Crown Life and Banyan Announce Investment Management Partnership.REGINA Regina (rĭjī`nə), city (1991 pop. 179,178), provincial capital, S Sask., Canada, on Wascana Creek. The city is the distribution and service center for one of the world's largest wheat-growing areas. , SASKATCHEWAN--(BUSINESS WIRE)--June 24, 1998--Crown Life Insurance (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CLA CLA, n.pr See acid, conjugated linoleic. .) Banyan banyan (băn`yən), species of fig (Ficus bengalensis) of the family Moraceae (mulberry family), native to India, where it is venerated. Its seeds usually germinate in the branches of some tree where they have been dropped by birds. Investment Investment Management Crown Life Insurance Company and Banyan Investment Management today announced that they are entering into a strategic partnership regarding Crown Life's investment management subsidiary, Crown Life Investment Management (CLIMCO). CLIMCO's investment management team will also participate in the new partnership, which will operate under the name of Scheer, Rowlett & Associates. "This partnership builds on the successful track record of CLIMCO, and is well positioned to take advantage of market growth opportunities," said Brian A. Johnson, President and Chief Executive Officer of Crown Life. "Crown Life will share in the economic returns of the partnership, which will continue as lead manager for the investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company offered to clients through Crown Life's Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. pension business." Banyan will assume a leading role in the growth and development of the firm by providing business and strategic guidance and operating support to assist Scheer, Rowlett & Associates in realizing its full potential. Banyan offers a range of asset management services through investment management affiliates. These services focus on wholesale money management and distribution activities including the management of pension, endowment A transfer, generally as a gift, of money or property to an institution for a particular purpose. The bestowal of money as a permanent fund, the income of which is to be used for the benefit of a charity, college, or other institution. , mutual funds and insurance company assets. Banyan combines a seasoned management team along with the skills and resources of its major shareholder, Connor, Clark & Lunn Investment Management Ltd., one of Canada's largest independently owned institutional money management firms with assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. totalling $15 billion. Scheer, Rowlett & Associates will manage in excess of $700 million for a variety of institutional clients including pension plans, foundations and insurance companies. "These exciting developments ensure the necessary elements for the long term growth and success of the business," says Harold Scheer, Managing Partner and one of Canada's top performing fixed income managers. "We welcome the opportunity to become partners with Banyan and Crown Life and have high expectations for the future growth of the firm."
CONTACT: Crown Life Insurance Company
Chris Anderson, 306/751-6655
http://www.crownlife.ca
or
Crown Life Insurance Company
Don Savaria, 306/751-6153
or
Banyan Investment Management Ltd.
Mike Freund, 604/685-2020
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