Promoter

The Kaleido Foundation is responsible for promoting scholarship plans. It oversees the execution of its mission and vision and all related activities and operations.

Distributor

Kaleido Growth Inc. is the wholly-owned subsidiary and distributor of the Kaleido Foundation. Its mandate is to:

• ensure the promotion, sale and management of the registered education savings plans (RESPs);
• provide administrative services, specifically with regard to the bookkeeping, accounting, and file maintenance;
• retain the services of (after consultation with the Foundation) the trustee, custodian, portfolio managers, auditor and external actuary;
• oversee the portfolio managers’ investment decisions and, more specifically, ensure they comply with investment policies.

Trustee

Eterna Trust Inc. acts as trustee of the plans; its mandate is to:

• oversee the management and investment of subscribers’ savings and government grants according to the instructions of the Foundation and portfolio managers;
• stand in for the Foundation in the event it refuses or finds itself unable to act.

Custodian

The custodian is CIBC Mellon Global Security Services Company. Its mandate is to:

• receive contributions for deposit to subscriber accounts;
• receive grants and revenues from income earned on assets for deposit to the appropriate accounts;
• interact with portfolio managers to transfer investment funds;
• act as the custodian of securities and other instruments in which these funds are invested by portfolio managers;
• reimburse—at plan maturity and on the instructions of Kaleido Growth Inc.—subscribers for the total amount of their contributions to the plan, including the refundable sales charges. When required by legislation, the custodian also reimburses the government grants to the government.

Actuary

Eckler Ltd. is an independent actuary with the mandate to audit the methods and assumptions used to calculate and determine the contribution schedules, how income and expenses are divided among the beneficiary groups of each plan, and the value per unit of the educational assistance payments (EAPs) issued to beneficiaries.

Kaleido is the only provider of registered education savings plans (RESPs) in Canada to offer a certificate issued by an actuary.

Portfolio Managers

Kaleido Growth Inc. is responsible for assigning seasoned portfolio managers and ensuring they comply with investment policies.

The main investment objectives for the plans are to:

• protect subscriber contributions and government grants;
• maximize long-term returns and ensure investment liquidity;
• offer growth potential (of investment value) based on prudent risk tolerance.

The management mandates are divided among five portfolio managers based on their respective areas of expertise. This team of advisors includes:

• Fiera Capital Corporation
• AlphaFixe Capital Inc.
• Jarislowsky Fraser Ltd.
• Montrusco Bolton Investments Inc.
• Amundi Canada Inc.