CANADA LIMITED
Andrew Kitchen, Managing Director, Canada Institutional; 100 King St. W., Suit 5900, Toronto, ON M5X 1E4
PH: 416-640-2482
Fax: 416-362-4494
eMail: akitchen@russellinvestments.com
Website: russellinvestments.com/ca/institutional
Other Management Style: Multi-manager
Ownership: Ownership composed of a majority stake held by funds managed by TA Associates with minority stakes held by funds managed by Reverence Capital Partners and Russell Investments' management.
Established: 1936

SCOTIA INSTITUTIONAL ASSET MANAGEMENT13
Bryan DeLaurier, Vice-president & Head of Business Development; 1 Adelaide St. E., 23rd Floor, Toronto, ON M5C 2V9
PH: 416-365-2991
Fax: 416-933-7490
eMail: bryan.delaurier@scotiabank.com
Website: www.scotiainstitutional.com
Management Style: Yield Curve, Credit
Other Management Style: Absolute Return
Ownership: Principals - Scotiabank, Public
Professional Staff: 80
Established: 1877
Minimum Investment - Pooled: $10M
- Separate: $50M
13 - Scotia Institutional Asset Management and its predecessor companies have managed financial assets in Canada since 1877. Scotia Institutional Asset Management is a division of 1832 Asset Management L.P., the registered investment entity for Scotiabank’s Canadian wealth management platform, and wholly owned by Scotiabank.

SEAMARK ASSET MANAGEMENT LTD.
Beste Alpargun, Vice-president - Fixed Income; 400-1718 Argyle St, Halifax, NS B3J 3N6
PH: 902-423-9547
Fax: 902-423-0726
eMail: balpargun@seamark.ca
Website: www.seamark.ca
Professional Staff: 2

STATE STREET GLOBAL ADVISORS, LTD.
Michael W. Brown, Vice-president,Consultant Relations Manager; 30 Adelaide St. E., Ste. 500, Toronto, ON M5C 3G6
PH: 647-775-5778
Fax: 647-775-7264
eMail: Michael_W_Brown@ssga.com
Website: www.ssga.ca
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized, Quantitative
Other Management Style: Note:-While most of our strategies are indexed based, we also have capabilities in other areas of fixed income and cash management.
Passive Management Indices: FTSE TMX Canada Short Term Overall Bond Index FTSE TMX Canada 20+ Strip Bond Index FTSE TMX Canada Overall Long Term Bond Index FTSE TMX Canada Real Return Bond Index FTSE TMX Canada Universe Bond Index FTSE TMX Canada Long Term Government Bond Index
Ownership: Principals - Less than 5%, Public - over 95% (State Street Global Advisors, Ltd. (“SSGA Canada”) is a limited liability corporation incorporated under the laws of Canada. SSGA Canada is a wholly-owned subsidiary of SSGA International Holdings Inc. (“SSGA IH”). SSGA IH is a wholly-owned subsidiary of SSGA Inc., which is a wholly-owned subsidiary of State Street Corporation. State Street Corporation is a publicly traded bank holding company whose shares are traded on the New York Stock Exchange under the symbol “STT.”)
Professional Staff: 11814
Established: 1991
Performance Presentation Standards: Compliant with GIPS
Minimum Investment - Pooled: $5m min AUM
- Separate: $175,000 min fee
14 - Total number of fixed income & cash investment professionals for SSGA worldwide as of September 30, 2018.

SUN LIFE GLOBAL INVESTMENTS
Anne Meloche, Head of Institutional Business; 1 York St., Toronto, ON M5J 0B6
PH: 514-866-6287
eMail: anne.meloche@sunlife.com
Website: sunlifeglobalinvestments.com/institutional
Management Style: Yield Curve, Credit, Index
Other Management Style: Canadian Bonds - Active: multi-strategy/multi-manager
Passive Management Indices: DEX Universe Bond Index
Ownership: Sun Life Financial
Professional Staff: 15
Established: 2010
Performance Presentation Standards: N1 81-102 Investment funds regulatory requirement. (1, 3, 5, 10 yr, plus since inception if no 10 yr)
Minimum Investment - Separate: N/A
15 - Fixed income mandate is sub advised by multiple managers: Active: BlackRock, PH&N, CC&L and Templeton

SUN LIFE INSTITUTIONAL INVESTMENTS (CANADA) INC., A SUN LIFE INVESTMENT MANAGEMENT COMPANY
Heather Wolfe, Senior Managing Director, Head of Business Development and Client Relationships; 1 York St., Toronto, ON M5J 0B6
PH: 416-408-7834
eMail: Heather.Wolfe@sunlife.com
Website: www.sunlifeinvestmentmanagement.com
Management Style: Credit, Immunized
Ownership: Public, Third-party - Sun Life Institutional Investments (Canada) Inc. is an indirect wholly-owned subsidiary of Sun Life Financial Inc., a publicly traded company listed on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Professional Staff: 17216
Established: 2013
Minimum Investment - Pooled: Varies
- Separate: Varies
16 - The number of investment professionals above is as of September 30, 2018. Sun Life Institutional Investments (Canada) Inc. leverages the investment operations of Sun Life Assurance Company of Canada.

T. ROWE PRICE
Bruce Winch, Head of Sales, Canada; 77 King St W Ste. 4240, Toronto, ON M5K 1G8
PH: 416-360-7214
eMail: bruce_winch@troweprice.com
Website: www.troweprice.com
Management Style: Credit
Other Management Style: We implement a bottom-up, fundamental investment approach across all of our fixed income strategies, performing deep and focused credit research.
Passive Management Indices: Barclays Capital U.S. Aggregate Bond Index (TRP US Bond Index Fund)
Ownership: Public (T. Rowe Price Group, Inc. is a publicly traded company, with substantial employee ownership. Common stock owned outright by our associates, combined with outstanding vested stock options and unvested restricted stock awards, total nearly 14% of the firm's outstanding shares and outstanding vested stock options at December 31, 2017. T. Rowe Price distributes equity through both our employee stock purchase program and a stock incentive plan offering options and restricted stock: All employees are eligible to participate in the employee stock purchase program, and the firm will match the purchase of company stock up to a certain percentage of each employee's salary. Approximately 80% of employees own company stock.)
Professional Staff: 197
Established: 1937
Performance Presentation Standards: T. Rowe Price (“TRP”) has prepared and presented this report in compliance with the Global Investment Performance Standards (GIPS®). TRP has been independently verified for the 21‐year period ended June 30, 2018 by KPMG LLP. The verification report is available upon request.
Minimum Investment - Pooled: Varies by strategy & product
- Separate: Varies by strategy & product

TD ASSET MANAGEMENT INC.
Mark Cestnik, Managing Director; 161 Bay St., 34th Floor, Toronto, ON M5J 2T2
PH: 416-983-7088
eMail: Mark.Cestnik@tdam.com
Website: www.tdaminstitutional.com
Management Style: Yield Curve, Credit, Structured Products, Index, Immunized, Quantitative
Other Management Style: Duration Extension, Active Fundamental
Passive Management Indices: FTSE TMX Canada Universe Bond, FTSE TMX Canada 20+ Strip Bond Index, FTSE TMX Canada Real Return Bond, FTSE TMX Canada Long Bond, FTSE TMX Canada Long Govt. Bond, FTSE TMX Canada Corp. Bond, FTSE TMX Canada Govt. Bond, FTSE TMX Canada Provincial Long Bond, FTSE TMX Canada Mid-term Provincial Bond Index, FTSE TMX Canada Long Corporate, FTSE TMX Canada All Government Bond Index; FTSE TMX Canada long term overall bond index; FTSE TMX Canada Long term government bond index; FTSE TMX Canada Long Term provincial Bond index
Ownership: Wholly-owned subsidiary of Toronto-Dominion Bank
Professional Staff: 69
Established: 1987
Performance Presentation Standards: GIPS
Minimum Investment - Pooled: $10M
- Separate: $50M (Active) $200M (Passive)

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