Private company

Connor, Clark & Lunn Investment Management Ltd.

Limited liability company registered in Canada, active since 2011. Summary from the record

Last updated Oct 21, 2026.

Overview

HeadquartersVancouver, Canada²
Legal formCompany (includes community contribution company and unlimited liability company)²
LEI549300CNWH54BTXURM94²
StatusActive²
LEI statusIssued and current²
Registered address1090 West Pender Suite #8, V6E 0E3 Vancouver, Canada²
Registered withBC Registry Services, BC0928524²

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Corporate structure

Connor, Clark & Lunn Investment Management Ltd. is part of a group headed by Connor, Clark & Lunn Investment Management Partnership. 47 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Connor, Clark & Lunn Investment Management Ltd.

Connor, Clark & Lunn Financial Owns 25% to 50% of Connor, Clark & Lunn Partnership, since 01/2013 (Form ADV)

Connor, Clark & Lunn Investment Management Partnership
- Connor, Clark & Lunn Investment Management Ltd. Vancouver, British Columbia, Canada
  - Absolute Software Corporation Stake · Vancouver, British Columbia, Canada
  - Baytex Energy Stake · Calgary
  - Brookfield Wealth Solutions Ltd. Stake · Hamilton, Bermuda
  - Celestica Stake · Toronto, Ontario, Canada
  - Enerflex Stake · Calgary, Alberta, Canada
  - MDA Space Stake · Brampton, Ontario, Canada
  - British Columbia Teachers' Federation Non-Pension Post-Employment Benefit Fund Fund · Vancouver, British Columbia, Canada
  - CC&L All Strategies Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Bond Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Canadian Equity Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Core Income and Growth Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Custom Long Term Fixed Income Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Group Balanced Plus Fund II Fund · Vancouver, British Columbia, Canada
  - CC&L Group Bond Fund II Fund · Vancouver, British Columbia, Canada
  - CC&L Long Bond Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Multi-Strategy Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Q ACWI Equity Extension Cayman Fund Ltd. Fund · Vancouver, British Columbia, Canada
  - CC&L Q Canadian Equity 120/20 Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Q Canadian Equity Core Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Q Canadian Equity Growth Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Q China Equity Fund Fund · Vancouver, British Columbia, Canada
  - CC&L Q EAFE Equity CIF Fund · Vancouver, British Columbia, Canada
  - CC&L Q EAFE EQUITY FUND LP Fund · Vancouver, British Columbia, Canada
  - CC&L Q Emerging Markets Equity CIF Fund · Vancouver, British Columbia, Canada
  - CC&L Q Emerging Markets Equity Extension Cayman Fund Ltd. Fund · Vancouver, British Columbia, Canada
  - and 20 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (6 companies); owners and owned firms from Form ADV, the registration investment advisers file with the SEC. Each entity in the chart links to its source.

Investment adviser

Connor, Clark & Lunn Investment Management Ltd. is registered with the SEC as an investment adviser. This is what it reports on Form ADV, the registration every adviser files and keeps current.

Assets it manages$85.6B³ 362 accounts, all with discretion
Employees155 56 in investment advice or research
ClientsPooled investment vehicles (other than investment companies and: 28 ($30.0B); State or municipal government entities (including government pension: 23 ($18.3B); Pension and profit sharing plans (but not the plan participants or: 91 ($13.5B); Insurance companies: 14 ($10.4B); Charitable organizations: 33 ($1.6B); Corporations or other businesses not listed above: 18 ($1.2B)
How it is paidA percentage of assets under its management; Performance-based fees
What it doesPortfolio management for individuals and/or small businesses; Portfolio management for pooled investment vehicles (other than investment companies); Portfolio management for businesses (other than small businesses) or institutional clients (other than registered investment companies and other pooled investment vehicles); Other: PROVISION OF A MODEL TO SEPARATELY MANAGED ACCOUNTS.
Holds client assetsYes: cash and securities
RegistrationSEC 801-79433, CRD 107557 IAPD record

Who owns it

Owners of 5% or more as the firm lists them (Schedule A), and the owners of those owners up the chain (Schedule B).

CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT PARTNERSHIPowns 75% or more, since 02/1994
CONNOR, CLARK & LUNN FINANCIALowns 75% or more of CONNOR, CLARK & LUNN, since 05/2026
CONNOR, CLARK & LUNN FINANCIALowns 25% to 50% of CONNOR, CLARK & LUNN PARTNERSHIP, since 01/2013

Disciplinary record

The firm answered yes to 1 of the disciplinary questions on Form ADV (Item 11). A yes can concern the firm itself or an affiliate.

Any other federal regulatory agency, any state regulatory agency, or any foreign financial regulatory authority has found the firm or an advisory affiliate to have been involved in a violation of investment-related regulations or statutes.

Each event as the firm describes it on its Disclosure Reporting Pages:

FINANSINSPEKTIONEN. · Sep 26, 2019 · fine $5,000 · final

Allegations: CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD.("CC&L") FAILED TO REPORT A SHORT POSITION IN ELTEL AB WITHIN THE REQUIRED TIME PERIOD. THE REPORTING WAS DUE ON JULY 6, 2017 AND WAS SUBMITTED BY CC&L'S 3RD PARTY SERVICE PROVIDER ON JULY 7, 2017. THE DELAY WAS THE RESULT OF THE SERVICE PROVIDER HAVING INCORRECT SHARES OUTSTANDING INFORMATION COMBINED WITH TIME ZONE DIFFERENCES BETWEEN CC&L (CANADA), THE REGULATOR (SWEDEN) AND THE SERVICE PROVIDER (AUSTRALIA). THE LATE FILING WAS IDENTIFIED BY CC&L ON JULY 6, 2017 AND THE REPORT WAS FILED BY THE SERVICE PROVIDER THE FOLLOWING DAY.

Sanction: Civil and Administrative Penalt(ies) /Fine(s)

How it ended: Decision

Summary: BY A DECISION MADE ON SEPTEMBER 26, 2019, FINANSINSPEKTIONEN HAS DECIDED THAT CONNOR, CLARK LUNN INVESTMENT MANAGEMENT LTD. SHALL PAY A PENALTY FEE OF SEK 5 000 FOR THE FAILURE TO REPORT A NEW SHORT POSITION IN ELTEL AB WITHIN THE TIME LIMIT PRESCRIBED BY LAW. THE APPEAL PERIOD FOR THE PENALTY FEE EXPIRED ON OCTOBER 17, 2019; AN INVOICE FOR THE PENALTY FEE HAS BEEN RECEIVED AND PAID.

Resolved: Jan 2, 2020

FINANSINSPEKTIONEN. · Sep 26, 2019 · fine $5,000 · final

Allegations: CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. ("CC&L") FAILED TO REPORT A SHORT POSITION IN RECIPHARMA AB WITHIN THE REQUIRED TIME PERIOD. THE REPORTING WAS DUE ON JULY 10, 2017 AND WAS SUBMITTED BY CC&L'S 3RD PARTY SERVICE PROVIDER ON JULY 12, 2017. THE DELAY WAS THE RESULT OF THE SERVICE PROVIDER HAVING INCORRECT SHARES OUTSTANDING INFORMATION COMBINED WITH TIME ZONE DIFFERENCES BETWEEN CC&L (CANADA), THE REGULATOR (SWEDEN) AND THE SERVICE PROVIDER (AUSTRALIA). THE LATE FILING WAS IDENTIFIED BY CC&L ON JULY 11, 2017 AND THE REPORT WAS FILED BY THE SERVICE PROVIDER THE FOLLOWING DAY.

Sanction: Civil and Administrative Penalt(ies) /Fine(s)

How it ended: Decision

Summary: BY A DECISION MADE ON SEPTEMBER 26, 2019, FINANSINSPEKTIONEN HAS DECIDED THAT CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. SHALL PAY A PENALTY FEE OF SEK 5 000 FOR THE FAILURE TO REPORT A NEW SHORT POSITION IN RECIPHARM AB WITHIN THE TIME LIMIT PRESCRIBED BY LAW. THE APPEAL PERIOD FOR THE PENALTY FEE EXPIRED ON OCTOBER 17, 2019; AN INVOICE FOR THE PENALTY FEE HAS BEEN RECEIVED AND PAID.

Resolved: Jan 2, 2020

FINANSTILSYNET · Mar 17, 2019 · fine $20,000 · final

Allegations: CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. ("CC&L") FAILED TO REPORT A SHORT POSITION IN ASTEK A/S WITHIN THE REQUIRED TIME PERIOD. THE REPORTING WAS DUE ON MARCH 19, 2018 AND WAS SUBMITTED BY CC&L'S THIRD PARTY SERVICE PROVIDER ON MARCH 22, 2018. THE DELAY WAS THE RESULT OF THE SERVICE PROVIDER HAVING INCORRECT SHARES OUTSTANDING INFORMATION COMBINED WITH TIME ZONE DIFFERENCES BETWEEN CC&L (CANADA), THE REGULATOR (FINLAND) AND THE SERVICE PROVIDER (AUSTRALIA).

Sanction: Civil and Administrative Penalt(ies) /Fine(s)

How it ended: Decision

Summary: BY A DECISION MADE ON MARCH 7, 2019, FINANSTILSYNET HAS DECIDED THAT CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. SHALL PAY A PENALTY FEE OF NOK 20 000. THE APPEAL PERIOD FOR THE PENALTY FEE EXPIRED ON MARCH 28, 2019; AN INVOICE FOR THE PENALTY FEE HAS BEEN RECEIVED AND PAID.

Resolved: Jun 18, 2021

FINANSTILSYNET · Feb 24, 2021 · fine $40,000 · final

Allegations: CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. ("CC&L") FAILED TO REPORT SHORT POSITIONS WITHIN THE REQUIRED TIME PERIOD ON FIVE OCCASSIONS BETWEEN JULY 2019 AND APRIL 2020. ON ONE OCCASSION, CC&L DID NOT CANCEL A FILING THAT WAS MADE IN ERROR (INCORRECT YEAR). THE ISSUE WAS IDENTIFIED BY CC&L AND THE CORRECT FILING WAS SUBMITTED ON TIME. ON THE OTHER OCCASSIONS, THE FILINGS WERE SUBMITTED BETWEEN 7 MINUTES AND 1 BUSINESS DAY LATE. THE DELAYS WERE EITHER THE RESULT OF THE SERVICE PROVIDER HAVING INCORRECT SHARES OUTSTANDING INFORMATION OR DUE TO PROCESSING DELAYS.

Sanction: Civil and Administrative Penalt(ies) /Fine(s)

How it ended: Decision

Summary: BY A DECISION MADE ON FEBRUARY 24, 2021, FINANSTILSYNET HAS DECIDED THAT CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. SHALL PAY A PENALTY FEE OF NOK 40 000. THE APPEAL PERIOD FOR THE PENALTY FEE EXPIRED ON MARCH 17, 2021; AN INVOICE FOR THE PENALTY FEE HAS BEEN RECEIVED AND PAID. No Information Filed

Resolved: Jun 18, 2021

In its own words: the client brochure

Form ADV Part 2A, the plain-English document an adviser must give its clients, quoted as filed 8/26/2026.⁴ It covers the firm’s services, fees, investment strategies and their risks, and its conflicts of interest.

Item 10: Other financial industry activities and affiliations Conflicts of interest

TABLE OF CONTENTS

COVER PAGE ................................................................................................................................... 0

MATERIAL CHANGES ....................................................................................................................... 2 Annual Update ............................................................................................................................................... 2 Material Changes since the Last Update .......................................................................................................... 2

TABLE OF CONTENTS ...................................................................................................................... 3

ADVISORY BUSINESS ........................................................................................................................ 5 Firm Description............................................................................................................................................. 5 Principal Owners ............................................................................................................................................ 5 Types of Advisory Services .............................................................................................................................. 5 Tailored Relationships .................................................................................................................................... 5 Wrap Fee Programs ........................................................................................................................................ 6 Types of Agreements ...................................................................................................................................... 6 Investment Management Agreement or Managed Account Agreement ........................................................... 6 Termination of Agreement ............................................................................................................................. 6

FEES AND COMPENSATION ............................................................................................................. 6 Description .................................................................................................................................................... 6 Fee Billing ...................................................................................................................................................... 7 Other Fees ..................................................................................................................................................... 7 Past Due Accounts.......................................................................................................................................... 7

PERFORMANCE-BASED FEES ............................................................................................................ 7 Performance-Based Fees ................................................................................................................................. 7

TRANSACTION COSTS ..................................................................................................................... 8 Description .................................................................................................................................................... 8 Anti-Dilution Levies ........................................................................................................................................ 8

TYPES OF CLIENTS ........................................................................................................................... 9 Description .................................................................................................................................................... 9 Investor Requirements/Account Minimums..................................................................................................... 9

METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS ........................................... 9 Methods of Analysis ....................................................................................................................................... 9 Investment Strategies ................................................................................................................................... 10 Risk of Loss ................................................................................................................................................... 10

10. DISCIPLINARY INFORMATION ........................................................................................................ 21 Legal and Disciplinary .................................................................................................................................. 21 Financial Industry Activities........................................................................................................................... 21 Other Funds ................................................................................................................................................. 23

11. CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING ....................................................................................................................................... 24

Code of Ethics .............................................................................................................................................. 24 Participation or Interest in Client Transactions .............................................................................................. 24 Personal Trading .......................................................................................................................................... 25 Gifts and Entertainment ............................................................................................................................... 25

12. BROKERAGE PRACTICES ................................................................................................................. 25 Selecting Brokerage Firms ............................................................................................................................ 25 Best Execution.............................................................................................................................................. 25 Soft Dollars .................................................................................................................................................. 26 Trade Allocations ......................................................................................................................................... 26 Cross Trades ................................................................................................................................................ 26

13. REVIEW OF ACCOUNTS ................................................................................................................. 27 Periodic Reviews .......................................................................................................................................... 27 Review Triggers ........................................................................................................................................... 27 Regular Reports ............................................................................................................................................ 27

14. CLIENT REFERRALS AND OTHER COMPENSATION ......................................................................... 28 Client Referrals and Other Compensation ..................................................................................................... 28

15. CUSTODY ...................................................................................................................................... 28 Account Statements ..................................................................................................................................... 28

16. INVESTMENT DISCRETION ............................................................................................................. 29 Discretionary Authority for Trading............................................................................................................... 29

17. VOTING CLIENT SECURITIES .......................................................................................................... 30 Proxy Votes .................................................................................................................................................. 30

18. FINANCIAL INFORMATION ............................................................................................................. 30 Financial Condition ...................................................................................................................................... 30

BROCHURE SUPPLEMENT (PART 2B OF FORM ADV) .............................................................................. 31 Education and Business Standards ................................................................................................................ 31 Biographies of Supervised Persons ................................................................................................................ 31

ADVISORY BUSINESS

FIRM DESCRIPTION Connor, Clark & Lunn Investment Management Ltd., (“CC&L”, “the Firm” or “the Manager”) is a discretionary asset manager registered as an investment adviser with the SEC under the U.S. Investment Advisers Act of 1940. CC&L was founded in 1982. Registration as an investment adviser does not imply a certain level of skill or training. As of the date of this Brochure, CC&L renders advisory services primarily to clients outside of the United States. Accordingly, the description of CC&L’s advisory business contained herein relates primarily to its business outside of the United States. However, consistent with prior SEC precedent, the substantive provisions of the U.S. Investment Advisers Act of 1940, as amended (the “Advisers Act”) generally will not apply to CC&L’s relationship with its non-U.S. clients, except to the extent otherwise required by applicable law.

PRINCIPAL OWNERS Connor, Clark & Lunn Investment Management Partnership (the “Partnership”) is the sole shareholder of CC&L. The partners of the Partnership are also directors and/or officers of CC&L. Connor, Clark & Lunn Financial Group LP is the only partner that holds greater than 25% of the Partnership. Connor, Clark & Lunn Financial Group LP is wholly owned by Connor, Clark & Lunn Financial Group Ltd. (“CC&LFG”).

TYPES OF ADVISORY SERVICES CC&L’s asset management services include: equity, fixed income, balanced and alternative solutions including portable alpha, market neutral, extension and absolute return strategies. As of December 31, 2025, CC&L had U.S $85.6 billion in regulatory assets under management. CC&L also offers its asset management services to certain financial institutions and dealers which operate managed account platforms where the financial institution or dealer will implement model portfolios provided by CC&L in their client accounts. In these instances, CC&L provides a portfolio model to the client on a regular basis and is not responsible for the execution of trades or the ongoing monitoring of the underlying portfolios. As a result, these assets are not included in the regulatory assets under management.

TAILORED RELATIONSHIPS CC&L acts as a discretionary investment adviser to various collective investment vehicles, including private investment funds, in which the fund’s investment strategy may not be customizable. In addition to managing collective investment vehicles (the “CC&L Funds”), CC&L also offers discretionary advisory services to managed accounts (the “Client Accounts”), which may be owned by private investment funds sponsored by third party or affiliated advisers or other clients. The goals and objectives for each client are documented in our client relationship management system. The terms, nature and scope of such

advisory services may be negotiated by CC&L and the applicable client, based on the client’s specific financial and investment objectives, risks and goals. Agreements may not be assigned, other than in some cases to an affiliate of CC&L, without client consent. WRAP FEE PROGRAMS CC&L participates as a model portfolio provider to wrap fee managed account programs sponsored by third-party financial institutions that is not affiliated with the Firm. In these cases, CC&L provides a model portfolio to the third-party financial institution on a regular basis, and such financial institution will implement the model portfolio for client accounts participating in the program. CC&L does not accept discretion over, and is not responsible for executing trades in, the client accounts participating in such wrap fee managed account programs. CC&L is compensated for its services to such wrap fee program clients with a fee based on the amount of assets of clients participating in the program that are invested according to the model the Firm delivers.

TYPES OF AGREEMENTS The following agreements define the typical client relationships.

INVESTMENT MANAGEMENT AGREEMENT OR MANAGED ACCOUNT AGREEMENT An Investment Management Agreement or Managed Account Agreement is executed between CC&L and its clients. The annual fee for an Investment Management Agreement or Managed Account Agreement is negotiable, and depends on the investment mandate for which CC&L is retained.

Read the rest in the brochure

Item 9: Disciplinary information

well as clarify risks previously listed.

Timeline

Dec 31, 2011Founded Connor, Clark & Lunn Investment Management Ltd. is founded²

Filings

23 filings to the SEC since October 2021: 23 other. The latest 20:

The 23 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Stakes it holds

Connor, Clark & Lunn Investment Management Ltd. has told the SEC it owns more than 5% of 6 companies, latest first (Schedules 13D and 13G).

Baytex EnergySCHEDULE 13G/A May 11, 2026 to Jul 30, 2026⁵
MDA SpaceSCHEDULE 13G/A May 11, 2026 to Jul 30, 2026⁶
EnerflexSCHEDULE 13G/A May 8, 2025 to May 7, 2026⁷
CelesticaSC 13G/A Feb 10, 2022 to Nov 7, 2024⁸
Absolute Software CorporationSC 13G/A Feb 10, 2022 to Feb 8, 2024⁹
Brookfield Wealth Solutions Ltd.SC 13G/A Feb 10, 2022 to Feb 10, 2023¹⁰

Sources

The numbers on this page point here. Each one links to the record it came from.