CIBC Mellon Wins Bloom Funds Asset Servicing Mandate
TORONTO, April 12, 2012 - 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.
“We selected CIBC Mellon as our asset servicing provider based on their superior technology, their strong operating environment, and perhaps most importantly, the impressive dedication to client service permeating the company’s culture,“ said Paul Bloom, president, Bloom Investment Counsel, Inc. “We have worked with many custodians and have found CIBC Mellon to be the best at allowing us to focus on our goals."
“Bloom Investment Counsel is trusted by an array of wealthy individuals, corporations, institutions and trusts to exceed expectations and deliver outstanding results,” said Tom Monahan, president and chief executive officer, CIBC Mellon. “We share Bloom’s commitment to performance, effective governance and responsibility to our stakeholders, and we look forward to supporting Bloom and its clients in achieving their investment goals.”
CIBC Mellon now provides asset servicing for more $370 million of assets managed by Bloom.
About Bloom Funds
Bloom Funds are managed by Bloom Investment Counsel, Inc.
Bloom Investment Counsel was established in 1985 and specializes in the management of segregated investment portfolios for wealthy individuals, corporations, institutions and trusts. In addition to its conventional investment management business the Manager currently manages specialty high-income equity portfolios comprised of dividend paying common equity securities, income trusts, real estate investment trusts and limited partnerships.
For more information, visit www.bloomfunds.ca
About CIBC Mellon
CIBC Mellon provides asset servicing solutions for institutions and corporations, including custody, multicurrency accounting, fund administration, unitholder recordkeeping, pension services and securities lending. We have over 1,100 people dedicated to supporting more than 1,200 client relationships with Canadian banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and foreign financial institutions whose clients invest in Canada. As of January 31, 2012, CIBC Mellon held more than CAD$1.1 trillion of assets under administration on behalf of our clients. CIBC Mellon is headquartered in Toronto, with offices across Canada in Vancouver, Calgary, London, Montreal and Halifax. Founded in 1996, CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce (CIBC) and The Bank of New York Mellon Corporation (BNY Mellon), the world's largest custodian. CIBC Mellon is part of the BNY Mellon network, which as of December 31, 2011 had USD$25.8 trillion in assets under custody and administration, USD$1.26 trillion in assets under management and global payments processed averaging $1.5 trillion per day.
For more information, visit www.cibcmellon.com or follow us on Twitter @CIBCMellon.