NEW YORK, Oct. 27, 2020 /CNW/ — Diligend, a leading provider of investment management software, has been selected by FEG Investment Advisors (FEG), an independent investment consulting and OCIO firm, to automate and digitize the collection of manager data and documents in its operational due diligence (ODD) of investment managers across public and private markets and hedge funds.
FEG partnered with Diligend for a robust, flexible, and reliable solution to support their growth and the centralization of their ODD practice in order to provide a more effective and efficient due diligence process.
Diligend specializes in the collection and in-depth analysis of qualitative and quantitative manager data, from initial onboarding to ongoing monitoring for ODD, manager research, ESG and compliance teams. The technology frees up much-needed time by automating and simplifying processes that previously required a heavy manual workload. With Diligend’s technology solution, FEG will be able to efficiently collect and digitize both qualitative and quantitative information and produce ODD reports providing scoring on important operational tenets.
“The flexible nature of Diligend’s platform combined with their ongoing innovation will enable us to more efficiently support our growing client base and their evolving due diligence needs and expectations,” said Douglas Walouke, CFA, Director of Operational Due Diligence at FEG. “Building upon FEG’s historical diligence efforts with our dedicated ODD practice under development, we identified Diligend as the right fit because their technology solutions will not only help streamline our due diligence processes, but will also enable us to perform critical in-depth analysis and improved reporting on our clients’ investment managers.”
Diligend’s platform gives consultant clients the ability to more easily gather comprehensive and accurate timely due diligence data from their investment managers, allowing them in turn to bring increased oversight and tailored analysis to their own clients.
“We are delighted to have FEG as a client and to have the opportunity to work closely with their team to efficiently digitize their due diligence processes. We are looking forward to a successful long-term relationship with FEG,” said Louise Verga, Managing Partner at Diligend.
City makes investment in water and waste as part of $2.3B capital plan – Winnipeg Sun
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Chairperson of the City’s Water and Waste, Riverbank Management and the Environment committee, Coun. Brian Mayes (St. Vital) said in a statement on Tuesday he wants to see a reduction in sewage spills into rivers “with a $180 million commitment over the next six years.”
In a statement, the city said its capital investment plan will also invest $117 million in water main renewals, $117 million in sewer main revitalization over the next six years, and $39 million towards residential water meter renewal.
Environmental investments, the city explained, will contribute to the protection of Lake Winnipeg through upgrades to the North End Sewage Treatment Plant (NESTP), which they say are vital to future development in Winnipeg.
In September, council voted unanimously to endorse a request from the province to transfer $321.24 million of federal funds from the Transit Stream to the Green Infrastructure Stream under the Investing in Canada Infrastructure Program (ICIP) in support of upgrades to the NESTP.
The city said its decision hinged on the provincial government providing its share of $267.7 million towards the upgrade.
Water and Waste 2021 budget report facts:
Number of complaints about raw sewer backups 2017: 687 2019: 1,000
Number of complaints about water taste and odour 2017: 205 2019: 133
Number of water quality tests conducted 2017: 66,734 2019: 63,952
Kilometers of sewer inspected and cleaned 2017: 124 2019: 157
Number of industrial waste tests conducted 2017: 41,522 2019: 64,361
Investing in a sustainable future – Kaleido introduces its Sustainable Investment Policy – Canada NewsWire
QUEBEC CITY, Dec. 1, 2020 /CNW Telbec/ – Kaleido, the pioneer in education savings, is introducing a new responsible and sustainable investment strategy this December with its new Sustainable Investment Policy. One financial action at a time, Kaleido is working to build a brighter future.
“Sustainable investment means more than just investing in environmentally responsible firms,” says Isabelle Grenier, President and CEO of Kaleido. “We’re proud to say that 100% of our asset managers consider environmental, social, and governance factors—ESG criteria—when choosing what securities to invest in. We have an enormous responsibility as asset managers because every choice counts!”
ESG investing prioritizes organizations that create lasting value while making positive contributions on important social and environmental issues. It’s a philosophy that goes hand-in-hand with Kaleido’s work in education savings. After all, our goal is to build value over the years so our families can use their investments for their children’s postsecondary studies.
Kaleido also advocates for best practices in sustainable investment along with other national leaders in the field as an associate member of Canada’s Responsible Investment Association (RIA).
“We are committed to staying ahead of the curve. Our portfolio managers are already taking positions in favor of workplace safety and greenhouse gas reduction, for example. Our Sustainable Investment Policy is one more step towards our goal to create a brighter future for our youth,” says Grenier.
As always, Kaleido is driven by the conviction that all children can achieve their full potential when given the means. To give future generations the same chance, it is both logical and vital to invest in companies and initiatives that are working toward that goal.
Kaleido helps families in Quebec and New Brunswick give their children a leg up on future success. Every day more than 100 employees and as many representatives create brighter opportunities for youth through education savings, parent support, and insurance solutions.
Kaleido has been a pioneer in education savings since 1964. Over the years the organization has issued $993 million in educational assistance payments and savings refunds to benefit more than 227,000 young people. Kaleido has $1.7 billion in assets under management.
To learn more, visit kaleido.ca/en and follow us on social media.
SOURCE Kaleido Growth Inc.
For further information: Patrick Pedneault, Media Relations, [email protected], 418-651-8977, ext. 2312
BMO to exit oil and gas investment banking in the US – BNN
Bank of Montreal is winding down its U.S. oil and gas investment banking business and will focus on assets in Canada going forward, becoming the latest financial institution to cut ties with America’s beleaguered shale industry.
BMO said it has made “the financial decision for an orderly wind-down of our non-Canadian investment and corporate banking energy business.” Going forward, the company said by email, its capital markets energy business will be focused on Canada.
The company is eliminating about 50 positions in its investment banking group as part of the exit that was announced to staff on Monday, according to a person with direct knowledge of the situation who asked not to be identified because the information isn’t public. A handful of corporate bankers will manage BMO’s U.S. oil and gas loan book, the person said.
BMO is the latest bank to halt investment banking tied to U.S. oil and gas explorers, which even before the pandemic were facing pressure after years of generating meager returns. The move didn’t appear to be related to ESG concerns plaguing fossil fuel companies. America’s shale industry has been swept up in a wave of consolidation in recent months as the pandemic slashes oil demand, drags down prices and forces low-premium mergers. That follows years of lackadaisical M&A activity in the oil patch.
On Tuesday, BMO reported gross impaired loans in its U.S. oil and gas portfolio of $457 million at the end of its fiscal fourth quarter, compared with only $93 million for the industry in Canada and other countries.
BMO’s U.S. oil and gas loan book was about $7 billion as of July 31, making up half of its overall oil and gas loans, according to a company presentation.
–With assistance from Derek Decloet.
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