July 13, 2018
Greg Dean's picture

Dear fellow fundholders,

The purpose of this letter is to provide you with an update on first-half results across the Canadian and Global small-cap portfolios. But first, I’d like to start by discussing an important upcoming anniversary that serves to highlight two key things: the benefit of taking a long-term approach when investing;...

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June 15, 2018
Stephen Groff's picture

Early last year we published "Why we are not owners of Canadian Banks today,” which summarized our rationale for avoiding investing in the industry. Now, nearly 18 months later, we thought it was a good time to provide an update. We will touch on what has changed and then review capital levels, which we believe are important but less...

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May 31, 2018
Brandon Snow's picture

“Never let the facts get in the way of a good story.”

-Attributed to Alan Radlo (originally Mark Twain)

As the cycle goes, so does the interest and emotions of investors. Coming out of a bear market, people are...

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May 18, 2018
Greg Dean's picture

I’ve been fortunate over the years to meet many of our clients – both advisor partners, and the families and individuals who own our funds directly. Collecting feedback and thanking those who trust us with their hard-earned savings is one of my favourite parts of the job. Often on these visits I’m asked, “So, which fund should I buy?” This is...

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April 27, 2018
Paul Marcogliese's picture

We have seen a substantial change in Canada’s interest rate landscape beginning in 2017 and continuing into 2018. During this period, the following developments occurred:

The Bank of Canada raised the overnight lending rate to 1.0% from 0.5%; Canadian 2-year bond yields moved from 0.75% to 1.7%; and Canadian 10-year bond yields moved... read more


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