Flexible, tailored portfolio solutions

At HTPAM, each client has their own portfolio that is managed separately from other client accounts. Known as a segregated account, this type of account enables us to create a completely customized portfolio for you, in accordance with your unique objectives, guidelines and constraints. Specific requests may also be accommodated, such as individual tax strategies or including or excluding certain types of securities.

Investment Philosophy - Equity

Our investment process is based on value investing, because it provides a consistent, statistically grounded approach to the analysis of investment opportunities. Using a bottom up portfolio management approach, we focus on companies whose stock prices are trading below their intrinsic or fair market value. Our investment philosophy is based on the view that, while in the long term the markets will price a company’s stock correctly, there can often be mispricing in the short term. This can occur for many reasons, but is often related to investors’ over-optimism or over-pessimism concerning a company, based on its most recent reported results rather than its fundamental future prospects. We ensure that portfolios are properly diversified at all times.

Investment Philosophy - Fixed Income

Our fixed income process employs a top-down portfolio management approach. Through detailed fundamental analysis, our view of the current and future economic environment, inflation, and corresponding central bank policy actions allows us to structure bond portfolios to capitalize on future interest rate and credit spread movements. Positions may include lengthening or shortening portfolio duration, adjusting yield curve exposures to capture yield curve twists, and increasing and decreasing sector weightings (federal, provincial, corporate).

We also employ individual credit analysis to determine which corporate credits are improving or deteriorating from a default risk point of view. Sound credits are compared against other investment opportunities to capture the best relative value from both a historical valuation and a forward looking, break-even point of view.