Traditional Asset Classes

Canadian Core Equities — A diversified portfolio of publicly traded Canadian stocks. The selection process looks for companies with strong balance sheets, predictable growth and reasonable prices. The investment style is known as GARP (Growth at a Reasonable Price) as it contains elements of both growth and value styles. This portfolio typically holds 30-40 stocks.

Canadian Value Equities — A concentrated portfolio of Canadian stocks selected with a value oriented investment style. This means the investment team focuses on selecting companies with attractive prices in relation to their fundamental earnings outlook. Stocks are selected if their underlying value is not yet reflected in the stocks price. This portfolio typically holds 25-30 stocks.

Canadian Small Cap Equities — A broadly diversified portfolio of Canadian small capitalization stocks. This generally means companies that vary in size between $150 million and $1 billion when measured by market capitalization. Stocks are selected using a growth investment style. Small Cap companies offer investors attractive growth prospects that are in many cases not available from larger more mature companies. The portfolio typically contains 50-75 stocks.

Global Small Cap Equities — A broadly diversified portfolio of non-Canadian small capitalization stocks. The size of the companies in this portfolio are generally between $150 million and $2.5 billion when measured by market capitalization. Stocks are selected using a core investment style. Small Cap companies offer investors attractive growth prospects that are in many cases not available from larger more mature companies. The portfolio typically contains between 40 and 60 stocks.

International Equities — A concentrated portfolio composed primarily of securities from the developed stock markets outside North America. Utilizing a growth approach, the investment process favors companies that are attractively priced and poised to deliver increased cash earnings. The portfolio typically holds up to 50 stocks.

US Equities — A concentrated portfolio composed of US stocks. Utilizing a value approach, the investment process favors companies that are attractively priced and poised to deliver increased cash earnings. The portfolio is focused on Large cap names and typically contains up to 50 stocks.

Corporate and Government Bonds — A broadly diversified portfolio of high quality fixed income securities designed to maximize long-term return while protecting capital in times of rising interest rates. In addition to the management of interest rate exposure, the investment process also incorporates active credit analysis of corporate bonds and allows for up to 100% commitment to the corporate bond market depending on market conditions.

Money Market (Canadian or US) — A portfolio of high quality short-term debt securities designed to provide safety of principal and liquidity. The term of the securities, while kept less than 1 year, is varied based on our view of the interest rate environment and high-quality corporate issues are included when priced attractively. Both strategies are employed to increase current yield while maintaining a focus on quality and liquidity.

Short-Term Bonds — A broadly diversified portfolio of high quality short-term fixed income securities designed to maximize short-term return while protecting capital in times of rising interest rates. In addition to the management of interest rate exposure, the investment process also incorporates active credit analysis of corporate bonds and allows for up to 100% commitment to the corporate bond market depending on market conditions.