canadian & global equity

Asset Class/Style Canadian & Global Equity / Value


A focused Canadian and 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 investment objective of the Canadian & Global Equity strategy is to achieve long-term capital appreciation by investing primarily in a diversified portfolio of Canadian, U.S. and international equity securities.

Investment Strategies

The investment objective of the Canadian & Global Equity strategy will be achieved by investing primarily in equity securities of issuers located in Canada and other developed markets around the world.

Securities will be selected using a value based, bottom-up process, in order to identify attractive investment opportunities. The portfolio of securities selected will also be diversified to reflect a variety of companies and sectors. The Canadian & Global Equity Fund will be invested in at least seven (7) sectors and the maximum sector weight will normally be the index weight plus 10%.

In general, investments will only be made in large and medium capitalization companies and investments will not be made in foreign issuers that have a market capitalization of less that US $1 billion at the time of purchase. No single issuer may exceed 10% of the Canadian & Global Equity Fund’s portfolio. Under normal circumstances, a minimum of 20% of the portfolio of the Canadian & Global Equity Fund will be invested in the Canadian issuers and a minimum of 40% will be invested in foreign issuers.

The Canadian & Global Equity strategy may hold significant cash or cash equivalents pending investment or if such cash holdings are desirable as a result of market conditions.

Additional Information

Fact Sheet - Lincluden Canadian & Global Equity