Sceptre Investment Counsel Ltd. has acquired Portfolio Risk Optimization Services (PROS), effective January 1. PROS uses its proprietary technology to deliver risk based, asset management solutions to pension funds, life insurance and general insurance companies.

PROS will be operated as a separate division of Sceptre with Greg Fenton, president and Jean-Francois Lemay, vp, continuing to manage the day to day operations.

Rick Knowles, President & CEO of Sceptre said his company is pleased to be able to offer Canadian financial institutions this additional tool in assessing and managing the risks associated with the specific liabilities of their operations. “Custom benchmarking based on the actual liability data of an entity rather than the use of arbitrary benchmarks is growing in popularity while little expertise exists in this determination. We are pleased to now be in the forefront of this new and developing field,” said Knowles.

“The Sceptre name and platform coupled with PROS proprietary technology and process will allow us to provide clients with unique, customized, fully implemented solutions to their risk management requirements,” said Greg Fenton.