January 1, 1996 -- Kitchener, Ontario, Canada.
Penad Pension Services has been chosen as service provider for PPM Fund Managers (Canada) Limited. In this capacity, Penad will provide a full range of administration, consulting and communications services.

Managing $2.5 billion in fund assets, PPM Fund Managers provides investment and portfolio management services to pension funds, mutual funds, endowment funds and insurance portfolios. Penad will program the company’s internal software engine to handle all record-keeping functions of PPM’s defined contribution pension plan. It will also design and write the plan text and employee information-booklets.

"We look forward to helping with the retirement plan administration of PPM’s employees," said Frank Price, President of Penad. "PPM is a top pension fund manager, and we are pleased they have chosen Penad for their administration services."