Former Assante execs launch new firm

(May 19, 2004) A group of former Assante executives today announced the creation of a new investment management firm. Tetrem Capital Partners, headed by Assante chief investment officer Daniel Bubis, will act as a sub-advisor to Assante.

“This is a great opportunity,” said Bubis. “I’m excited to be part of an independent firm focused on investment results. And I’m happy to be part of a great team of experienced people who are dedicated to creating wealth for our clients.”

The Tetrem team includes three other senior Assante executives: vice presidents Daniel Friedman and Murray Schachter, as well as Sam Pellettieri, director of quantitative research.

Pending regulatory approval, Winnipeg-based Tetrem will manage over $1.5 billion in assets as a sub-advisor to Assante’s Optima Strategy Canadian Equity Value Pool, Canadian Equity Segregated Accounts, U.S. Equity Segregated Accounts and Global Voyager North American Equity Value Pool.

“Our initial focus will be servicing the high net worth and retail markets through the Assante advisors, who are, in my opinion, the industry leaders when it comes to client service,” said Bubis. “In my new role, I’m looking forward to continuing the great relationship I’ve forged with Assante advisors.”

“We’re very happy to continue our working relationship with Danny and the members of his team,” said Assante president Joe Canavan. “These are the same mandates that Danny has been managing for Assante for over 10 years. He and his team have done an excellent job for our clients and advisors.”

As well as working with Assante, Bubis says Tetrem will explore new opportunities to manage money for groups and institutional clients such as pension funds, endowments and foundations.

Filed by Doug Watt, Advisor.ca, doug.watt@advisor.rogers.com