global opportunity equity

Asset Class/Style Global Equity / Value
Primary Benchmark: CPI +6%
Secondary Benchmark: 50% S&P/TSX Composite Index
50% MSCI World Index


A focused Global equity portfolio that utilizes a bottom-up, value-based approach to security selection and portfolio construction.

Investment Process

Lincluden has consistently applied a value-based investment philosophy since its inception. Portfolio managers operate under the belief that financial markets are efficient in the long run but can be inefficient in the short and medium term providing an opportunity to identify mispriced securities. Equity portfolio managers are assigned sector responsibilities on a global basis. Each portfolio manager is charged with identifying investment opportunities within their area of responsibility. Portfolio construction is implemented with an objective of producing a portfolio with superior risk/reward characteristics, ensuring prudent diversification. The combination of thorough quantitative and qualitative analyses allows the team to identify companies trading at a substantial discount of fair value. A focus on cash flow in determining a company’s valuation reflects the fact that free cash flow is the best currency to enable a company to grow. By relying on their own original, in-depth research – portfolio managers are able to act with confidence and conviction when investing in securities which may be overlooked by others. The approach culminates in portfolios of high-quality companies with excellent prospects for long-term appreciation.

Strategy Description

Investment Objective

The primary investment objective of the Global Opportunity Equity Strategy is to achieve long-term capital appreciation by investing primarily in a diversified portfolio of global equity securities including Canadian, U.S. and International companies.

Investment Strategies

The investment objective of the Global Opportunity Equity Strategy will be achieved by investing primarily in global equity securities listed on major exchanges and securities linked to the performance of global public companies, including American Depository Receipts (“ADRs”) and Global Depository Receipts (“GDRs”). Securities selected will normally also be located in developing countries that are included in the MSCI World Index. A maximum of 15% of the Global Opportunity Equity Strategy’s portfolio may be invested in companies from developing or emerging markets. In general, investments will only be made in companies that have a minimum capitalization of US $500 million at the time of purchase.

Securities will be selected using a value based, bottom-up process, in order to identify attractive investment opportunities. The portfolio of securities will also be diversified to reflect a variety of companies and sectors. No single issuer may exceed 10% of the Global Opportunity Equity Strategy’s portfolio.

The Global Opportunity Equity Strategy will usually hold between 25 and 40 issuers in its portfolio of securities.

Additional Information

Fact Sheet - Lincluden Global Opportunity Equity