Head of Equities
The Fund aims to achieve capital growth, over any five-year period, after all costs and charges have been taken. The Fund’s comparator benchmark is the MSCI North America Index.
LF Canlife North American Fund
For further details on the objective and investment policy, visit the Literature section to view fund KIIDs and Prospectus.
How the Fund is managed
Top down macroeconomic style
The Fund is heavily influenced by the economic backdrop and its impact on stocks, sectors and markets. We all live in the real economy and it impacts everything we do. Similarly, our economic view is used to determine risk stance, sector positioning and the type of stocks held. Generally companies with low debt, strong cash flow and a high return on equity are favoured although this varies with the economic cycle.
Strong contrarian bias
The Fund constantly seeks misunderstood investments that have underperformed the market or sector. This often provides us with good entry points to invest in companies we already like which are purchased after the thesis has been re-validated.
The fund will invest across all sectors, stocks and styles dependent on investment opportunity, macroeconomic backdrop and valuation. It will not be unduly biased to any one thematic or style but instead respond to investment opportunity as they present. The co-managers typically have skillsets in a different sectors and styles which, in combination, provide the best, balanced outcomes.
Mike Willans has more than 25 years’ investment experience. He joined Canada Life Asset Management in October 1999 and was appointed Head of International Equities in March 2010 and then Head of Equities in May 2018. Mike heads up an experienced team that can also draw on the insights of other equity and fixed income specialists at Canada Life Asset Management. Bimal Patel joined Canada Life Asset Management’s equities team in September 2013.
The value of investments may fall as well as rise and investors may not get back the amount invested.
Due to the underlying assets held, the price of the fund is classed as having above average to high volatility.
Consumers have a record cash hoard burning a hole in their pockets. Investors may be drastically underestimating the strength and speed of the impending economic recovery
Glitzy tech stocks have hogged the limelight during 2020’s astonishing market rebound. Now it could be time for dowdier areas of the equity market to shine as vaccines make a return to normal in 2021 increasingly likely.
As COVID-19 raised the spectre of economic collapse, mass unemployment and market turmoil, central banks and governments embarked on eye-popping programmes of monetary and fiscal stimulus.