The Ethical Funds Co. today announced plans to change the portfolio manager of the Ethical North American Equity Fund. Effective May 13, the fund will be managed by Manning & Napier Advisors, Inc., replacing Alliance Capital Management Canada, Inc.

The change follows a formal review and an extensive search of qualified firms.

Ethical Funds says Manning & Napier was selected for its proven track record of delivering consistent performance through varying market conditions. It adds that Manning & Napier’s approach, adjusting portfolios to prevailing market conditions, is consistent with the fund company’s approach to fund management.

Ethical Funds is the only mutual fund company in Canada offering Manning & Napier portfolio management to its clients. Manning & Napier has experience managing socially responsible investments in the United States

According to Ethical Funds, Manning & Napier identifies companies in any industry sector that it believes fit its proprietary strategies and pricing disciplines. These strategies use fundamental analysis to look for one or more of the following characteristics: strong strategic profiles; improving market share in consolidating industries; and low price relative to fundamental or breakup value.

The fund follows a socially responsible approach to investing, allowing Canadian investors to include greater access to diversification in the US marketplace while investing in what they believe in.

“Manning & Napier’s ability to deliver performance through an entire market cycle puts them among a group of less than 5% of US equity investment managers who have outperformed the S&P500 Index each year since 1999. Their multi-strategy approach has helped to protect gains in periods of market downturns,” said Elaine McHarg, senior vp, marketing & CMO of Ethical Funds. “We’re very pleased to have selected this 5-star US equity manager, and we’re confident they will meet our investors’ goals by delivering financial, social, and environmental performance.”

Manning & Napier is an employee-owned firm based in Rochester, New York. Manning & Napier was established in 1970 and currently has over US$ 9 billion in assets under management.