FTQ Shifts Portfolio Management for FlexiFonds Funds
Event summary
- FTQ replaces Placements Montrusco Bolton with Addenda Capital for global equity index management of FlexiFonds Funds, effective August 17, 2026.
- Morningstar National Bank Québec Index will replace IQ-30 and S&P/TSX indices as benchmarks for Québec equity mandates.
- FTQ expands fixed-income securities to include bonds of foreign issuers issued in Canada in Canadian dollars.
The big picture
FTQ's restructuring of its FlexiFonds management reflects a strategic push for greater asset allocation optimization, particularly in Québec-focused equity mandates. With $23.7 billion in net assets as of May 2026, the changes aim to enhance benchmark consistency and fixed-income diversification without altering investment objectives or risk levels. This move aligns with broader trends in institutional portfolio management toward more tailored index solutions.
What we're watching
- Performance Impact
- How the transition to Addenda Capital will affect FlexiFonds' global equity returns compared to Montrusco Bolton's prior management.
- Benchmark Consistency
- Whether the shift to Morningstar National Bank Québec Index improves alignment between managed mandates and benchmarks.
- Fixed-Income Strategy
- The pace at which including foreign-issued Canadian dollar bonds diversifies FTQ's fixed-income portfolio.