Strategy Overview

Strategy Description

With a duration similar to the benchmark, we invest in a strategic allocation focused on the yield curve and sectors. Our objective is to produce a stable added value over rolling four-year periods with an information ratio greater than 0.50. Our decision-making process also incorporates tactical decisions and an optimization of the security selection process in relation to portfolio positioning. The portfolio generates a higher yield to maturity than its benchmark by maintaining an overweight position in provincial, municipal and corporate bonds (less than 10 years), combined with a bullet positioning on the yield curve. These sources of value added are negatively correlated with each other and with the direction of interest rates.

Key Differentiators

  • Consistency and solid performance in different types of market environments
  • Strong risk-adjusted returns as reflected by an excellent Information Ratio
  • Positive carry through long term investment decisions
  • High quality portfolio with conservative approach to corporate bonds selection
  • Continuous and rigorous risk management through disciplined investment process

Disclaimer

Nothing on this website should be viewed as a recommendation, offer or solicitation to buy or sell any security or investment and does not constitute investment, legal, tax or accounting advice. Services are offered only to qualified investors and only in accordance with applicable laws and regulations in each relevant jurisdiction. Information is believed to be accurate as of the publication date but may change without notice; no warranty is provided, and Fiera Capital and its affiliates disclaim liability for its use.

Past performance is not a guarantee of future results. Inherent in any investment is the potential for loss. Target returns are aspirational, forward-looking and do not represent actual performance. There is no guarantee that such performance will be achieved, and actual results may vary substantially. Metrics (e.g., exposures, ratios, characteristics) are for reference only and may not capture all relevant factors. Different metrics may lead to materially different conclusions; Any specific holdings mentioned are for illustration only, and may not represent the full portfolio, past holdings, or future positions. Indices are unmanaged, not investable, and do not reflect fees or expenses. Index comparisons are provided for context and portfolio holdings may differ significantly from those of any index; All investment strategies involve risks, including market, economic, financial, operational, liquidity, valuation, and regulatory risks. Certain strategies may use leverage, derivatives, or concentrated exposures, which can increase volatility and risk of loss; No strategy, diversification approach, or risk management technique can eliminate risk, or guarantee returns in all market environments; Investors should review relevant governing documents and consult their own advisers before making investment decisions.

Environmental, social, governance (“ESG”) or impact related goals, commitments, or initiatives referenced on this website are voluntary, may not apply uniformly across strategies, and may be modified or discontinued at Fiera Capital’s discretion. ESG-related processes do not guarantee any specific investment outcome.