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Canadian Core Equity Strategy

The strategy uses a bottom-up, style-agnostic approach to portfolio construction focused exclusively on Canadian equities. The team’s portfolio construction process is grounded in rigorous company-specific fundamental research, focusing on companies with sustainable business models that generate attractive and predictable free cash flows.

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Philosophy

The team believes that long-term stock returns are linked to attractive capital efficiency ratios and free cash flow yields. The process includes a proprietary method of calculating economic earnings and cash-based return on capital. The strategy is best characterized as style-neutral, bottom-up, and fundamental in nature.

Documents

Managed by

Patrick Blais, CFA, FSA

Senior Portfolio Manager, Fundamental Equity Team, Manulife Investment Management

In his role, Patrick is responsible for Canadian core equity strategies. Previously, he was a member of the growth equity team. Prior to joining the firm, he was a portfolio manager and analyst at KBSH Capital Management, focusing on international equities and before that he was a global senior equity and corporate debt analyst at Sun Life Financial. Patrick holds the Chartered Financial Analyst designation and is a Fellow of the Society of Actuaries.

  • Education: B.Sc., Actuarial Mathematics, Laval University; M.F., London Business School
  • Joined the company: 2010
  • Began career: 1998
Patrick Blais, CFA, FSA

Steve Bélisle, CFA

Senior Portfolio Manager, Fundamental Equity Team, Manulife Investment Management

Steve is a senior portfolio manager with the fundamental equity team and is responsible for its Canadian core equity strategies. He began his career at Standard Life Investments as a research assistant following his involvement in a Standard Life portfolio managed by business school students. Steve joined Manulife Investment Management when Standard Life's Canadian operations were acquired by Manulife in January 2015. Steve holds the Chartered Financial Analyst designation.

  • Education: B.B.A., Business Administration; M.Sc., Finance, HEC Montréal
  • Joined the company: 2015
  • Began career: 2003
Steve Bélisle, CFA

Cavan Yie, CFA

Portfolio Manager, Fundamental Equity Team, Manulife Investment Management

Cavan is a portfolio manager with the fundamental equity team and is responsible for its Canadian core equity strategies. Prior to joining the firm, he was an equity research associate at Scotia Capital, where he was responsible for covering the diversified financial services sector. Cavan holds the Chartered Financial Analyst designation.

  • Education: B.Sc., Computer Engineering, University of Toronto; M.B.A., Rotman School of Management, University of Toronto
  • Joined the company: 2012
  • Began career: 2008
Cavan Yie, CFA

Vehicles

At Manulife Investment Management, we offer investment strategies through a variety of vehicles to suit a broad range of client needs. Contact our institutional sales or consultant relations team to find out if this strategy/vehicle is offered in your region. 

Separate accounts

Our separate accounts and separately managed accounts (SMAs) are designed for institutions and high-net-worth clients seeking tailored investment solutions and direct ownership of securities. 

CITs

Our professionally managed collective investment trusts (CITs) are available in certain qualified retirement plans.

Mutual funds

Mutual funds are liquid, professionally managed portfolios which are available to both institutional and retail investors.

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Related

May 10, 2023

Bank on it: the state of Canadian financial institutions in the wake of bank failures abroad

Steve Bélisle, CFA

Steve Bélisle, CFA,  Senior Portfolio Manager, Fundamental Equity Team, Manulife Investment Management Manulife Investment Management

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The financial community was rocked by a string of bank failures in March. The failures of Silicon Valley Bank and Signature Bank in the United States could have been seen as isolated events, given their significant ties to the tech community that had seen a major downturn in recent months. But investors were rattled even further when Credit Suisse, one of the 30 global systemically important banks, was acquired by rival UBS to prevent the former’s collapse, followed weeks later by the collapse of First Republic Bank, which became the second-largest bank failure in U.S. history. The banking community was put on notice, including in Canada, where banks play a huge role in our economy.
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April 1, 2021

Canadian equities: facts and future

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The Canadian economy is changing, and the TSX needs to adapt. We examine which sectors will be helped or hindered by changing investor appetites, and what the TSX of the future may look like.
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January 22, 2021

Using the Paris Agreement on climate change as a long-term investment framework

Patrick Blais, CFA, FSA

Patrick Blais, CFA, FSA ,  Senior Portfolio Manager, Fundamental Equity Team, Manulife Investment Management Manulife Investment Management

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Investors have a vital part to play in ensuring corporations help meet the required reductions in carbon emissions set out by the Paris Agreement and in doing so, can also enhance returns.
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Important information

The material contains information regarding the investment approach described herein and is not a complete description of the investment objectives, risks, policies, guidelines or portfolio management and research that supports this investment approach. Any decision to engage Manulife Investment Management should be based upon a review of the terms of the prospectus, offering documents or investment management agreement, as applicable, and the specific investment objectives, policies and guidelines that apply under the terms of such agreement. There is no guarantee investment objectives will be met. The investment process may change over time. The characteristics set forth above are intended as a general illustration of some of the criteria the strategy team considers in selecting securities for client portfolios. Client portfolios are managed according to mutually agreed upon investment guidelines.

This information has been provided by Manulife Investment Management. All material is compiled from sources believed to be reliable and correct but accuracy cannot be guaranteed. This is not to be construed as an offer to buy or sell any financial instrument nor does it constitute an offer or invitation to invest in any fund managed by Manulife Investment Management and has not been prepared in connection with any such offer. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities and sectors listed.

References to securities, transactions or holdings should not be considered a recommendation to purchase or sell a particular security and there is no assurance that, as of the date of publication, the securities remain in the portfolio. Additionally, it is noted that the securities or transactions referenced do not represent all of the securities purchased, sold or recommended during the period referenced and there is no guarantee as to the future profitability of the securities identified and discussed herein.

The indices cited are widely accepted benchmarks for investment performance within their relevant regions, sectors or asset classes, and represent non managed investment portfolio.