Phillipe Côté

Provides brokerage services

Standard Life Investment Canada's (SLIC) investment process combines asset allocation, stock selection, portfolio construction, risk management and trading. Their research is based process seeks the early identification of changes in the key drivers that affect markets and the factors that are likely to cause shifts in the investment environment. SLIC's process is supplemented by analysis of the key drivers of the p[rice and what expectations for these drivers are currently priced in the investment. The firm then considers what is changing and whether these changes will lead to revised market expectations and a revised share price. The firm's Asset Mix Strategy Committee sets the overall investment strategy for their balanced mandates. The Committee examines broad economic, fundamental, technical, quantitative market and industry data to ensure that portfolios are appropriately structured. The recommended asset mix is based on a 12 to 18 month outlook. SLIC's portfolio management team is responsible for the implementation of the asset mix strategy. The firm manages a variety of portfolios with different styles, objectives and constraints. Portfolio construction responsibilities are allocated to a number of equity portfolio teams covering core, small cap-focused and income portfolios. SLIC's fixed-income investment approach is based on interest rate anticipation and is enhanced by active trading that seeks to exploit anomalies in the valuation of individual issues or market sectors. Investments are of high-quality and liquidity, so that the portfolio can be restructured as expectations and relative values change.

SIPAR believes that the quality of their portfolios is based on their rigorous selection process for target companies. Thorough analysis of the strategic plan, detailed examination of financial reports and a study of the company's financial history are undertaken during the due diligence process in order to confirm the quality of the execution of the management team. In-house financial models, based on established valuation parameters, for each company determine an estimated target price, an accurate risk valuation and an assessment of the expected returns. A final decision on the investment parameters concludes the due diligence process, which is periodically re-implemented to re-evaluate companies in SIPAR's portfolios. They select companies with outstanding fundamental qualities that can potentially generate above sector-average growth. They seek Québec-based companies (public or going public) starting from a small capital base and targeting a dominant niche market position using the following criteria: a reliable management team, corporate governance in accordance with TSX guidelines, growth companies believed to have potential to become market leaders, undervalued companies and companies in turn-around situations.

Integrated Financial Management (IFM) is a value manager that manages customized portfolios of equity, fixed-income and alternative investments that are based on each client's individual objectives, risk tolerance, time horizon, tax circumstances and liquidity requirements. The firm primarily uses individual securities as opposed to mutual funds, ETFs or other similar types of securities. Though not limited by sector, IFM tends to invest in the stocks of companies of all market-caps in the technology, services, communications and industrial services sectors. IFM selects securities based on their in-house, bottom-up research approach that analyzes companies of all market-caps, industries and sectors. They invest only in companies in which they believe there is a value to be gained. For diversification and to minimize risk and maximize returns, IFM also makes fixed-income and alternative investments. The firm's research process seeks to determine a fair value for an investment and to purchase it at a significant discount to that figure. They carefully monitor investments and employ strict guidelines for action if a stocks price hits certain levels on both the downside and upside. The firm performs in-house fundamental research to identify companies that are undervalued relative to their underlying growth prospects or future earnings potential. IFM does not restrict investments to companies of a certain size or industry. IFM's equity investment strategy is based on basic premises: (1) the value of a business is equal to the present value of its future cash flows and (2) Over time, the price and value of a company will converge. When evaluating an equity investment, the firm seeks to understand the company's balance sheet and income statement, as well as, the company's growth drivers and operational strengths. They look for companies with an established history of operating success with good growth prospects and a sustainable competitive advantage in their industry. IFM also looks for companies with above-average returns on invested capital. Free cash flow is also a significant criterion because it is the means by which management can create shareholder value. Once they have identified a company that meets their criteria, IFM uses a proprietary in-house valuation model to determine its fair price. Based on the determination of the company's intrinsic value, the firm then looks to purchase its stock at a discount to that value. IFM's fixed-income investment strategy is based on the idea that fixed-income investments can play an important role in nearly every portfolio, depending on the client's needs and the investments characteristics. The firm uses fixed-income investments to provide a steady stream of income, to reduce the overall risk level of a portfolio and to preserve capital, particularly when equity markets are weak. IFM seeks to maximize income generation by investing in a variety of fixed-income vehicles including taxable and tax-exempt bonds, agency bonds, inflation-protected bonds, preferred stocks and step-up bonds. To reduce overall portfolio volatility, they invest in high-credit-quality investments that have lower price volatility and a lower chance of default. The types of bonds they invest in are determined based on the current and anticipated future interest rate environment and the average length of time before those bonds mature. IFM also provides access to investments in non-traditional asset classes including hedge funds, fund-of-funds, private-equity funds, real estate and structured products.

Functions as a College/University

Functions as a College/University