Assante Asset Management Ltd. today announced changes to the portfolio management arrangements for two investment pools in its Assante Optima Strategy program.

The investment management mandate of the Assante U.S. Equity Growth Pool has been awarded to Wellington Management Co., LLP. Headquartered in Boston, Wellington Management is one of America’s oldest investment management firms and currently manages over US$428 billion in client assets.

Similarly, the investment management mandate for the Assante Canadian Equity Diversified Pool will be shared by Connor, Clark & Lunn Investment Management Ltd. (CC&L) of Vancouver and Tetrem Capital Partners Ltd. of Winnipeg.

CC&L has managed North American equities on behalf of institutional investors for over 20 years and has managed the Assante Canadian Equity Growth pool since early 2003. CC&L currently manages in excess of $12 billion in assets. In managing their portion of the Assante Canadian Equity Diversified Pool, lead managers Bill Tilford and Gordon MacDougall will incorporate a growth investment strategy that maximizes exposure to profitable companies with positive earnings growth and possess above-average characteristics in terms of balance sheet and income statement strength.

Tetrem Capital Partners is led by Daniel Bubis, former chief investment officer of Assante Asset Management and one of Canada’s top money managers. Tetrem manages over $1.5 billionin assets as a sub-advisor to the Assante Canadian Equity Value Pool and other Canadian and U.S. equity accounts. Bubis and his team will employ their value-oriented investment strategies in managing their portion of the pool.

The above changes will be effective January 7, 2005.

Assante Optima Strategy is a multi-manager family of 18 mutual funds providing a broad range of geographically diversified investment options and multiple asset classes.