Lincluden Investment Management

What Lincluden Investment Management does

Morguard Lincluden Global Investments (formerly Lincluden Investment Management) is a value-based Canadian investment management firm founded in 1982 and headquartered in Mississauga. The firm manages over $4 billion in assets across a multi-product platform spanning fixed income (Short Mid Bonds, Long Bonds), Canadian equities (High Quality Value, Stable Income Equity, Small Cap), global equities, balanced strategies (Balanced Fund, Income Plus), and a Real Estate Equity Fund that accesses diversified North American real estate through its parent Morguard Corporation. Its primary institutional clients include Canadian pension plans, foundations, endowments, First Nation Trusts, and not-for-profit organizations, supplemented by mutual fund and private client channels.

Name

Lincluden Investment Management

Legal name

Morguard Lincluden Global Investments

Website

https://lincluden.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

11–50 employees

Short description

Morguard Lincluden Global Investments (formerly Lincluden Investment Management) is a Canadian value-based investment manager managing over $4 billion for pension plans, First Nation Trusts, not-for-profit organizations, mutual fund investors, and private clients via fixed income, equity, balanced, and real estate strategies, and is a wholly-owned subsidiary of Morguard Corporation.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Private Client/High-Net-Worth Advisory (FSAEAAAN)

akta.pro secondary industries

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA), Multi-Sector / Total Return Fixed Income (FSAAAHAJ)

Keywords

• Investment management services
• Asset management
• Fixed income funds
• Equity fund management
• Institutional investing

Headquarters

HQ city

Mississauga

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Asset Management Fees: Generates revenue through management fees charged on assets under management across institutional mandates, mutual funds, and private client portfolios. Revenue scales with AUM performance and market valuations.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Morguard Lincluden Global Investments (formerly Lincluden Investment Management) is a value-based investment management firm that manages over $4 billion in assets for Canadian pension plans, First Nation Trusts, and not-for-profit clients. The firm offers a diversified suite of investment products including fixed income (Bonds, Short Mid Bonds, Long Bonds), balanced strategies (Balanced Fund, Income Plus), Canadian and global equities (HQV, Stable Income Equity, Small Cap, Global, Canadian & Global Equity), and a specialty Real Estate Equity Fund backed by Morguard's North American platform.

Product overview

Morguard Lincluden Global Investments (formerly Lincluden Investment Management) operates as a value-based investment management firm offering a diversified portfolio of investment products. The firm provides institutional and individual investors access to multiple asset classes including fixed income (Bonds, Short Mid Bonds, Long Bonds), equities (Canadian Equity HQV, Canadian Stable Income Equity, Canadian Small Cap Equity, Global Equity, Canadian & Global Equity), balanced strategies (Balanced Fund, Income Plus), and specialty real estate exposure (Real Estate Equity Fund). The products serve pension funds, foundations, endowments, mutual fund investors, private clients, and First Nations clients. The Balanced Fund has been recognized as a top performer, ranking in the top 3% of its category over five years.

Differentiator

Problem solved

Functional benefit

Products and services

• Balanced Fund A balanced investment strategy for long-term investors seeking robust returns exceeding inflation with limited downside risk. Named a 2025 GMR Top Performer, ranking in the top 3% of the GMR Balanced Universe over a five-year period.
• Real Estate Equity Fund A fund offering access to diversified North American real estate markets across all asset classes without liquidity constraints, leveraging Morguard's real estate insight and scale.
• Bonds Fixed income investment products including Short Mid Bonds, Long Bonds, and other bond strategies for institutional investors seeking stable income.
• Income Plus Income-oriented investment strategy designed to provide consistent income streams for investors.
• Canadian Equity High Quality Value (HQV) Value-oriented Canadian equity strategy focusing on high-quality companies trading at attractive valuations.
• Canadian Stable Income Equity Canadian equity strategy targeting stable income through dividend-paying companies.
• Canadian Small Cap Equity Investment strategy focusing on smaller Canadian companies with growth potential.
• Global Equity International equity strategy providing exposure to global markets.
• Canadian & Global Equity Combined equity strategy offering both Canadian and international market exposure.

Quantifiable outcome

• Balanced Fund ranked in top 3% of GMR Balanced Universe over five-year period

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Addenda Capital: Canadian institutional investment manager with balanced, fixed income, and equity mandates serving pension plans, foundations, and Indigenous communities — directly comparable target client base including Indigenous/First Nations trusts.
• Fiera Capital: Canadian asset manager offering institutional and private wealth solutions across fixed income, equities, and alternative strategies — comparable multi-product platform serving Canadian pensions, endowments, and advisors.
• Beutel, Goodman & Company: Toronto-based value-oriented investment manager offering Canadian equity, fixed income, and balanced mandates to institutional clients — directly comparable on value philosophy, institutional focus, and Canadian mandate set.
• Mawer Investment Management: Canadian independent, employee-owned investment manager offering balanced, fixed income, and Canadian/global equity strategies to institutional and individual clients — the closest direct peer in product mix, distribution model, and boutique scale.
• Jarislowsky Fraser: Montreal-based institutional investment manager (now part of Scotiabank) offering balanced, equity, and fixed income mandates — closely comparable institutional Canadian boutique model with similar AUM scale.

Broad incumbents

• CI Global Asset Management: One of Canada's largest asset managers offering mutual funds and institutional mandates across equities, fixed income, and balanced strategies — broader incumbent competing for the same institutional and retail flows.
• Manulife Investment Management: Large global asset manager with substantial Canadian institutional and retail business in fixed income, balanced, and equity strategies — broad incumbent providing scale competition for institutional mandates.
• Brookfield Asset Management: Global alternative asset manager with significant real estate platform comparable to Morguard's institutional real estate scale — relevant peer given Lincluden's Real Estate Equity Fund leverages affiliated real estate capability.

Regional players

• Guardian Capital Group: Canadian-owned investment management firm offering institutional and intermediary solutions across multi-asset strategies — comparable boutique-to-mid Canadian asset manager with similar institutional orientation.

Others

• Rothesay Life / Canadian Real Estate Peers (Morguard REIT comparable): Morguard Corporation is the parent and a diversified real estate operator — listed as adjacent ecosystem participant because Morguard's real estate platform is a direct enabler of Lincluden's Real Estate Equity Fund product.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lincluden Investment Management