Structured Management of assets 

Each and every client portfolio, regardless of its size and investment objectives is structured according to the following model:

Cash			XXX%
Fixed Income Securities
1. Canada	XX%
2. Denominated in foreign currency	XX%		XXX%
Equity Securities
3. Canada	XX%
4. USA	XX%
5. Europe	XX%
6. Asia	XX%
7. Emerging countries	XX%		XXX%
			XXXX%

 

As a portfolio manager, much of our effort is concentrated on managing the overall composition of the portfolios (cash / fixed income securities / stocks, duration of fixed income securities, international diversification, sectoring, etc.). Our obsession with asset allocation stems from the following:

1. over the long-term, 90% of portfolio returns are the result of the various asset allocation decisions taken and not from the selection of specific securities. That is why, as a portfolio manager, a significant portion of our time is spent reading and thinking about market trends and about what elements might influence the value of asset categories;

2. the main asset that the investment advisor can have in managing his client's portfolio is a complete understanding of the client's situation. This knowledge allows the advisor to recommend the appropriate portfolio structure or, in other words, the correct asset allocation. The management of various portfolio components can be done by the advisor himself or delegated to a specialized manager, an investment fund or other. The investment advisor's contribution is significantly higher with respect to his role in asset allocation rather than his role in the choice of securities; and

3. the selection of the optimal asset allocation and its maintenance over time will allow to control the level portfolio risk. The client's comfort level will increase and consequently so will that of the investment advisor.

We suggest the same investments (aside from considerations relating to the size of the portfolio) to all customers sharing the same investment objectives. Clients who wish to buy some securities on their own are responsible for monitoring them and for communicating with us when they wish to dispose of them; these securities are maintained in a distinct account and not in the managed one.

We are committed to offering the best service possible with every new client we accept. Whatever the size of his/her portfolio, it will always be managed with the same care and professionalism. Portfolio management is very democratic and is not affected by considerations beyond the meeting of objectives.