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CIBC Mellon wins Bloom Funds mandate
16 April 2012
CIBC Mellon will provide Bloom with custody services, securities lending and accounting services
CIBC Mellon has been selected to provide asset servicing solutions for the Bloom Income & Growth Canadian Fund and the upcoming Bloom Select Income Fund.
CIBC Mellon will provide Bloom with custody services, securities lending, accounting services, and real-time access to investment information via CIBC Mellon's Workbench platform.
CIBC Mellon now provides asset servicing for more $370m of assets managed by Bloom.
Bloom Funds are managed by Bloom Investment Counsel, which was was established in 1985 and specialises in the management of segregated investment portfolios for wealthy individuals, corporations, institutions and trusts.
In addition to its conventional investment management business it manages specialty high-income equity portfolios comprised of dividend paying common equity securities, income trusts, real estate investment trusts and limited partnerships.