Lester Asset Management

Canadian Equity

Our Canadian “all-cap” Equity strategy uses a fundamental bottom-up approach. The portfolio is invested in 40 to 50 small, mid and large cap Canadian listed companies. Research is based on strict quantitative and qualitative criteria, and a sound understanding of each company and the industry in which each operates, complemented by our macro-economic outlook.

Our aim is to be different than the TSX Composite index and achieve higher than market returns with lower risk and low market correlation.

Canadian Fixed Income

Our Canadian Fixed Income strategy uses a fundamental top-down approach. The portfolio is invested in 40 to 50 holdings with a heavy weighting in higher yielding securities such as corporate bonds (both investment grade and non-investment grade convertible bonds and preferred shares. Duration is kept under 5 years with maturities laddered over a period of up to 10 years.

Our aim is to be different than the Canada Universe Bond index and generate higher returns with low volatility and moderate risk.

Our Canadian Equity investment philosophy is value-driven and opportunistic seeking to buy shares at a discount to a company's true worth, with the goal of realizing maximum shareholder value either through dividend increases, share buybacks, spin-offs or an outright sale. We think like long term shareholders, but are prepared to be activist if necessary.