Qwest Investment Management

What Qwest Investment Management does

Qwest Investment Management Corp. is a privately held, founder-led Canadian investment management company headquartered in Vancouver, BC, established in 1999/2000 by Maurice Levesque. It operates as a full-cycle financial product manufacturer through its core subsidiary Qwest Investment Fund Management Ltd. (QIFM), which holds Investment Fund Manager (IFM), Portfolio Manager (PM), and Exempt Market Dealer (EMD) registrations across multiple Canadian jurisdictions. The platform spans concept-to-administration: QIFM handles product structuring and portfolio management, while wholly-owned subsidiaries Heritage Bancorp Ltd. and Qwest Fund Advisory and Back Office Services Ltd. (QFABS) provide fund accounting, NAVs, financial reporting, taxation, and audit support. Qwest Funds Corp. operates the AlphaDelta-branded mutual fund family.

The company's product portfolio covers six categories: (1) Probity-branded mining flow-through limited partnerships (annual vintages from 2016 through 2026), offering 100% CEE tax deductions to accredited investors; (2) AlphaDelta mutual funds, including Canadian and Global Dividend Income Classes; (3) the Qwest Productivity Media Income Trust (QPMIT), currently in receivership; (4) the Qwest Albany Avenue Music Fund (launched June 2024), giving accredited investors exposure to music royalty IP via Albany Avenue Music Fund LP; (5) Proof Capital Alternative Strategies funds (Alternative Income, Alternative Growth, Balanced Growth & Income, Medical Receivables Yield) launched in 2024; and (6) real estate investment products. Revenue is generated through recurring management fees on mutual fund and alternative strategies AUM, performance-based Class P Unit allocations on flow-through LPs (30% of cumulative Ordinary Income exceeding Gross Proceeds), and fees from third-party businesses that use QIFM as a product manufacturer. Distribution is hybrid: direct sales-led for B2B product manufacturing engagements and channel-led through authorized dealers and FundServ for retail investment products.

Name

Qwest Investment Management

Legal name

Qwest Investment Management Corp.

Website

https://qwestfunds.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Qwest Investment Management is a privately held Vancouver-based investment product manufacturer that creates, manages, and administers Canadian investment funds (mining flow-through LPs, mutual funds, alternatives, music royalties, real estate) through its IFM/PM/EMD-registered subsidiary QIFM, serving accredited investors and business clients seeking end-to-end fund services.

Ownership category

akta.pro rank

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: QIFM earns management fees for investment fund management services. Flow-through limited partnerships typically have no management fee, with the General Partner receiving Class P Unit allocations of 30% of cumulative Ordinary Income exceeding Gross Proceeds. Mutual funds generate management fees through actively managed portfolios.
2. Performance Fees: Some products like the Probity Mining 2018 Short Duration Flow-Through LP include a 30% performance bonus when NAV per unit exceeds $10.00
3. Financial Product Manufacturing Services: QIFM provides comprehensive services starting with financial product concept, building the product, and managing compliance and back office operations for third parties

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Qwest, through its subsidiary Qwest Investment Fund Management Ltd. (QIFM), acts as a complete financial product manager — designing, launching and administering investment funds including flow-through limited partnerships, mutual funds, music royalty funds, alternative strategies and real estate products. The firm holds Investment Fund Management (IFM), Portfolio Management (PM) and Exempt Market Dealer (EMD) registrations across multiple Canadian jurisdictions, and provides back office fund accounting, NAVs, financial reporting and tax administration via its Heritage Bancorp Ltd. subsidiary for both its own funds and third-party product manufacturers.

Product overview

Qwest Investment Fund Management Ltd. (QIFM) is a complete financial product manager offering traditional and innovative investment products across multiple asset classes. The product portfolio consists of six core offerings: (1) Probity Mining Flow-Through Limited Partnerships (tax-advantaged mining investments across 20+ annual series from 2016-2026); (2) AlphaDelta Mutual Funds (actively-managed Canadian and global dividend income funds under Qwest Funds Corp.); (3) Qwest Productivity Media Income Trust (yield-focused media investment, currently in receivership); (4) Qwest Albany Avenue Music Fund (music royalty IP investments launched 2024); (5) Proof Capital Alternative Strategies Funds (private equity, mortgage lending, medical receivables); and (6) Real Estate Investment Products (private and public real estate debt/equity). QIFM provides comprehensive services including investment fund management, portfolio management, compliance operations, and back-office administration through Heritage Bancorp Ltd. The company has over two decades of experience managing financial products across natural resources, alternative, music royalties, and real estate sectors.

Differentiator

Problem solved

Functional benefit

Brands

• AlphaDelta Funds: Actively-managed mutual funds including AlphaDelta Canadian Dividend Income Class and AlphaDelta Global Dividend Income Class, managed by QIFM and sub-advised by registered portfolio manager firms.
• Probity Mining
• Proof Capital
• QPMIT
• Qwest Albany Avenue Music Fund

Products and services

• Probity Mining Flow-Through Limited Partnerships Short-duration flow-through limited partnerships that raise capital for Canadian mining exploration, development and production companies and pass through tax deductions (100% Canadian Exploration Expenses and 30% declining balance Canadian Development Expenses) to accredited investors; multiple annual series including Probity Mining 2025, 2025-II and 2026 Short Duration Flow-Through LPs.
• AlphaDelta Mutual Funds Actively-managed corporate class mutual funds offering Canadian and global dividend income investing, including AlphaDelta Canadian Dividend Income Class and AlphaDelta Global Dividend Income Class, available in multiple series (A, F and I) and distributed via FundServ.
• Qwest Productivity Media Income Trust (QPMIT) Yield-focused investment trust targeting media income streams; note that Productivity Media Inc. is currently in receivership per the source disclosure.
• Qwest Albany Avenue Music Fund Music royalty investment fund providing Canadian accredited investors access to music royalty IP assets through the Albany Avenue Music Fund LP, which owns 1,000+ song titles across 3 catalogs with rights to lifetime copyright revenues.
• Proof Capital Alternative Strategies Funds Alternative investment funds spanning private equity, mortgage lending, and medical receivables financing, including Proof Capital Alternative Income Fund, Alternative Growth Fund, Balanced Growth & Income Fund, and Medical Receivables Yield Fund.
• Real Estate Investment Products Real estate investment offerings providing portfolio diversification across private equity, publicly traded equity, investment trusts, private debt and publicly traded debt instruments.
• Financial Product Manufacturing and Back Office Administration Services B2B services for third-party portfolio managers, entrepreneurs and business leaders seeking to create and operate Canadian investment funds, including investment fund management, compliance operations, and back office fund accounting/administration (NAVs, T2/T3/T5013 tax slips, HST, management and performance fees) through QIFM and Heritage Bancorp Ltd.

Quantifiable outcome

• Flow-through mining investments provide 100% CEE tax deduction and 30% declining balance CDE deduction
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered major, core and operational.

• Sub-Advisor FirmsmajorTechnology or Integration · 3 September 2024AlphaDelta funds are managed by QIFM and sub-advised by registered portfolio manager firms. A new sub-advisor was announced for AlphaDelta Canadian Dividend Income Class in September 2024.
• Grow to the Light Inc.majorStrategic or Co-development Partner · 1 June 2024Grow to the Light Inc. is the Music Manager overseeing the Qwest Albany Avenue Music Fund's portfolio. Led by Gavin Brown with 30-year music copyright experience, 50+ #1 songs, and 13 Juno Awards. Gavin co-founded The Barometer Global Music Royalty Fund in 2020.
• Albany Avenue Music Fund LPmajorStrategic or Co-development Partner · 1 January 2024Albany Avenue Music Fund LP presently owns 1000+ music titles and 3 catalogs, entitled to all revenues for the life of the copyright. The Qwest Albany Avenue Music Fund invests in this portfolio through the LP.
• Heritage Bancorp Ltd.coreStrategic or Co-development PartnerHeritage Bancorp Ltd. provides back office fund accounting, advisory and administration for Qwest financial products. Services include managing full-cycle fund activities, NAVs, financial reporting, taxation (T2, T3, T5013), HST, management fees, performance fees, distributions, and year-end audit processes. It is a subsidiary of Qwest Investment Management Corp.
• Qwest Fund Advisory and Back Office Services Ltd.coreStrategic or Co-development PartnerQFABS provides back office fund accounting and administration services alongside Heritage Bancorp Ltd. Part of the Qwest Group of Companies providing comprehensive operational support.
• AlphaDelta Management Corp.majorStrategic or Co-development PartnerAlphaDelta Management Corp. is an affiliate partner of Qwest Investment Fund Management Ltd. Victor Therrien serves as CEO of AlphaDelta Management Corp. AlphaDelta-branded funds are managed by QIFM and sub-advised by registered portfolio manager firms.
• Proof Capital Inc.majorStrategic or Co-development PartnerProof Capital Inc. partners with QIFM to offer alternative asset class funds including Alternative Income Fund, Alternative Growth Fund, Balanced Growth & Income Fund, and Medical Receivables Yield Fund. Cameron Reid serves as CIO of Proof Capital.
• SGGG Fund Services Inc.operationalOthersThird-party service provider utilized by QIFM to ensure financial products operate successfully. Issues T5 tax slips for mutual fund distributions.
• KPMG LLPoperationalOthersExternal auditor for Canadian Reporting Issuer funds. Audit fees range from $58,200 to $85,800 annually depending on fund complexity.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Guardian Capital Group: Canadian-owned wealth and asset management firm with mutual fund and alternative offerings. Comparable on multi-affiliate distribution and Canadian advisor-focused product manufacturing model.
• Fiera Capital: Canadian institutional and retail asset manager with public and alternative mandates. Comparable on multi-affiliate product manufacturing and Canadian advisor distribution.
• AGF Management Limited: One of Canada's largest independent asset managers with broad mutual fund, ETF, and institutional offerings. Victor Therrien (Qwest SVP) was previously VP at AGF/2020 Group of Funds, illustrating career adjacency and product overlap on Canadian dividend funds.
• CI Financial: Major Canadian asset manager with extensive mutual fund, ETF, and alternative product lineup. Comparable as a broad incumbent in the Canadian retail and advisor distribution channel where Qwest's AlphaDelta and Probity products are placed.

Direct peers

• Ninepoint Partners: Toronto-based alternative asset manager offering flow-through LPs, energy/resource funds, and income strategies. Comparable to Qwest's alternative strategies and mining flow-through product mix.
• Canoe Financial: Canadian investment manager specializing in alternative income and growth funds distributed via advisors. Directly comparable to Qwest/Proof Capital alternative income and growth product line.
• Sprott Inc. Toronto-listed alternative asset manager with strong mining, flow-through, and royalty fund offerings in Canada. Directly comparable to Qwest on Probity Mining flow-through LPs and on alternative asset class packaging for HNW Canadian investors.
• Middlefield Group: Canadian investment manager with a long-running flow-through LP franchise and actively managed mutual funds. Closely comparable business model — multi-product Canadian fund manufacturer targeting retail advisors and exempt market investors.

Others

• SGGG Fund Services Inc. Toronto-based fund services provider that administers NAVs, distributions, and T5 tax slips for QIFM's mutual funds. Comparable as an operational ecosystem participant supporting Canadian fund manufacturers like Qwest.

Emerging players

• Purpose Investments: Toronto-based independent investment manager offering mutual funds, ETFs, and alternative income products to Canadian advisors. Comparable on dividend-income and alternative fund product launches aimed at the Canadian retail channel.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

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 Qwest Investment Management