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 PORTFOLIO ADVISOR PROFILES |
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Barrantagh Investment Management Inc.
Barrantagh Investment Management, a Toronto-based investment firm, manages $650 million in assets and is anchored by four co-managing directors with over 100 years of investing experience. It uses a fundamentals-based, bottom-up investment approach, which emphasizes internal research to uncover stable, well-managed businesses trading at attractive valuations. Barrantagh feels that cash flow generation is the most crucial indicator of potential success for a business. Consequently, cash-flow-centric techniques form the basis of Barrantagh’s overall estimation of a company’s financial stability and intrinsic value.
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Guardian Capital LP
Guardian Capital, established in 1964, is based in Toronto and is wholly owned by Guardian Capital Group Limited. Guardian manages $16 billion in assets and is one of Canada’s leading fixed income managers. Along with expertise in traditional income products such as bonds, Guardian is also highly adept in the analysis and selection of high yield bonds, preferred shares and investment trusts. Guardian also manages Canadian equity mandates and its investment approach is based on an equity blend style (sometimes referred to as growth at a reasonable price). Guardian emphasizes companies with highly visible, above average growth prospects that are not yet reflected in the price of a company’s stock.
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Jones Heward Investment Counsel Inc.
Jones Heward, a member of Bank of Montreal’s Private Client Group, is a Toronto-based investment management firm with a successful history of investing for Canadians dating back to 1925. The company has strived to achieve consistent, reliable, above average performance through a risk-controlled approach to asset management. Jones Heward seeks to reduce risk through the strategic use of different asset classes, prudent diversification and intensive analysis of individual securities. One of the core beliefs of Jones Heward’s investment process is that dominant, well managed companies are superior performers over the long term. The managers use a rigorous bottom-up, fundamental approach to identify companies with above-average growth prospects, strong balance sheets and a consistent history of performance. Jones Heward manages over $32 billion in assets.
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Lazard Asset Management
New York-based Lazard Asset Management, with $143 billion in assets under management, is a division of Lazard Frères and Co., established in 1848. Lazard uses a bottom-up, relative value style, which values companies relative to their competitors within the same sector. This frees Lazard from investing only in traditional value sectors, and allows it to invest in any sector of the economy that is attractively priced. Lazard’s research platform is organized into global sector teams who compare global companies operating in the same industries. Lazard’s fundamentals-based, relative value approach has worked successfully for over two decades because of the disciplined, global nature of the research platform and team-based portfolio management. Lazard also has offices in other major international centres, including New York, London, Frankfurt, Tokyo and Sydney.
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Matthews International Capital Management
Matthews International Capital Management was founded in San Francisco in 1991. It invests exclusively in Asian markets and currently has $11 billion in assets under management. Matthews uses fundamental analysis and emphasizes individual security selection using a blend of growth and value styles. It uses quantitative and qualitative techniques to initially identify well managed businesses with dominant market shares in growth industries. For actual security selection, Matthews’ analytical process goes well beyond conventional analysis, and emphasizes frequent travel to Asia, regular, in-depth company meetings and daily contact with Matthews’ network of regional information sources.
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Mawer Investment Management Ltd.
Mawer Investment Management Ltd. is the largest independent investment counsellor in Alberta, with over $5 billion in assets under management. The company was founded in 1974 and is wholly owned by the professionals within the firm. Mawer’s investment approach is to systematically create broadly diversified portfolios of wealth-creating companies bought at discounts to their intrinsic values. Its investment style can be best described as GARP (Growth At the Right Price) with a Value bias.
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PIMCO (Pacific Investment Management Company)
PIMCO was established in 1971 and is one of the world’s most respected names in fixed income management, with $744 billion in assets under management. PIMCO uses both top-down and bottom-up strategies to reduce volatility and dependence upon any one strategy. Top-down strategies include active duration management, volatility controls, sector allocation and yield curve analysis, while bottom-up strategies combine credit quality analysis, quantitative research, issue selection and cost-effective trading. These strategies are integrated within PIMCO’s long-term investment approach, which is based on proactive analysis of secular trends, rather than reacting to short-term fluctuations in interest rates. A subsidiary of Allianz AG Germany, PIMCO’s head office is located in Los Angeles and it also has offices in other parts of the U.S., Europe and Asia.
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RCM
RCM is a globally focused company with more than $168 billion in assets under management. It is wholly owned by Allianz AG of Germany, and established its U.S. operations in San Francisco in 1970. RCM is an equity growth style manager and uses a disciplined, bottom-up approach to stock selection, emphasizing the role of internal research, fundamental analysis and management interviews. One of the features that make RCM distinctive is the firm’s innovative GrassrootsSM Research division. Established in 1984, GrassrootsSM uses 11 in-house staff, more than 300 researchers and more than 40,000 industry contacts worldwide to keep RCM abreast of under-researched marketplace trends, well ahead of the competition.
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Vontobel Asset Management Inc.
New York-based Vontobel Asset Management Inc. is a wholly owned subsidiary of Vontobel Holding AG and a sister company of Bank Vontobel AG, one of Switzerland's foremost private banks. Established in 1984, Vontobel is recognized for its expertise in global asset management and manages $8 billion in assets. It is a growth style manager that uses bottom-up stock analysis to identify high quality companies with predictable earnings. Vontobel’s portfolio holdings emphasize consistent operating histories, favorable long-term prospects, free cash flow generation, attractive valuations below Vontobel’s estimate of intrinsic value, sound management and business predictability.
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