Investment Objective

We seek to provide a steady flow of income by investing primarily in Canadian government and corporate fixed income securities and add value through security selection, longer-term positioning of the term-to-maturity and yield curve

Approach

• Strategy follows a value investment style utilizing both top down and bottom up approaches to issue selection
• Strategy allows the manager to capitalize on opportunities across the Canadian fixed income universe to create a portfolio well diversified across sectors, risk factors and investment horizons
• Will allocate to non-core fixed income (MBS, CMBS, Maple Bonds) as a way of diversifying and achieving more attractive yields
• Security selection is viewed as the primary driver of portfolio returns, with sector allocation decisions and macro strategies (term to maturity structure) also providing potential alpha
• Philosophy is tethered to the belief that corporate bonds provide a better risk/return result relative to government resulting in a historical overweight to corporate bonds
• Applies a "bucket" approach to security selection as the universe is viewed as groups of tightly correlated securities