AGF Investments, a Canadian asset manager has acquired 100% of Robitaille Asset Management (RAM), for an undisclosed sum, which was earlier managing AGF Dividend Income Fund.
Both firms have merged into each other and formed a new entity under the umbrella of AGF Investments, the firm said.
Under the terms of the acquisition, Robitaille and his team will join AGF’s investment management team, which currently has AUM in excess of $615m.
AGF said that Marc-André and his team will continue based in Montreal and will assist AGF to strengthen its footprint in the Quebec and Eastern Canada market.
Robitaille said, "We are excited about joining the AGF family. As part of this larger team we will have greater access to the research and resources we need to grow our investment management capabilities."
AGF Investments executive vice-president, investments and chief investment officer Martin Hubbes said the acquisition solidifies its relationship with Marc-André and enhances AGF’s position in the Canadian equity and income space.
"Building on his strong track record we will be able to leverage his capabilities across our retail, key accounts and institutional distribution networks," Hubbes added.
Robitaille will also oversee the equity component of AGF Traditional Balanced Fund.
AGF Management together with its subsidiaries trade across the globe and offer mutual funds, mutual fund wrap programs and pooled funds.
Having more than $43bn in total assets under management, it also oversees assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients.