In a world of financial homogeneity, MacNicol stands apart
Whether you seek income generation, capital appreciation, or a balanced approach, we have a solution that will meet your institution’s needs. Our experienced team combines deep market expertise, quantitative analysis, and qualitative insights to deliver strategies that align with your long-term financial goals.
Institutional Asset Management
Whether you seek income generation, capital appreciation, or a balanced approach, we have a solution that will meet your institution’s needs. Our experienced team combines deep market expertise, quantitative analysis, and qualitative insights to deliver strategies that align with your long-term financial goals.
A Selection of Our Partners
Our Approach
- 20+ years of redefining institutional portfolio management
- Award-winning alternative asset strategies that consistently outperform
- Tailored portfolios that challenge the status quo
- A global network of elite partners, carefully curated for institutional success
- A track record that speaks volumes in a market of white noise
The MAcNicol Edge
MAAM Canadian Institutional Model vs. S&P TSX 60
October 1, 2010 – October 31, 2025
All returns are backtested. All returns are net of fees and in Canadian Dollars. The strategy has been thoroughly tested, developed and implemented by MacNicol & Associates Asset Management inc. Results are not guaranteed and there are risks involved in investing in this model. Loss of principal may occur. Past results are not guarantee of future results. Model inception September 1, 2010.
Why MacNicol?
Through our underlying limited partnerships, we invest in a diversified portfolio of over 100 private equity, private real estate, and hedge fund investments. We have an audited track record of success in adding value during down markets, underpinning our strong foundations, viability, and useability in institutional investment portfolios.
We are committed to addressing the unique investment objectives and risk profiles of institutions like yours.
- Independence: Uncompromised by corporate agendas
- Expertise: Battle-tested professionals who thrive in market complexities
- Transparency: Crystal-clear reporting, no hidden agendas
- Innovation: Pioneering solutions for tomorrow’s challenges
Recognitions
Don’t just take our word for it. Have a look at the industry accolades.
Awards for Global Macro/Managed Futures/Multi StrategyÂ
Top 3 Best 1-year Return (2020, 2017)
​Top 3 Best 3-year Return (2020)
​​Top 3 Best 3-year Sharpe Ratio (2020, 2022)
Awards for Private Equity
​Top 3 Best 3-year Return (2022)​
​Top 3 Best 5-year Return (2022, 2023, 2024)
Access our institutional investor insights
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Disclaimers
- MAAM Canadian Institutional Model returns developed and based on back tested data. No changes to the investment style are made throughout the period. Results for the overall model are backtested and are net of all fees that will be charged to a client. Investing involves risks, including the potential loss of principal. The model that gave rise to these backtested performance results is one that the adviser is now using in managing clients’ accounts.
- Advisory services are provided by MacNicol & Associates Asset Management. The firm is registered as an investment advisor. Registration is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.
- You should consult with a professional advisor before implementing any strategies discussed. All investments and strategies have the potential for profit or loss. Different types of investments involve higher and lower levels of risk. There is no guarantee that a specific investment or strategy will be suitable or profitable for an investor’s portfolio. Historical performance returns for investment indexes and/or categories, usually do not deduct transaction and/or custodial charges or an advisory fee, which would decrease historical performance results. There are no assurances that a portfolio will match or exceed any particular benchmark.
- Alternative investments are speculative and involve a high degree of risk. Investors could lose all or a substantial portion of their investment. Investments may be illiquid, and there may be significant restrictions on transfers. Alternative investments may be leveraged, and their performance may be volatile. These investments may involve complex tax structures.
- Model returns have inherent limitations, especially the fact that they do not represent the performance of any particular client. Actual clients’ accounts may be managed differently in response to changes in economic conditions, account restrictions, and/or the client’s investment objectives. Hypothetical performance results may not be as reliable as actual returns from clients’ accounts. All results are presented net-of-fees and include dividends and capital gains.
- In constructing actual portfolios for clients, we might deviate from the asset allocation and investments utilized in this model. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses.
- All returns for our model are net of a 1.5% management fee. All figures are converted to CAD. No minimum investment in Canada only.