Addenda Capital

Company Profile

Addenda Capital is a privately owned Canadian institutional asset manager with offices in Montreal, Toronto, Guelph, and Regina. Addenda's investment management discipline is built on the principles of teamwork with dedicated teams of specialists providing investment expertise in a number of traditional and alternative investment strategies for bonds, equities and customized mandates.

Addenda's team of over 50 investment professionals focus on leveraging extensive in-house fundamental research capabilities and an unwavering commitment to ESG principles in managing overall portfolio risks. Addenda considers Environmental, Social and Governance factors in the investment and decision making process and are signatories of the United Nations' Principles for Responsible Investment.

Investment Approach

Addenda's international equity investment philosophy focuses on investing in growth areas of the world through leading global companies that have long-term key competitive advantages. Their Growth at a Reasonable Price (GARP) investment style is a 3 to 5 year long-term build of buying companies and not stocks.

They look at investing from the bottom up emphasizing sustained earnings growth and large cap high quality companies. The strategy generates alpha when the companies they buy grow faster than the benchmark, not by trading around positions. The portfolio management team works from an small investable universe of approximately 150 names from which they render down to 40-60 high conviction names that demonstrate strong financials, presence in sustainable growth industries and non-commoditized business models.

Funds Managed

NEI International Equity RS Fund

Lead Managers

	Ian Scullion, CFA Senior Portfolio Manager, Global Equities Ian is involved in the management of International, Global, and US Equity portfolios. He also analyzes and monitors the various industries and securities held in the portfolios. Prior to joining Addenda Capital, Ian led an International Equity team as Vice President, International Equities at CIBC Global Asset Management (2002-2012). Prior to that, he worked at Jarislowsky Fraser as Portfolio Manager, International Equities (1999-2002) where he was responsible for portfolio management and fundamental research for EAFE mandates. He was a Portfolio Manager and Director of Research at Cogesfond (1995-1999) and worked in Europe for Société Générale (1992-1995), where he was responsible for global equity management. He also worked at the Caisse de dépôt et placement du Québec (1989). Ian holds a Bachelor of Business Administration degree in Finance from Laval University (1988). He also holds the Chartered Financial Analyst® designation.
	Annie Laliberté, CFA Vice-President, Global Equities Annie leads the Global Equity team. She is involved in the management of International, Global, and US Equity portfolios. She also analyzes and monitors the various industries and securities held in the portfolios. Before joining Addenda Capital, Annie Laliberté worked at CIBC Global Asset Management (2002-2012) as an Analyst, International Equities. She assumed portfolio management and research responsibilities. Prior to this, Annie worked as an Assistant Portfolio Manager at Jarislowsky Fraser (2000-2002). Annie holds Bachelor's degree in Business Administration from HEC Montréal (2000). She holds the Chartered Financial Analyst® designation.
	Michel Rouette, FSA, FCIA Senior Portfolio Manager, Global Equities Michel is involved in the management of International, Global, and US Equity portfolios. He analyzes and monitors the various industries and securities held in the portfolios. Prior to joining Addenda Capital, Michel had been working with CIBC Global Asset Management as an International Equities Portfolio Manager since 2004. Before that, he spent over 15 years in the insurance industry with Industrial Alliance, overseeing the development of various insurance- and banking-related products. He also carried out financial analysis, due diligence assessment of insurance industry merger and acquisition targets, and asset liability matching. Michel holds a Bachelor's degree in Actuarial Sciences from Université Laval (1988). He is a Fellow of the Canadian Institute of Actuaries (FCIA) and of the Society of Actuaries (FSA), and is a member of the American Academy of Actuaries.
	Scott Knight, CFA, FRM Senior Portfolio Manager and Head of Research, Global equities Scott is involved in the management of International, Global, and US Equity portfolios and oversees the Global Equity team's fundamental research efforts. He analyzes and monitors the various industries and securities held in the portfolios. Scott joined Addenda Capital in 2004 as Analyst, US Equities, and was promoted in 2008 to Portfolio Manager, US Equities, before joining the International Equity team in 2013. Since 2022, he has held the position of Senior Portfolio Manager and Head of Research, Global Equities. Prior to joining Addenda Capital, he held the position of Senior Analyst, North American Equities with Hospitals of Ontario Pension Plan (HOOPP) (2001-2003). He began his career in 1992 with TD Asset Management through its acquisition of Canada Trust, where he held various positions, including Assistant Portfolio Manager, Global Asset Mix (1998-2001), Client Service Associate (1996-1998) and Performance Measurement Consultant (1995-1996). Scott holds a Bachelor of Commerce degree, completed with honours, from Carleton University (1993) and an MBA, completed with distinction, from the Ivey Business School of University of Western Ontario (2013). He is a Fellow of the Canadian Securities Institute (FCSI) and completed the Canadian Futures Exam (CFE). He holds a Financial Risk Manager (FRM) and the Chartered Financial Analyst (CFA®) designations.