The Investment Funds Institute of Canada (IFIC) is pleased to announce that Prometa Fund Support Services Inc. has joined IFIC as an affiliate.
“On behalf of our board and growing membership, I am pleased to welcome Prometa Fund Support Services Inc.,” said Joanne De Laurentiis, IFIC’s president and CEO. “IFIC is the only trade association that brings together fund managers, distributors and professional services firms in a forum where they can work collaboratively to foster a strong, stable investment sector,” said De Laurentiis.
“Each new member and affiliate broadens our understanding of industry concerns, and strengthens our ability to represent the full spectrum of industry and investor interests.”
Based in Winnipeg, Prometa is a Canadian owned back office service provider that administers over $8 billion in assets for 90 funds, including labour sponsored venture capital corporations, hedge funds and mortgage investment corporations. Founded in 2006, Prometa administers services to mutual funds of all sizes throughout the Canadian funds industry and is FundSERV compliant.
“We look forward to the input of Prometa as the industry continues to strengthen the investor experience and promote policy and regulatory solutions that promote a robust investment sector,” De Laurentiis added.
The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation. The organization is proud to have served Canada’s mutual funds industry and its investors for more than 50 years.
Invico Capital Corporation (“Invico”) has been working with Prometa Fund Services Inc. (“Prometa”) since 2008. At the time, we made the decision to work with Prometa as they are also a Western based, entrepreneurial company and we felt that they could help Invico meet the needs of servicing our investors. Invico has been extremely pleased with the quality of service that we have received from Prometa over the past seven years. Prometa is very responsive to our needs and is able to customize their services to ensure our needs are met in the most efficient and cost effective manner. I would not hesitate to recommend Prometa to other organizations that are looking for fund services.
Prometa Fund Services has been instrumental in expanding our sales network. The staff is professional and knowledgeable about all aspects of FundSERV and the fund industry. Since launching Magenta III Mortgage Investment Corporation on the FundSERV network we’ve experienced substantial growth. Prometa has made our FundSERV initiative a tremendous success.
We approached Prometa three years ago to explore the possibility of transacting our exempt market product through the FundSERV platform. Working with Prometa has allowed us to expand our distribution network, improve visibility into our capital pipeline and bring structure to the subscription timeline that has benefited both us and our dealer partners. Prometa has exceeded my expectations with their exceptional response times, professionalism and ability to successfully navigate the fast pace of change in the exempt market.
Prometa Fund Services Inc. has played an important role in the continuing success of the SaskWorks Venture Fund Inc. Since we began working with Prometa in 2003, we have experienced a level of service that far exceeds our prior backoffice. The fact that this service is provided to us at a cost less than our previous provider allows us to not only provide great service to our shareholders but put more dollars back in their pockets through a lower MER.