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Yves Choueifaty, president, TOBAM

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TOBAM selected for CalPERS MDP II

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The California Public Employees’ Retirement System (CalPERS) and Strategic Investment Group (Strategic) have selected TOBAM to participate in the Manager Development Program II (MDP II).  Under the MDP II, TOBAM now manages a USD150 million global equity mandate for CalPERS. In addition, a joint venture between CalPERS and Strategic has acquired a minority equity stake (17.5%) in TOBAM’s parent company.

This announcement represents a major milestone in TOBAM’s international development, its first mandate with a US pension fund. “We are very proud to have been chosen by CalPERS and Strategic for this highly selective program,” says Yves Choueifaty, President of TOBAM. “This mandate is a sign of their confidence in our investment approach, and confirms their belief in the Anti-Benchmark concept as an innovative solution for the world’s leading institutional investors.”
 
To support its development efforts in the United States, TOBAM has recently opened an office in Los Angeles, with a representative dedicated to reaching out to US plan sponsors and other institutional investors.
 
CalPERS’ and Strategic’s decision to select TOBAM for the MDP II was driven by a belief in the asset manager’s unique investment process, as well as a belief in TOBAM’s growth prospects as investors seek forward-thinking solutions for unbiased market exposure beyond traditional “passive” investment approaches.

“We are delighted to welcome TOBAM to our Manager Development Program, in recognition of their position as an innovator in quantitative investing, with a research-driven culture and global reach,” says Hilda Ochoa-Brillembourg, Founding Partner, President and CEO of Strategic.
 
MDP II, launched in 2006, is a continuation of the first Manager Development Program launched in 2000. This program seeks to identify emerging entrepreneurial asset management firms and invests in strategies managed by, and makes equity investments in, the firms. TOBAM is the second asset manager selected by CalPERS and Strategic for MDP II.
 
Since 2006, the TOBAM team has implemented a unique quantitative investment approach based on original research on maximizing diversification in investments. The Anti-Benchmark model, created by Yves Choueifaty, aims at offering investors the Most Diversified Portfolio possible to optimize the return/risk ratio and thus avoiding the concentration of risk found in market cap-weighted benchmarks. In 2009, in line with its global development ambitions, the company partnered with Investeam in Canada to expand their regional presence.

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