A group of industry and professional associations are coming together to strengthen Canada’s position in the global asset management industry by fostering and supporting entrepreneurs in the sector.
The Alternative Investment Management Association Canada, CFA Societies Canada, Emerging Managers Board, and Portfolio Management Association of Canada together launched the Canadian Asset Management Entrepreneurship Alliance. The launch of the alliance comes amid increased global competition, rising operational costs, increasing industry consolidation and a drop in Canadian asset management entrepreneurship, a news release said.
In line with the launch, CAMEA also published a set of policy recommendations regarding how stakeholders can improve conditions for entrepreneurs in the sector. Among its suggestions are for a dedicated economic development agency for the sector, targeted tax incentives, making investment capital available for new and emerging firms through a structured emerging managers program, and the establishment of a more streamlined, harmonized and competitive regulatory framework.
Many of the CAMEA proposals were inspired by global comparable models, including from the U.S., Ireland, Dubai and Switzerland; and by looking at the Quebec Emerging Manager Program and Finance Montreal, the news release said.
“AIMA is proud to be a founding member of CAMEA and to continue advocacy for the next generation of Canadian asset management entrepreneurs,” said Claire Van-Wyk-Allan, managing director, head of Canada and investor engagement, Americas at AIMA, and co-founder of CAMEA, in the release. “In today’s global landscape, where international pressures like tariffs persist, it is imperative that our local asset management industry is aligned for success and growth. These proposed policies are designed to direct more capital and talent toward homegrown firms, fostering innovation, job growth and economic vitality across Canada. We urge the country’s policymakers and investors to recognize and support this opportunity to reinforce our leadership in global finance and asset management.”
