67 WALL STREET, New York - December 12, 2013 - The Wall Street Transcript has just published its Top Ten Portfolio Manager Interviews of 2013 Report. This special feature contains expert industry commentary through in-depth interviews with highly experienced Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Top Ten Portfolio Manager Interviews of 2013
Companies include: Top Canadian Stock Picks
In the following excerpt from the Top Ten Portfolio Manager Interviews of 2013 Report, two experienced portfolio managers discuss their methodology for finding high yielding and low risk Canadian investments:
TWST: Overall, how would you say investing in Canada compares to the rest of the world in terms of finding good opportunities in today's environment?
Ms. Throop: Canada is a very concentrated market. A large portion of the market is financials and basic resources. If you favor basic resources, then Canada has a lot of excellent opportunities, because we have what we consider some of the best oil companies and certainly some of the best gold companies, and it's a low-political-risk country for that kind of business. But then, it's very thin in terms of other industries such as pharmaceuticals or staples. For those types of names we tend to go offshore.
Mr. Elliott: Regarding our investment philosophy, it's really geared to the nature of our clients, which are high net worth individuals with a minimum of $10 million per family. These people definitely have a strong preference for capital preservation. They would rather retain a dollar than earn a dollar if it came down to deciding on a risky investment. So we are really focused on capital preservation.
We also emphasize dividend yield and income in a number of the portfolios where we need to support specific client income requirements. We intentionally constrain speculative components down to less than a 10% weight in the portfolios. Essentially, it's really long-term capital appreciation and income.
And as Mary said, we look globally for large-cap, branded companies with strong competitive positions in their markets and proven management that can execute with some degree of consistency. We are not trying to shoot the lights out. We're trying to generate high-single-digit consistent returns year in and year out.
TWST: Would you discuss further the criteria you use when you're evaluating and selecting individual investments?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.