Large managers with strong brand names have made it easier to secure dealer approval
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It’s a situation several Canadian fund managers, including CI GAM, are now seizing upon, spurred by an easing of regulatory constraints and increased interest from investors seeking alternative investments uncorrelated to public markets after the tumult of 2022, when stocks and bonds both tumbled significantly.
There’s just less than $90-billion invested in offering memorandum assets in Canada across the full-service brokerage and private investment counsel channels, the Investor Economics report states. Although that figure is poised to grow, there are still hurdles to clear, such as concerns over access to invested capital, valuation transparency and the potential for fraud.
Vlad Tasevski, chief operating officer and head of product for Purpose Investments, says client trust in private market funds will grow as the funds’ track records are established.
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