Greystone Managed Investments Inc. is making its first foray into the American investment fund market with a US$2-billion equity management contract with Transamerica Corp.
The contract marks the firm’s first direct American client since it was registered with the U.S. Securities Exchange Commission in 2016, said Rob Vanderhooft, chief executive officer and chief investment officer at Greystone, in a press release. “We’ve had Canadian subsidiaries of U.S. companies as clients before, but this is our first direct U.S.-based client.’’
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The deal is worth approximately one-twelfth of Greystone’s $34 billion assets under management, according to the release.
“The mandate they’ve given us is to manage equities in international markets, so it provides a significant independent validation of the investment teams and process that we’ve developed over the years, and the superior performance results that we have built,’’ said Vanderhooft.