New Investment Manager for ACF’s $19 Million Endowment Fund

16 February 2024News & Announcements

We’re pleased to announce that after a rigorous Request for Proposal (RFP) process, Connor, Clark, & Lunn (Canada) Ltd. has been named as the investment manager for our $19 million endowment portfolio.

Every 5 years, our Investment Committee undergoes a comprehensive RFP process to review and assess the management of our endowment portfolio. “It is critical that we are ensuring funds are managed in a way that honours the trust placed on us by our many donors. The Investment Committee encompasses investment managers and experts to help ensure that our investment managers are managing ACF’s endowed funds prudently and diligently to support our community today, tomorrow, and forever, “ explains Areni Kelleppan, Executive Director.

This year, the Investment Committee selected CC&L from a range of varied and respected candidate firms, to manage ACF’s endowment fund for the next 5 years. They cited CC&L’s institutional, specifically, community foundation, expertise and a responsive and adaptive allocation mix given the volatility in markets over the last couple of years, as critical in their decision making process. “We’re delighted to have been appointed by ACF. Our history and experience in assisting foundations, endowments and not-for-profit clients, as well as the personal volunteer efforts of many of our professionals in the community and on foundation boards has allowed us to become familiar with the governance and finance issues these organizations face, while gaining valuable insights to share with our clients. We look forward to a long-lasting partnership with ACF,” says Lizanne Ross Onder, Head of Multi-Asset Institutional Portfolios, Connor, Clark & Lunn (Canada) Ltd.

“ACF is very much looking forward to working with an investment firm that understands and appreciates how endowment earnings contribute to the betterment of the community,” says Marcus Janzen, Board Chair.

Our previous investment manager was CIBC Private Wealth, a firm that managed ACF’s endowed funds for the past 15 years and supported our work in community in many ways. We’re grateful for their longstanding work in helping build our investment portfolio over the years.

For more information on the RFP process that was used to make this selection, please click here.

To learn more about CC&L, please visit their website here.


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We respectfully acknowledge that we are located on the traditional and unceded territory of the Stó:lō people, the Semá:th First Nation and Mathxwí First Nation. As treaty People, Indigenous and non-Indigenous, we share the responsibility for the continued stewardship of this beautiful land.