Nov. 23, 2000, Toronto-- Money
management industry veteran Sam Wiseman, who's
worked in the industry for 22 years including
stints at the Ontario Municipal Employees'
Retirement System and the former Bolton Tremblay,
is starting his own firm. The company, Wise
Capital Management, will likely start up in
sometime the new year, pending regulatory
approvals.
"It's going to be a boutique," says
Wiseman, who will become the firm's chief
investment officer and president. "We want
to stay small enough and specialized where we can
beat the market. I'm not looking to manage $10
billion like the big banks and insurance
companies, which basically can't add too much
value anymore."
Wiseman's investment philosophy, which he will
use to manage a core Canadian equity product and
a quantitatively driven small-cap product, is to
hold little cash and apply a discipline with lots
of risk control.
"We're aiming [the products] at
institutional and private wealth, recognizing
that to make a big splash in the institutional
world, it's going to take a bit of time in Canada
because of the nature of the industry here,"
he says.
Wiseman sees a need for new independent money
management firms, noting that big banks and
insurance companies aren't as easily able to add
value for clients because of their size.
"There's going to be continued
consolidation [in the industry] because it's
easier to buy a book of business than it is to
build your own book of business," he says.
Filed by Andrea Davis, assistant editor,
Benefits Canada.
