The Community Foundation of Prince Edward Island is selecting Vestcor Inc. as its investment manager.
The CFPEI, which was first incorporated in 1993, oversees more than 200 community foundations in Canada representing several endowments, flow-through legacy and agency funds.
Read: Vestcor returns 12.2% in 2024, net assets increase to $23.1BN
According to its 2024 annual report, the CFPEI took in a 14.1 per cent annual return on investment while adding 21 new funds, while also receiving nearly $7 million in donations throughout the year.
The new agreement shows the growing recognition of the expertise at Vestcor beyond its provincial borders, according to a press release.
“We look forward to building a long-lasting relationship with CFPEI, supporting them in achieving their financial goals and those of the many important organizations and individuals they support,” said Sean Hewitt, president and chief executive officer of Vestcor, in the release.