Louisbourg Investments aquires Fidelity Asset Management

2/8/2013 12:00:00 AM

Louisbourg Investments Inc. (“Louisbourg”), a Moncton based investment management firm and subsidiary of Assumption Life, has recently completed the purchase of Fidelity Asset Management Inc. (“Fidelity”), a New-Brunswick based boutique firm responsible for the management of investment portfolios for high net worth individuals.

“We were very impressed with the quality of the work accomplished by the Fidelity team. We believe that the collaboration between Louisbourg and Fidelity will allow us to better serve our clients and position ourselves as the leaders in the management of private client portfolios in Atlantic Canada” said Luc Gaudet, President and Chief Executive Officer of Louisbourg.

Donald Ellsworth and Sarah Ellsworth, the two principals of Fidelity, will remain with the firm and continue in their current roles. “We’re excited about joining the Louisbourg family. We have been considering for some time joining a larger organization for succession purposes and to gain access to resources on the operations side. Louisbourg will allow us to achieve those objectives, while partnering with a very entrepreneurial group who is dedicated to providing the highest quality investment management services to their clients” said Don Ellsworth.

About Louisbourg Investments Inc.

Louisbourg Investments Inc. was founded in 1991 and is a subsidiary of Assumption Life, a mutual life insurance company. The ownership of the firm is divided between Assumption Life (70%) and the investment professionals (30%). One of the few institutional investment management firms established in the Atlantic Provinces, Louisbourg has offices in Moncton and Halifax, and manages $2.0 billion on behalf of institutional and private clients.

About Fidelity Asset Management Inc.

Fidelity Asset Management was established in 1991 for the purpose of providing superior investment management services. Fidelity provides a highly personalized approach in the management of private client portfolios and its services are targeted exclusively toward a limited number of individuals.