Addenda Capital Inc. (Montreal, Quebec)

Name: Addenda Capital Inc.
Address: 800 Rene Levesque Blvd. West, Montreal, Quebec, H3 B 1 X9
Telephone: 514-287-7373

Addenda Capital Inc. is a large advisory firm based in Montreal, Quebec. It manages $21.15 billion of regulatory assets for 238 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Alabama, Arkansas, Delaware, and 6 other states.

Addenda Capital provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, publication of newsletters, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Addenda Capital: assets under management

The assets under management (AUM) of Addenda Capital Inc. is $21.15 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 6% since the beginning of its operation, and $21.14 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $21.15 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $88.86 million each.

Investments

The firm invests in sovereign bonds the most. They account for 49% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in other assets form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Addenda Capital Inc. for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Michel Therien serves?

The firm provides services to insurance companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Michel Therien is insurance companies with 17 clients and $7.26 billion of assets under management. Among the 7 most similar advisory firms, Addenda Capital has the highest percentage of insurance companies out of all clients.

The amount of regulatory assets under management is $20.3 billion for 223 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 99% of the firm’s clients are foreign persons or businesses.

Addenda Capital doesn't advise any private funds.

Careers at Addenda Capital Inc.

The company employs 131 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Michel Therien has been acting as President since 1 Apr 2008. Yvan Fontaine has served as the Chief Investment Officer since 1 Dec 2000. Karen Sue Ann Higgins joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Myriam Larcher	Chief financial officer, chief compliance officer	1 Oct 1996	Other	5030074
Cnor Inc.	Shareholder	1 Oct 1996	Other	000000
Pierre Martin	Director	1 Dec 1996	Other	5030086
Chantal Ouellet	Secretary	1 Aug 1997	Other	5030091
Benoit Durocher	Chief operating officer	1 Nov 1997	Other	5030079
Joe Dimassimo	Executive vice president	1 Oct 1999	Other	5030102
Yvan Fontaine	Chief investment officer	1 Dec 2000	Other	5030088
Andre Bourbonnais	Director	1 Jun 2002	Other	5030080
Robert Chevrier	Director	1 Nov 2004	Other	5030081
Harry W C Gibbs	Director	1 Nov 2004	Other	5030084
Fidelity Management & Research Company	Shareholder	1 Dec 2004	Other	108281
Caisse De Depot Et Placement Du Quebec	Shareholder	1 Dec 2004	Other	000000
Marie Giguere	Director	1 Mar 2005	Other	5030085
Richard Ross Drouin	Director	1 Mar 2006	Other	5123645
Andree Grimard	Corporate secretary, general counsel and manager corporate affairs	1 Mar 2006	Other	5123649
Michel Therien	Director	1 Apr 2008	Other	5535660
Normand Carmand	Director	1 Apr 2008	Other	5030072
Benoit Durocher	Executive vice-president	1 Apr 2008	Other	5030079
Cnor Inc.	Shareholder	1 Apr 2008	Other	foreign
Co Operators Financial Services Limited	Shareholder	1 Apr 2008	50% - 75%	foreign
Kathy Bardswick	Director	1 Apr 2008	Other	5532041
Roland Courtois	Director	1 Apr 2008	Other	5532043
Bruce West	Director	1 Apr 2008	Other	5532049
Michael John White	Chairman & ceo	1 Apr 2008	Other	3092843
Solidarity Fund Qfl	Shareholder	1 Apr 2008	Other	foreign
James F. Macdonald	Co-chief investment officer	1 Apr 2008	Other	5647093
Chantal Ouellet	Manager human resources	1 Apr 2008	Other	5030091
Pierre Martin	Director	1 Apr 2008	Other	5030086
Daniel Burns	Director	1 Apr 2008	Other	5532042
Ann Marshall	Director	1 Apr 2008	Other	5532045
Yvan Fontaine	Co-chief investment officer	1 Apr 2008	Other	5030088
Jean Marc Prud'homme	Chief compliance officer	1 Dec 2009	Other	5751142
Mathieson Baxter Duncan	Vice-president	1 Feb 2011	Other	6627199
François Cardin	Corporate secretary, general counsel and manager corporate affairs	1 Jun 2011	Other	5123649
Michel Jalbert	Senior vice-president	1 Jul 2011	Other	6034467
Robert David Baldwin	Director	1 Nov 2011	Other	6032924
Jean Francois Pepin	Co-chief investment officer	1 Jan 2012	Other	6178103
Pallaris Savvas	Vice-president	1 Feb 2013	Other	6627205
Ian Scullion	Vice-president	1 Feb 2013	Other	6627221
Roger Jean Beauchemin	President and chief operating officer	1 Mar 2013	Other	5116818
Denis Laverdiere	Director	1 Sep 2013	Other	6317941
Charles Leblanc	Vice-president	1 Feb 2014	Other	6627219
Ian Mckinnon	Senior vice-president, core fixed income & head, corporate bonds	1 Mar 2014	Other	6468673
Roger Jean Beauchemin	Director, president and chief executive officer	1 Mar 2014	Other	5116818
James William Laverick	Director	1 Sep 2015	Other	6627210
Ian Mckinnon	Co-chief investment officer, core fixed income and insurance	1 Feb 2016	Other	6468673
Robert Phillip Wesseling	Director	1 Dec 2016	Other	6772787
Michel Messier	Director	1 Nov 2017	Other	6903791
Karen Sue Ann Higgins	Director	1 Jun 2018	Other	6974186

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Normand Carmand	Owner	1 Oct 1996	75% - 100%	5030072
The Co Operators Group Limited	Holding co	1 Apr 2008	75% - 100%	foreign

Based in Montreal, Quebec

The principal office where Addenda Capital Inc. performs its advisory services is located at 800 Rene Levesque Blvd. West, Montreal, Quebec, H3 B 1 X9, which is also the mailing address of the firm. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number 514-287-7373 or by fax 514-287-7200. The normal business hours are 8:30 a.m. / 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at addenda-capital.com.