QUEBEC CITY, Oct. 30, 2019 /CNW Telbec/ - Kaleido, a pioneer in the field of registered education savings plans (RESPs) and formerly known as Universitas, announces that it will now offer more flexibility in managing the investment portfolios of its clients.
On October 28, 2019, the Autorité des marchés financiers granted an exemption allowing greater investment portfolio diversification for the REFLEX, UNIVERSITAS and INDIVIDUAL scholarship plans. Accordingly, Kaleido Growth Inc. and the Kaleido Foundation can henceforth invest scholarship plan assets―among others, and according to the origin of the funds―in bonds issued and guaranteed by the U.S. government, in corporate bonds, in mortgage-backed securities, in Canadian and U.S. equities, and in index participation units.
The investment policy of the plans will be amended to incorporate some of the new asset classes permitted under the exemption, and to adjust their investment strategy based on prudent portfolio diversification. The exemption and the revised investment policy will come into effect when the plan prospectuses are next renewed and the applicable receipts are issued, namely, in December 2019.
About Kaleido
Kaleido, a pioneer of education savings plans, supports families across Quebec and New Brunswick in helping their children reach their full potential. Kaleido includes a foundation, a management company and a financial services firm. The organization has over 100 employees and 150 representatives dedicated to providing education savings solutions and support that serve as a stepping stone for children in building tomorrow's society. Kaleido has issued $885 million in educational assistance payments and savings refunds to benefit over 227,000 children, and has over $1.5 billion in assets under management.
To learn more, visit kaleido.ca and follow us on social media.
SOURCE Kaleido Growth Inc.
Marjorie Larouche, Senior Advisor, Communications and Public Relations, [email protected], 418 651-8977, ext. 2314
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