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Who We Are
 
 
 
About Us An overview of our organization
History Historical time line of CC&L Investment Management
People Team structure, personnel and biographies
Corporate Brochure Access our corporate brochure
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 Group Income and Growth

Investment Objective

  • Maximize long-term total return while protecting the capital value of the fund from major market fluctuations by investing in a diversified portfolio of primarily income oriented equity instruments.
  • Generate returns in excess of the return of a benchmark of 25% FTSE TMX Canada All Corporate Bond Index and 25% S&P/TSX Capped REIT Index and 50% S&P/TSX Composite Index.

Highlights

  • Diversified across three major income and growth oriented asset classes
  • Focused on adding value, mindful of capital preservation
  • Limited exposure to commodities to reduce volatility
  • Deep, stable team with long track record

Investment Philosophy

  • Macroeconomic themes influence markets over longer term
  • Opportunities exist when fundamentals vary from consensus expectations
  • All capitalization coverage maximizes breadth of opportunities
  • Multiple asset classes offer greater opportunities to add value and diversification
  • Price attractiveness and valuation are key
  • Risk management is 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: Combining fundamental equity research and credit analysis focused on sustainable, distributable cash flow, capital preservation and quality of  management
  • 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

  • The portfolio generally holds fixed income securities along with dividend paying equities, REITs, income trusts, and preferred shares with superior total return prospects backstopped by a proven commitment to return capital to shareholders.
  • Fundamental analysis assesses business risk, liquidity and valuation risk and sustainability of distributable cash flow.
  • Fixed income securities including high yield bonds are used as a source of diversification, safety and yield.
  • Risk management is part of the investment process, not an afterthought
  • Strict position limits on individual security weights

Contact us

Vancouver

604-685-2020

Toronto

416-862-2020

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