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What We Do
Expertise Information about our experience and capabilities
Investment Approach Our approach to investment management, research, opportunities and risk
Investment Strategies Details about the investment services we offer
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CC&L Ultra Long Bond

Investment Objective

  • Generate returns equal to the return of the benchmark, FTSE Canada 20+ Strip Bond Index, per annum over a market cycle.


  • Diversified portfolio of high quality Canadian government bonds with terms generally exceeding 20 years.
  • Complements existing fixed income allocations to extend duration positioning in a liability-driven framework.
  • Proprietary risk modeling incorporating both risk and return in assessing opportunities.
  • Proven team based approach enhanced by unique skills and insights from other CC&L teams.

Investment Philosophy

  • Economic fundamentals drive markets.
  • Better decisions result when the evaluation of fundamental information is validated through research that proves the link between the data and movements in the market.
  • Research should be conducted continuously in order to allow the process to evolve with capital markets.
  • Risk management is fundamentally based and supported by quantitative tools.

Investment Process

  • Top-down, fundamentally based approach: In-depth macro-economically driven analysis validated by a disciplined research process resulting in interest rate and sector exposures.
  • Robust risk management: Proprietary fundamental process supported by quantitative tools requiring an ongoing dedicated research effort.

Portfolio Construction & Risk Management

  • Portfolio construction focused on sovereign and sub-sovereign debt.
  • Proprietary factor based risk model provides a granular estimate of all risks and are aggregated into a measure of overall portfolio risk.
  • Dedicated trading experts are solely focused on identifying the best implementation strategy. 
  • Robust controls measure and monitor active risk for every client, every day.

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