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Greater Portfolio Diversification for Kaleido Clients

October 30, 2019

Kaleido, a pioneer in the field of registered education savings plans (RESPs) and formerly known as Universitas, announces that it will now offer more flexibility in managing the investment portfolios of its clients.

On October 28, 2019, the Autorité des marchés financiers granted an exemption allowing greater investment portfolio diversification for the REFLEX, UNIVERSITAS and INDIVIDUAL scholarship plans. Accordingly, Kaleido Growth Inc. and the Kaleido Foundation can henceforth invest scholarship plan assets―among others, and according to the origin of the funds―in bonds issued and guaranteed by the U.S. government, in corporate bonds, in mortgage-backed securities, in Canadian and U.S. equities, and in index participation units.

The investment policy of the plans will be amended to incorporate some of the new asset classes permitted under the exemption, and to adjust their investment strategy based on prudent portfolio diversification. The exemption and the revised investment policy will come into effect when the plan prospectuses are next renewed and the applicable receipts are issued, namely, in December 2019.

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