This Fund is subadvised by Beutel, Goodman & Company Ltd.

The BA Beutel Goodman U.S. Value Fund seeks to achieve capital appreciation by using bottom-up, fundamental research to invest in companies at discounts to their business value, defined as the present value of their sustainable free cash flow.

Investment approach

The Fund seeks to invest in companies at discounts to their business value, which the managers consider to be the present value of sustainable free cash flow. To identify these investment opportunities, the portfolio managers employ a disciplined, bottom-up investment process highlighted by rigorous, internally generated fundamental research. The Strategy’s investment team believes that stocks purchased at a significant discount to business value have an inherent margin of safety. This approach combined with a focus on quality, growing companies with strong balance sheets, helps avoid the possibility of capital loss.

  • Long-term: Require minimum expected return of 50% on initial investment over three years.
  • Concentrated portfolio with highest conviction ideas: Typically 25–35 holdings in a diversified portfolio.
  • The strategy incorporates a process-driven approach to risk management, where there is an automatic review for stocks that exceed their upside or downside targets. Stocks that exceed their upside target are automatically reduced by one-third.

Questions?

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