Strategic acquisition will strengthen AGF's quantitative capabilities
TORONTO, Nov. 17, 2015 /PRNewswire/ - AGF Management Limited (AGF) today announced that it acquired the majority of the equity of FFCM LLC (FFCM), a Boston-based ETF advisor and asset management firm whose expertise is delivered through a family of alternative and smart-beta ETFs and a number of ETF managed solutions.
"This strategic acquisition strengthens our core competency in developing and managing quantitative solutions," said Blake C. Goldring, Chairman and Chief Executive Officer, AGF Management Limited. "This reinforces AGF's commitment to offering innovative solutions that focus on risk mitigation, while offering active market participation."
Led by Chief Executive Officer Bill Carey, FFCM creates, structures and manages ETFs. As ETF strategists, the investment team has a thorough understanding of the underlying instruments, which enables better asset allocation decisions and risk controls.
"Partnering with AGF will allow us to grow our research, marketing and product development capabilities," said Carey. "We are excited about bringing our ETF expertise and dynamic platform to the Canadian marketplace."
FFCM is currently co-portfolio advisor of AGF U.S. Sector Class, a fund designed to participate in rising markets while placing an emphasis on minimizing drawdown and preserving capital during market declines. FFCM's model ranks sector attractiveness based on factors such as, valuation, momentum and capitalization.
"The addition of the team at FFCM provides AGF with a solid platform from which to develop investment solutions designed to manage volatility and deliver more consistent, repeatable results," adds Kevin McCreadie, President and Chief Investment Officer, AGF Investments Inc. "Furthermore, this acquisition will allow us to grow our U.S. distribution capabilities."
About FFCM LLC
Founded in 2009, FFCM LLC is a Boston-based investor advisory firm founded with a vision to provide investors efficient and innovative access to investment factors through a family of ETFs and investment strategies otherwise limited to institutional investors. The leadership team at FFCM has extensive experience in ETF structuring, operations and management.
About AGF Management Limited
AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of mutual funds, mutual fund wrap programs and pooled funds. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. With approximately $33 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.