INVESTMENT COMPANY CHANGES OWNERSHIP AND NAME
By Adnews Staff
Employees of Canada Life Investment Management Ltd. of Toronto have bought a 50% stake in the company from the Canada Life Assurance Company and changed the name of the organization to INDAGO Capital Management Inc. CLA will retain a 50% interest in INDAGO while the board of directors of the newly-named company will consist of an equal number of principals from CLA and INDAGO. The owners of INDAGO chose the name because it is a Latin word meaning to investigate, to search, to explore and to encircle. "It embraces both their commitment to research and investigation in pursuit of outstanding investment opportunities and their commitment to a total understanding of all aspects of their clients' investment needs," a company release says. The new name is being supported using trade print ads created in-house. CLA created CLIM in 1977 to focus on the managment of pension, other retirement, private capital, trusteed and endowment funds. In 1986, CLIM began operating as an autonomous, independent investment counsellor.