Fundamental means we focus on the economies, industries and companies in which we invest. We actively seek attractive investments and make an effort to identify longer-term trends and issues that will define the future.
Our team of engineers, geologists, health care practitioners and other experts study companies. They meet with them, compare them, talk to their clients and suppliers, and review their financials.
Our research includes the development of financial forecasts for each company considered with the cooperation of senior management. We believe this is an important part of our evaluation process, helping us better understand the various influences on profitability and possible changes.
In equity investments, we focus on companies that have strong balance sheets, steady cash flow, solid dividend yields and the prospect for appreciation on the strength of improved performance and market re-valuation over a three- to five-year time horizon.
In fixed income investments, we emphasize holding high quality bonds that meet the objectives of stability and income. We focus on studying the world and North American economies to develop views on future movements in interest rates to position the portfolios appropriately. We also spend time looking at individual securities and their particular attributes, such as credit risk, inflation protection, embedded options and other characteristics.
Independent for 30 years, Letko Brosseau has provided clients consistent outperformance.
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Billion in firm assets under management
Annualized returns over 30 years, and
Annualized benchmark outperformance
Performance results referenced above are annualized and presented in Canadian dollars gross of fees for the Letko Brosseau Global Balanced (Canadian Bias)
Composite. This $12.9 billion composite includes all discretionary balanced mandates with a bias towards Canadian equities and asset mix targets within the ranges
of 30-70% for fixed income and 30-70% for global equities. The benchmark is 5% FTSE TMX 91 day T-bill Total Return Index, 40% FTSE TMX Universe Bond Total
Return Index, 20% S&P/TSX Composite Total Return Capped Index and 35% MSCI World Total Return Net Index. The benchmark from January 1, 2001 to May 31,
2007 was 5% FTSE TMX 91 day T-bill Total Return Index, 40% FTSE TMX Universe Bond Total Return Index, 30% S&P/TSX Composite Total Return Capped Index
and 25% MSCI World Total Return Net Index. The benchmark from January 1, 1988 to December 31, 2000 was 5% FTSE TMX 91 day T-bill Total Return Index, 40%
FTSE TMX Universe Bond Total Return Index, 35% TSE 300 Composite Total Return Index adjusted to cap the weighting of any associated group of equities at 10%
of the index and 20% MSCI World Total Return Net Index. Past performance does not guarantee future results.
*Peer comparison universe is the $650 billion RBC Investor & Treasury Services Canadian Defined Benefit Plans Universe, dated December 31, 2017.