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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
Our Strategies
Investment Strategies Access detailed information on our full range of strategies
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CC&L Group Fundamental Canadian Equity

Investment Objective

  • Generate returns equal to the return of the benchmark, S&P/TSX Capped Composite Index, plus 2% per annum over a market cycle.
  • Maximize long-term total return while prudently managing investment risk relative to the benchmark.


  • Core approach. Diversified and carefully risk managed.
  • All-cap. Full universe of opportunities.
  • Fundamental, bottom-up security selection.
  • Proprietary database covering 400+ stocks.
  • Deep, stable team with long track record.
  • ESG considerations integrated into the strategy.

Investment Philosophy

  • Macroeconomic themes influence markets over longer term.
  • Opportunities exist when fundamentals vary from consensus expectations.
  • All capitalization coverage maximizes breadth of opportunities.
  • Disciplined fundamental approach to security selection.
  • Price attractiveness and valuation are key.
  • Risk management is integral component of process.

Investment Process

  • Fundamental ranking system: Universe 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 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 disciplines.
  • Top-down overlay: Historical and current valuations and macroeconomic factors shape sector overweight or underweight decisions.

Portfolio Construction & Risk Management

  • Risk management is part of the investment process, not an afterthought.
  • Proprietary risk models calibrated to each client’s objectives.
  • Portfolio weighted toward stocks with the greatest upside potential.
  • Fundamental analysis assesses business risk, liquidity and valuation risk.
  • Strict position limits on individual security weights.

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