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Investing in quality and long-term value
The last month of 2018 was a difficult one for equity investors, but for Joe Jugovic, it was a perfect opportunity to top up his positions in some of his favourite value names.
February 2019
Investing in quality and long-term value
The last month of 2018 was a difficult one for equity investors, but for Joe Jugovic, it was a perfect opportunity to top up his positions in some of his favourite value names. In this video, he identifies key areas of the market he believes are best positioned for attractive returns in the months ahead. He also discusses his outlook for value, identifies key risk factors and explains why he believes IA Clarington Global Equity Fund continues to be an excellent choice for investor portfolios.
Video Chapters
- Were you adding to positions during the market sell-off? (Duration 0:45)
- Why do you continue to favour financials? (Duration 0:40)
- What is your outlook for value? (Duration 0:55)
- What are you keeping an eye on? (Duration 0:55)
- What are some positives? (Duration 1:10)
- Why now for IA Clarington Global Equity Fund? (Duration 0:45)
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Investing for long-term value
Market turbulence and economic headwinds have many investors on edge...
January 2019
Investing for long-term value
Market turbulence and economic headwinds have many investors on edge. But for Ian Cooke, these bumps in the road are a source of opportunity for those playing the long game. In this video, Ian discusses the challenges he believes investors will face in 2019 and identifies areas of the market where he expects to find attractive opportunities for long-term value.
Read summaryLire le sommaireVideo Chapters
- What are the biggest challenges in 2019? (Duration 0:35)
- What are your thoughts on the Canadian economy and markets? (Duration 0:55)
- Why has there been so little investor interest in Canadian equities? (Duration 0:40)
- What sectors are you currently favouring in the Fund? (Duration 0:30)
- Were you putting cash to work in a volatile Q4 2018? (Duration 0:25)
- What helps in difficult markets? (Duration 0:30)
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A look back at 2018, and ahead to 2019
This past year was a challenging one for investors, but Clément Gignac believes opportunity lies on the other side of recent volatility.
January 2019
A look back at 2018, and ahead to 2019
This past year was a challenging one for investors, but Clément Gignac believes opportunity lies on the other side of recent volatility. In this video, he looks back at why markets had a difficult year, and explains why he believes EAFE and emerging market equities appear poised for a strong 2019. He also identifies key risks he’ll be monitoring, and discusses why he believes a recession is unlikely in the U.S. next year.
Read summaryLire le sommaireVideo Chapters
- What surprised you most in 2018? (Duration 0:35)
- Where are the opportunities in 2019? (Duration 1:00)
- What will you be closely monitoring next year? (Duration 0:40)
- What do you believe are the key drivers of recent market volatility? (Duration 0:30)
- What do you believe needs to happen for the business cycle to continue? (Duration 0:55)
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Positioning for a strengthening economy
Rising rates are a sign of late-cycle economic strength, and historically that means value stocks are poised to outperform. In this video, David Taylor provides an update on what he’s seeing in the economy and markets and touches on some of the big issues making headlines, including the trade war and energy price weakness.
December 2018
Positioning for a strengthening economy
Rising rates are a sign of late-cycle economic strength, and historically that means value stocks are poised to outperform. In this video, David Taylor provides an update on what he’s seeing in the economy and markets and touches on some of the big issues making headlines, including the trade war and energy price weakness.
Read summaryLire le sommaireVideo Chapters
- What are your thoughts on the recent market volatility? (Duration 0:40)
- Is the trade war impacting the stock market? (Duration 0:40)
- What are some positive indicators? (Duration 0:35)
- Are you still bullish on Canadian equities? (Duration 0:45)
- Why do energy stocks remain weak? (Duration 0:40)
- What are your thoughts on the recent move in interest rates? (Duration 0:40)
- Will rising rates benefit value stocks? (Duration 0:50)
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Buying the dips in a maturing cycle
Many investors are concerned about recent market volatility, but not so for portfolio manager Peter Prattas.
November 2018
Buying the dips in a maturing cycle
Many investors are concerned about recent market volatility, but not so for portfolio manager Peter Prattas. In this video, Prattas explains why he views the equity market sell-off as an opportunity to generate enhanced long-term value. He also discusses areas of the market he’s favouring and avoiding as the cycle matures; disruptive themes with potential for outsized risk-adjusted returns; the increased relative attractiveness of the Canadian equity market; and the key pillars of his investment process.
Read summaryLire le sommaireVideo Chapters
- Are you concerned about the recent volatility? (Duration 1:00)
- Is the global economic recovery at risk? (Duration 0:30)
- Where do you believe we are in the economic cycle? (Duration 0:30)
- Are you continuing to invest in companies that are part of disruptive trends? (Duration 1:40)
- With the trade deal completed, do you believe Canada has become more attractive? (Duration 0:45)
- Can you describe your investment process? (Duration 0:30)
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Finding opportunity in an elevated risk environment
Market volatility and slowing global economic growth are widening the gap between winning and losing asset classes and securities....
November 2018
Finding opportunity in an elevated risk environment
Market volatility and slowing global economic growth are widening the gap between winning and losing asset classes and securities. That makes an active, highly selective approach more important than ever. In this video, portfolio manager Agam Sharma discusses where he’s finding attractive opportunities across the asset class spectrum and explains how he has positioned IA Clarington Global Multi-Asset Fund for an investment environment marked by higher levels of risk.
Read summaryLire le sommaireVideo Chapters
- Has recent volatility changed your perspective? (Duration 1:15)
- Why does PineBridge believe this is a medium-risk bull market? (Duration 1:00)
- What are you currently favouring within equities? (Duration 0:45)
- What are you currently favouring within fixed income? (Duration 1:30)
- What are your thoughts on the slowing of the global economy? (Duration 0:50)
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Positioning for value's resurgence
Growth stocks have been outperforming for some time, but conditions are ripe for a rotation into value...
October 2018
Positioning for value's resurgence
Growth stocks have been outperforming for some time, but conditions are ripe for a rotation into value, portfolio manager Pierre Trottier suggests in our latest Active Insights video. He also explains why he continues to overweight financials and avoid bond proxies; how he’s using covered calls in IA Clarington U.S. Dividend Growth Fund; and some of the key allocation decisions he’s made in IA Clarington Global Value Fund.
Read summaryLire le sommaireVideo Chapters
- Why do U.S. equities remain compelling? (Duration 1:05)
- Why are you overweight financials? (Duration 1:20)
- Why no investments in the bond proxies? (Duration 0:35)
- Are you currently using covered call options in IA Clarington U.S. Dividend Growth Fund? (Duration 0:35)
- Can you provide an update on the positioning of IA Clarington Global Value Fund? (Duration 1:35)
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Capturing alpha opportunities across the market cycle
In this wide-ranging video commentary, Eileen Riley provides an update on the performance of IA Clarington Global Allocation Fund...
October 2018
Capturing alpha opportunities across the market cycle
In this wide-ranging video commentary, Eileen Riley provides an update on the performance of IA Clarington Global Allocation Fund, identifies some of the top contributors to year-to-date returns, and highlights a recent addition to the Fund. She also explains how the Fund aims to benefit from simmering trade tensions, the steps she is taking to position the equity portion of the portfolio for potential new regulations on the U.S. technology sector, and the investment implications of the strong and rising U.S. dollar.
Read summaryLire le sommaireVideo Chapters
- What has been driving returns this year for the equity component of the Fund? (Duration 0:30)
- Has the equity component of the Fund been impacted by trade war fears? (Duration 0:35)
- Will the upcoming GICS changes affect the equity component of the Fund? (Duration 0:25)
- Are you concerned about calls for new regulations on tech companies? (Duration 0:35)
- Can you highlight a new addition to the Fund? (Duration 0:25)
- What has been driving returns this year for the fixed-income component of the Fund? (Duration 0:25)
- How has the rising U.S. dollar affected the Fund? (Duration 0:40)
- Why now for IA Clarington Global Allocation Fund? (Duration 0:45)
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Challenges and opportunities in fixed income
Rising interest rates and widening spreads have been major headwinds for many fixed-income funds recently...
August 2018
Challenges and opportunities in fixed income
Rising interest rates and widening spreads have been major headwinds for many fixed-income funds recently, but Jeff Sujitno is still optimistic about the prospects for the credit markets, and in particular for senior loans and a wide range of investment grade securities. In this video, Jeff explains the rationale for his positive outlook and covers a number of topics that are top of mind for credit investors, including the economy, interest rates, default rates, and senior loan repricing activity.
Read summaryLire le sommaireVideo Chapters
- What are some current challenges within fixed income? (Duration 0:30)
- How concerned are you about widening spreads? (Duration 1:10)
- What are your thoughts on GICs? (Duration 0:35)
- Can you provide an update on the senior loans market? (Duration 1:15)
- How are you positioning the Funds? (Duration 0:55)
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Flexible options for a mid-cycle environment
Many industry analysts suggest we’re in the later stages of the current market cycle...
July 2018
Flexible options for a mid-cycle environment
Many industry analysts suggest we’re in the later stages of the current market cycle, but Michael Kelly of PineBridge Investments believes we’re actually in a mid-cycle environment. In this video, Michael explains some of the key reasons why he’s taken this view, and discusses some of the income-generating asset classes he believes are poised to benefit from current conditions. He also discusses his interest rate and macro outlook, and explains why PineBridge uses a nine- to 18-month time horizon when making asset allocation decisions.
Read summaryLire le sommaireVideo Chapters
- At the half-year mark, what is the most positive story? (Duration 0:30)
- Why is the global output gap a key indicator? (Duration 0:55)
- What is your view on interest rates? (Duration 0:55)
- What areas of fixed income do you currently favour? (Duration 0:40)
- What's detracted from recent performance? (Duration 1:10)
- Why does PineBridge take an intermediate-term view in asset allocation? (Duration 0:45)
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Unearthing value opportunities across the globe
Being a disciplined value investor requires an ability to break from the crowd and invest amid widespread pessimism...
July 2018
Unearthing value opportunities across the globe
Being a disciplined value investor requires an ability to break from the crowd and invest amid widespread pessimism. In this video, Brad Radin begins by explaining why Brexit-related fears have led many investors to ignore what he believes are attractive opportunities in the U.K. He then discusses why he’s overweight China and Hong Kong, and shares some recent stock picks in his top-two sectors: consumer discretionary and industrials. Brad concludes with a discussion of the long-term advantage value investing has had over growth, and shares some key valuation metrics for IA Clarington Global Opportunities Fund.
Read summaryLire le sommaireVideo Chapters
- What is your view on European stocks? (Duration 0:35)
- What is your view on China and Hong Kong? (Duration 0:25)
- In which sectors are you finding opportunities? (Duration 0:30)
- What's a stock you like in the consumer discretionary sector? (Duration 0:35)
- Whats a stock you like in the industrials sector? (Duration 0:40)
- Can you comment on the challenge for value investors? (Duration 0:50)
- What are the valuations of the Fund's holdings? (Duration 0:25)
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Finding opportunities in a maturing cycle
We’re well into the advanced stages of the business cycle and bull market, but Clément Gignac believes there’s little reason to worry about a recession or major market downturn. ..
June 2018
Finding opportunities in a maturing cycle
We’re well into the advanced stages of the business cycle and bull market, but Clément Gignac believes there’s little reason to worry about a recession or major market downturn. In this video, he explains why his outlook for the next two years is very positive overall, and where he expects to find the best opportunities. Clément also discusses the risks he’s watching most closely, and what he’s doing to limit downside should those risks materialize.
Read summaryLire le sommaireVideo Chapters
- What is your big picture view? (Duration 1:15)
- What's the biggest risk? (Duration 0:40)
- How are you managing risk? (Duration 1:05)
- Why might this bull market continue? (Duration 0:45)
- When will rising yields affect equities? (Duration 0:30)
- What are some recent tactical moves you've made? (Duration 0:55)
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Thinking outside the equity style box
Outperforming the market requires fresh, original thinking that ignores the constraints of conventional approaches to assessing a stock’s value...
June 2018
Thinking outside the equity style box
Outperforming the market requires fresh, original thinking that ignores the constraints of conventional approaches to assessing a stock’s value. That’s why Eileen Riley and Lee Rosenbaum don’t let themselves get boxed into a style category, whether it’s value, growth or GARP (growth at a reasonable price). In this video, Eileen and Lee explain why they focus on understanding businesses, what drives alpha and capturing it with a portfolio of their best ideas . They also discuss current Fund positioning and how a skilled active manager can make an opportunity of one of the key risks faced by equity investors today.
Read summaryLire le sommaireVideo Chapters
- Why do you maintain a high U.S. equity weighting? (Duration 0:40)
- Do you view the equity component of the Fund as overvalued? (Duration 1:25)
- What is the biggest risk? (Duration 0:50)
- What are some of your sector overweights? (Duration 1:30)
- Why do you prefer not to be defined by the equity style box? (Duration 0:50)
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Opportunity and risk in global fixed income
The global bond market is much more favourable today than it was two years ago, but it remains a highly challenging environment that calls for deep research and a selective approach...
June 2018
Opportunity and risk in global fixed income
The global bond market is much more favourable today than it was two years ago, but it remains a highly challenging environment that calls for deep research and a selective approach. In this video, David Rolley explains the key risk factors for bond investors, and identifies some of the more attractive opportunities his rigorous investment process has uncovered. He also offers insights on the current state of the yield curve and Federal Reserve rate hikes.
Definition of termsRead summaryLire le sommaireVideo Chapters
- What is the biggest risk for fixed income? (Duration 0:40)
- How concerned are you about the yield curve? (Duration 0:55)
- Where are the opportunities? (Duration 1:05)
- How do you view higher interest rates? (Duration 1:20)
- Why do you prefer taking security-specific risk rather than market risk? (Duration 0:35)
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Finding opportunity in transformative change
The conditions businesses are operating in are transforming rapidly, with wide-ranging consequences for investors...
June 2018
Finding opportunity in transformative change
The conditions businesses are operating in are transforming rapidly, with wide-ranging consequences for investors. In this video, Michael Kelly explains how three key trends – reflation, distortion and disruption – are reshaping the landscape for both equity and fixed-income investors. He identifies what he believes are the areas of the market that will benefit from these changes, and explains why he believes an outcome-focused, multi-asset approach is especially well suited to the current environment.
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Finding opportunities to invest responsibly
Today’s challenging markets will test even the most seasoned stock pickers, but the right process can help...
April 2018
Finding opportunities to invest responsibly
Today’s challenging markets will test even the most seasoned stock pickers, but the right process can help investors find opportunities with both strong prospects for future growth and the environmental, social and governance (ESG) credentials socially responsible investors are looking for. In this video, Andrew Simpson shares his insights on areas of the market where he sees long-term growth potential, and identifies the key risks equity investors need to be mindful of in the months ahead.
Read summaryLire le sommaireVideo Chapters
- How comfortable are you with equity market valuations? (Duration 0:30)
- What is the biggest risk right now? (Duration 0:50)
- What sectors are you currently favouring in the IA Clarington Inhance Global Equity SRI Class? (Duration 0:45)
- Can you highlight a recently added holding? (Duration 0:35)
- What are your thoughts on Canadian equities? (Duration 1:05)
- Are you still able to find opportunities? (Duration 0:25)
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Time to embrace socially responsible investing (SRI)
The growing popularity of SRI is no accident, as more and more investors now understand ...
April 2018
Time to embrace socially responsible investing (SRI)
The growing popularity of SRI is no accident, as more and more investors now understand that it can match or beat conventional methods of security selection. In this video, Dermot Foley and Jeffrey Lew of Vancity Investment Management Ltd. (VCIM) explain how an active approach can add significant value for socially responsible investors. They also discuss VCIM’s shareholder engagement and climate strategies, the burgeoning green bond market, and why the proliferation of socially responsible mutual funds validates VCIM’s pioneering role in the development of SRI in Canada.
Read summaryLire le sommaireVideo Chapters
- Why active management for SRI? (Duration 0:55)
- What are some of Vancity’s recent shareholder engagement initiatives? (Duration 1:15)
- Can you discuss the development of Vancity’s climate strategy? (Duration 0:55)
- How’s the market for green bonds developing? (Duration 0:40)
- Why is due diligence so important when selecting an SRI portfolio manager? (Duration 0:40)
- Can you describe Vancity’s culture? (Duration 0:25)
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Sticking with the process
Finding value in today’s small-cap market is no simple task, but with the right process...
April 2018
Sticking with the process
Finding value in today’s small-cap market is no simple task, but with the right process, investors can zero in on opportunities with long-term growth potential. In this video, Ian Cooke identifies what he believes are the most attractive areas of the Canadian small-cap market, and explores the key features of some of his favourite stocks. He also explains how his disciplined process helps mitigate a key risk in the current environment, and provides an update on the recent performance of IA Clarington Canadian Small Cap Fund.
Read summaryLire le sommaireVideo Chapters
- Is there value in Canadian small caps right now? (Duration 0:40)
- What are the Fund's largest sector allocations? (Duration 0:25)
- Can you discuss a favourite holding? (Duration 0:45)
- What are your thoughts on the energy sector? (Duration 0:40)
- What is one of your top energy sector names? (Duration 0:55)
- What do you view as the biggest risk? (Duration 0:50)
- Can you comment on recent performance? (Duration 0:45)
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Finding opportunities in a mature equity market
Global equity market valuations are high, but there’s still value to be had...
April 2018
Finding opportunities in a mature equity market
Global equity market valuations are high, but there’s still value to be had. In this video, Joe Jugovic offers his outlook for equities and explains why he believes the U.S. financials sector is one of the most attractive areas of an otherwise overvalued market. He also shares one of his favourite energy stock picks and discusses some recent moves he’s made in IA Clarington Global Equity Fund.
Read summaryLire le sommaireVideo Chapters
- What are your thoughts on global equity market valuations? (Duration 1:05)
- Can equity markets continue to rise? (Duration 1:00)
- Why do you like the financials sector? (Duration 0:55)
- What’s an attractive energy name in the Fund? (Duration 0:45)
- What are some recent moves you’ve made in IA Clarington Global Equity Fund?(Duration 0:25)
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Tailwinds for the high-yield bond market
Synchronized global economic growth and healthy fundamental conditions make high-yield corporate bonds...
March 2018
Tailwinds for the high-yield bond market
Synchronized global economic growth and healthy fundamental conditions make high-yield corporate bonds an attractive choice for fixed-income investors, both in absolute terms and relative to investment grade alternatives. In this video, Dan Bastasic explains why he expects high-yield bonds to post a coupon-like total return of 5–6% for 2018, and discusses why recent market volatility has translated into buying opportunities for IA Clarington Strategic Corporate Bond Fund.
Read summaryLire le sommaireVideo Chapters
- What is the state of the high-yield bond market? (Duration 0:55)
- What about the fundamentals? (Duration 0:40)
- What are your expectations for high-yield bonds in 2018? (Duration 0:35)
- What’s your outlook for U.S. interest rates? (Duration 0:45)
- Did you deploy cash during the February correction? (Duration 0:55)
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Equities have room to run
It wasn’t so long ago that investors feared the U.S. equity market was overheated and out of gas...
March 2018
Equities have room to run
It wasn’t so long ago that investors feared the U.S. equity market was overheated and out of gas. In this video, Dan Bastasic explains why he believes U.S. stocks have a good chance of posting another year of double-digit returns. He also discusses the key factors underlying the valuation gap between U.S. and Canadian equities, and when he expects that gap to begin closing. In the final segment of the video, Dan explains why he saw the February correction as opportunity to unwind some of his defensive cash positioning.
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Sticking to the discipline
It’s never easy to go against the crowd, but that’s exactly what Larry Sarbit does...
February 2018
Sticking to the discipline
It’s never easy to go against the crowd, but that’s exactly what Larry Sarbit does when his tried-and-true value-oriented process requires it. In this video, Larry discusses the reasoning behind the core tenets of his investment philosophy, and why sticking to his discipline leads him to see the current market as one that offers very few buying opportunities. He also explains why he believes concentrated portfolios are key to generating significant wealth.
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Disruption yields opportunity
Companies have been sitting on piles of cash for years, but they’ve been reluctant to use it...
February 2018
Disruption yields opportunity
Companies have been sitting on piles of cash for years, but they’ve been reluctant to use it for capital investment. In this video, Michael Kelly explains why this is beginning to change, why this disruptive shift will widen the gap between ‘winners’ and ‘losers,’ and why that increased competitive distance makes active credit selection especially important in the period ahead. Michael also offers his outlook for interest rates and inflation, and explains why the Fed may have a surprise in store for the market in the second half of 2018.
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Room to run for the equity markets
Synchronized global economic growth is likely to continue through 2019...
January 2018
Room to run for the equity markets
Synchronized global economic growth is likely to continue through 2019, and that’s good news for equities. In this video, David Taylor explains why he thinks the Canadian equity market is especially well positioned to benefit from the current economic environment, and why he expects it to outperform the U.S. over the next three years. He also discusses his outlook for commodities, value vs. growth, and why his funds may be an excellent choice for equity investors.
Read summaryLire le sommaireVideo Chapters
- Can the global synchronized economic recovery continue? (Duration 0:25)
- Are Canadian equities still attractive? (Duration 0:50)
- What are your thoughts on commodities? (Duration 0:50)
- Will value outperform growth in 2018? (Duration 0:35)
- How have earnings been for the companies in your funds? (Duration 1:10)
- Why your funds and why now? (Duration 1:05)