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About Us An overview of our organization
History Historical time line of CC&L Investment Management
People Team structure, personnel and biographies
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CC&L in the Community CC&L’s involvement with charitable and professional organizations
Affiliated Companies Access our affiliates
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
Client Services Our approach and commitment to servicing our clients
Responsible Investing Our approach to Responsible Investing
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CC&L Equity Income & Growth Plus

Investment Objective

  • Construct a portfolio of primarily income-oriented equity instruments focused on maximizing the long-term total return while generating a portfolio yield in excess of that of the S&P/TSX Composite Index.
  • Maintain total risk below that of the S&P/TSX Composite Index over long-term periods.


  • Core approach. Diversified and carefully risk managed.
  • Fundamental, bottom-up security selection.
  • Proprietary company database.
  • Integrates US securities to increase diversification.

Investment Philosophy

  • Macroeconomic themes influence markets over longer term.
  • Opportunities exist when fundamentals vary from consensus expectations.
  • Price attractiveness and valuation are key.
  • Risk management is an integral component of process.

Investment Process

  • Disciplined, conservative process: Investment process that strives to deliver protection of capital in “down” markets, good participation in “up” markets, and stable cash flows.
  • Fundamental ranking system: Universe focused on yield-oriented securities ranked on key factors including financial and management strength, profitability, growth and price attractiveness.
  • Independent bottom-up research: Understanding companies’ business models and long-term operating strategies.
  • Management interviews: Confidence gauged through management interviews, on-site visits and discussions with sell-side research analysts, customers and competitors.
  • Strategic outlook: Each business evaluated in context of its industry and competitive environment
  • Target prices: Price targets established and reviewed weekly to ensure consistent application of buy and sell discipline.
  • Top-down overlay: Historical and current valuations and macroeconomic factors shape sector overweight or underweight decisions.

Portfolio Construction & Risk Management

  • The portfolio generally holds dividend paying equities, REITs, income trusts and preferred shares with positive total relative return prospects and the team’s highest target returns.
  • Fundamental analysis assesses business risk, liquidity and valuation risk.
  • Portfolio construction strikes a balance between securities with dividend growth and high and sustainable yield.
  • Risk management is part of the investment process, not an afterthought.
  • There are strict position limits on individual security weights.

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