Montrusco Bolton Investments Inc.
SEC-registered
Investment Adviser · Large ($10B–$100B)
CRD 154475
· SEC file 801-71803
· Montreal, Quebec
· WWW.MONTRUSCOBOLTON.COM
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ADV data as of Mar 31, 2026
- Regulatory AUM
- $12.9B
- Discretionary
- $12.0B
- Clients
- 343
- Avg AUM / client
- $37.7M
- Accounts
- 564
- Employees
- 68
AUM over time
$3.3B
$12.9B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| High net worth individuals | 10 | $20.3M | 0.16% |
| Banking or thrift institutions | Fewer than 5 clients | $4.7B | 36.1% |
| Investment companies | 19 | $2.1B | 16.4% |
| Pooled investment vehicles (non-investment companies) | 258 | $3.9B | 30.2% |
| Pension and profit sharing plans | 14 | $551M | 4.26% |
| Charitable organizations | 20 | $315M | 2.44% |
| State or municipal government entities | Fewer than 5 clients | $1.2B | 9.18% |
| Insurance companies | 6 | $41.1M | 0.32% |
| Corporations and other businesses | 16 | $133M | 1.03% |
Private funds (2)
Reported in Form ADV Section 7.B.(1), filing of Nov 2024 · $543M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Montrusco Bolton Global Equity Fund | Private Equity Fund | Canada | $489M | 167 |
| Montrusco Bolton U.S. Equity Fund | Private Equity Fund | Canada | $53.8M | 51 |
People (34)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Boule, Sylvain | President, Chief Executive Officer | Feb 1992 (35y) | 10% – 25% | |
| Bourdages, Benoit | Vice President, Operations | Jun 1996 (30y) | Less than 5% | |
| Russell, Tim | Vice President | Aug 1997 (29y) | Less than 5% | |
| Therien, Ginette | Senior Vice President, Governance And Chief Compliance Officer | Dec 1998 (28y) | Less than 5% | |
| Guay, Richard | Senior Vice President | Sep 2000 (26y) | 10% – 25% | |
| Goldsmith, John | Vice President, Deputy Head Of Equities | Apr 2004 (22y) | 5% – 10% | |
| Meloche, Jean David | Vice President And Portfolio Manager | Jan 2005 (22y) | Less than 5% | |
| Ayotte, Jean Claude | Senior Vice President, Chief Financial Officer | Jun 2005 (21y) | Less than 5% | |
| Bouet, Michael, Pierre | Senior Analyst | Mar 2008 (18y) | Less than 5% | |
| Cheong, Kimberly, Melissa | Portfolio Manager | Oct 2009 (17y) | Less than 5% | |
| Simonian, Simon | Portfolio Manager | Jul 2014 (12y) | Less than 5% | |
| Jason Szczepkowski | Vice President, Head Of Client Servicing North America | Jun 2017 (9y) | Less than 5% | |
| Niang, Ale, Badara | Vice President, Chief Technology Officer | Jun 2017 (9y) | Less than 5% | |
| Barres, Olivier | Vice President, Fixed Income | Feb 2018 (9y) | Less than 5% | |
| Claude André Duquette | Vice President, Institutional And Retail Sales | Jan 2021 (6y) | Less than 5% | |
| Drolet, Marc | Vice President, Head Of Client Servicing International | Aug 2021 (5y) | Less than 5% | |
| Hiscock, Robert | Shareholder | Mar 2022 (4y) | Less than 5% | |
| Shahin, Munir | Shareholder | Mar 2022 (4y) | Less than 5% | |
| Fakhry, Dina | Senior Vice President And Chief Operating Officer | Sep 2022 (4y) | Less than 5% | |
| Cassar, Jennifer | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Fortier, Marc Oliver | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Gareau, Karine | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Garnier, Meline | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Haas, Mark Alexander | Shareholder | Mar 2023 (3y) | Less than 5% | |
| How, Marylee | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Mackay, Christine | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Maggiore, Giacomo | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Mcneill, Mathew | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Mokri, Melori | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Patel, Munjal Vasantbai | Shareholder | Mar 2023 (3y) | Less than 5% | |
| St Germain, Julie | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Stusio, Piotr Marek | Shareholder | Mar 2023 (3y) | Less than 5% | |
| Egor Nickolaevich Rybakov | Registered representative | CFA | Jan 2026 (1y) | |
| Patrick Laflamme | Registered representative | Apr 2026 (0y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Amg Canada Holding Corp. | Shareholder | Jul 2005 | A | 25% – 50% |
| Fonds De Solidarite Des Travaileurs Du Quebec | Shareholder | Nov 2008 | A | 10% – 25% |
| Amg North America Holding Corp. | Shareholder | Jul 2005 | B | ≈ 6.25% – 25% via Amg Canada Holding Corp. |
| Affiliated Managers Group, Inc. | Shareholder | Jul 2005 | B | ≈ 6.25% – 25% via Amg Canada Holding Corp. |
Undisclosed: 0% – 40% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Amg North America Holding Corp.: 25% – 50% of Amg Canada Holding Corp. × 25% – 50% direct ≈ 6.25% – 25% of the firm
- Affiliated Managers Group, Inc.: 25% – 50% of Amg Canada Holding Corp. × 25% – 50% direct ≈ 6.25% – 25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (2, $543M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Montrusco Bolton Global Equity Fund | Private Equity Fund | $489M | $150K | 167 |
| Montrusco Bolton U.S. Equity Fund | Private Equity Fund | $53.8M | $150K | 51 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 1.45 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- National Bank Trust $4.7B (37% of AUM) Mar 2026
- Natcan Trust Company $1.8B (24% of AUM) Mar 2022
- State Street $844M (7% of AUM) Mar 2026
- J.P. Morgan $680M (5% of AUM) Nov 2024
- RBC $546M (4% of AUM) Nov 2024
- Cibc Mellon Trust Company $479M (6% of AUM) Mar 2022
- Fiducie Desjardins Inc. $452M (9% of AUM) Mar 2018
- BNY Mellon $428M (12% of AUM) Mar 2019
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗