Manager Monitor: Erin Greenfield, Trimark Investments

first_img Change to Counsel Global Small Cap Fund Erin Greenfield, who took over the lead role in managing Trimark Global Balanced in mid-2013, has stayed the course with the $611-million fund by keeping the asset mix stable and portfolio turnover low.Greenfield is a vice-president and portfolio manager for Trimark Investments, a division of Invesco Canada Ltd. in Toronto. After co-managing Trimark Global Balanced since 2009, he was appointed lead manager in June 2013, and continues to work with co-manager Jeff Hyrich. Since 2008, Greenfield has also co-managed Trimark Global Endeavour with Hyrich. NEO, Invesco launch four index PTFs Keywords Fund managersCompanies Invesco Canada Ltd. Though Greenfield and Hyrich have the flexibility to vary the asset mix, the balanced fund has remained at approximately 70% equities and 30% bonds over the past five years. On the equity side of this fund, which ranges between 25 and 35 holdings, the duo has added a few more names since mid-2013. Otherwise, there have been no significant changes over the past 14 months.This is despite being given a free hand. “With a lot of the Trimark funds, there’s not many handcuffs,” says Greenfield, who joined the Trimark team in 2005 and started out in Canadian equities. “And any time you remove handcuffs from portfolio managers, you increase the chances of outperforming.”Greenfield is responsible for the overall asset allocation of Trimark Global Balanced, but the bond components are chosen by a three-member fixed-income team. “We’ve told the bond managers to be opportunists,” says Greenfield. “Use that Trimark approach of trying to find great bargains.”There is considerable overlap in stock positions between Trimark Global Balanced and Trimark Global Endeavour, but the latter does not hold any fixed-income securities.Another difference has to do with the market capitalizations of equity holdings. Trimark Global Endeavour is primarily a mid-cap fund. Trimark Global Balanced is approximately one-third large cap, one-third mid-cap and one-third small-cap.Many of the “best ideas” of the two managers have come from smaller companies. “Often smaller companies can grow faster than larger companies,” says Greenfield, “but they can certainly be more volatile.”Following a fundamentally driven, bottom-up process, the Trimark team emphasizes quality management with a strong track record. Other sought-after qualities include profitability, competitive advantage, barriers to entry, growth opportunities, balance-sheet strength and valuations.Microsoft Corp. (Nasdaq:MSFT), the current top holding in Trimark Global Balanced, “ticks many of the boxes,” says Greenfield. The information-technology giant has at times been unloved in the market, he says, “so it shows that we can be somewhat contrarian. It’s not a fast grower, but it does have some opportunities for growth in mobile and cloud platforms.”A top-five holding in the balanced fund and in Trimark Global Endeavour is Hyundai Mobis Co. Ltd., a South Korean auto-parts provider. The company has had very strong growth over the last 10 years, supplying parts to Hyundai Motor Co. and Kia Motor Corp., which make vehicles that are “really gaining in popularity,” says Greenfield. Hyundai Mobis sells globally and also handles most of the aftermarket parts. “So it’s somewhat of a royalty business for people getting their cars fixed, regardless of what’s going on in the economy.Greenfield and his Trimark colleagues don’t pay much attention to market indexes or sectors, but they aim to have a fairly diversified portfolio of separate ideas. For example, even if they consider U.S. banks to be cheap, the fund would generally include only one U.S. bank. “That way you have a portfolio of uncorrelated ideas,” says Greenfield.Currently, Trimark Global Balanced has invested close to 40% of its portfolio in the U.S., spanning both equities and fixed-income securities. The fund’s equity portion does not hold any Canadian companies. Most of the U.S. equity holdings are in companies that are global in scope.There are certain areas of the world that “we would shy away from,” says Greenfield. For example, “Russia is a place that I’ve always had a tough time with, and China I find is tough to understand at times.”When investing in China, Greenfield says he favours companies that are managed out of Hong Kong. The reason, he says, is that these companies have “a much longer history there of investor protection, better governance and more regulatory filings in English that you can review.”Greenfield, 41, received a BBA (honours) from Wilfrid Laurier University in 1996. After graduation, he joined NCR, owned by AT&T, as a cost accountant in Waterloo for about a year. He then returned to Wilfrid Laurier to take courses toward the CA designation.In September 1997, Greenfield joined KPMG in Toronto, auditing financial statements, before being transferred to the company’s Bermuda office in 1999 as a senior manager. He received the CA designation in 2001 and the CFA designation in 2002. He believes his experience in auditing a broad range of companies “is a great background to have as a portfolio manager.” Diana Cawfield center_img Share this article and your comments with peers on social media Franklin Templeton renames funds with new managers Related news Facebook LinkedIn Twitterlast_img read more

Is Punjab government’s farm amendment bills beneficial to farmers or just a smokescreen?

first_imgAfter a month-long protest against the centre’s three farm bills by Congress, SAD, and AAP, the Punjab government passed three farm bills to reject (really?) the centre’s bill. The point is whether a central bill could be rejected by a state assembly? Technically no because the state bills must be accepted by the Governor of the state (who is representative of the central government) and to be assented by the president of India who follows the advice of the central cabinet led by the Prime Minister. It’s not that the Congress government of Punjab doesn’t know it, but politics is the mainstay of passing those three bills just to fool people. How? Let’s see what important amendment the Punjab Government had done and if those amendments contradict central farm acts.State bill focuses on the role of APMC Mandis. The central farm bill doesn’t negate the APMC as it’s a state subject. Centre’s farm bill is in fact beyond the APMC. Thus, it’s not understood how the central act is annulled here. State government bill made the mandatory purchase of paddy and wheat on MSP. The central government too said that MSP will continue to stay. Here Punjab government made another decision that if someone (mostly for contract farming) purchases products less than MSP price then there will be a punishment. Now, this looks very helpful for farmers but technically it is not.MSP is declared by the government for certain produces and for a certain quantity. What will happen when the centre collected the required quantity as per MSP? No one can purchase at a cost less than MSP. Thus, farmers have to go to APMC mandis to sell theirs produces. AT APMC, MSP is not a criterion. It will be auctioned and then whatever the cost, the middlemen, or say trading agents only will purchase. That means the farmers have to sell at a lesser price in the APMC mandis as beyond these mandis no one can purchase if the cost comes less than MSP. Whom it benefitted? Isn’t it benefited the mill’s owners and purchasing agents? Further what about the agri-produces that have no MSP provision?The central government lifted any type of fees or levy beyond APMC Mandis if there’s a sale by the farmer to other states or other people other than APMC Mandis. But Punjab government imposed a fee/levy for every transaction beyond the APMC Mandis. The bottom line is that farmer of Punjab has no choice other than APMC Mandis! Who’s benefitted? Farmers or traders?Central farm acts lifted the stock limit for making private players purchasing large quantities of agricultural produce from the farmer. Punjab farm bill imposes restrictions on that quantity. That means if some private players have already purchased a quantity beyond which state government will take action against them for hoarding, so they won’t able to purchase more produces. That means either farmer will be forced to stock his bumper production at his own risk or has to sell those to the Mandi traders at a throwaway price.Central farm act says that if there’s a farmer’s grievance (for example a farmer is exploited or cheated), then the District Magistrate or such other competent authority will hear the matter and solve it in a timeline of 30 days. As per the Punjab farm bill, the farmer has to go to the courts and there’s no time limit. Common-sense says what would be the time taken to deliver justice by the courts. So, in whose favour the Punjab government’s bill is?The point is simple. The central farm acts give an option for the farmers to look for alternatives to the existing facilities including APMC mandis where his problems are not sorted out. But then the parties did the politics and created a smokescreen.What will happen if the Punjab governor accepted the bill and the President of India assented? Simple? Punjab Farmers will be exploited by mandi agents and traders whereas farmers of the rest of the country will use better options as available and also can-do interstate trades (barring Punjab) and also contract farming on produces that are money fetching.It’s not that farmers don’t understand this. The farmer community of India has no objection to central laws. It’s just political parties and traders (who are to suffer losses as farmer gains profit) are irritated and trying to create confusion. But then majority public including farmers nowadays are very smart, mature and intelligent enough to see through any design just to manipulate people and create a controversy that really doesn’t exist.last_img read more

Watch Trey Anastasio Hilariously Recount Meeting Graham Nash To Celebrate Nash’s 79th Birthday

first_imgGraham Nash, the two-time Rock and Roll Hall of Fame inductee, turns 79 today. The former member of Crosby, Stills, Nash, and Young and The Hollies has had an impact throughout modern music as we know it, including on Phish‘s Trey Anastasio. On October 16th, 2015, during a performance with the Trey Anastasio Band at the King’s Theater in Brooklyn, Trey took a little time to tell the crowd about the time he met Crosby, Stills, Nash, and Young back in the early 2000s. His recounting of meeting Nash is highly entertaining and was used as a segue into a cover of Crosby, Stills, Nash, and Young’s “49 Bye Byes”, which he said was the first time they’d played the tune live.You can watch Trey’s anecdote and TAB’s cover of “49 Bye Byes” below:Trey Anastasio – Graham Nash Story > “49 Bye Byes” (Crosby, Stills, Nash, and Young) – New York, NY – 10/16/15[Video: LazyLightning55a][Originally published on 2/2/18]last_img read more

Shoplifter pepper sprays security guard

first_imgA shoplifter pepper-sprayed a security guard at a store at The Palms at Town and Country, authorities said.The incident was reported at Forever 21’s even cheaper F21 RED store. According to an incident report, a woman saw the thief putting clothes into a shopping bag without paying for the items and notified the store’s security guard.Miami-Dade police recently released surveillance video that shows the shoplifter pepper-spraying the security guard before taking off with a bag full of stolen merchandise.It’s unclear how much the merchandise was worth. According to an incident report, the store was evacuated because of the chemicals in the air.last_img read more

Silvandersson is a runaway winner

first_imgThe weather was cool and dry and the course was in great shape.  But as usual this course took its toll as only three players in the men’s division managed to break par.In the A Flight Alan Pilkington just pipped his close friend Alan Griffiths by one point to take the honours with 37 points.  Jan Silvandersson was the runaway victor in the B Flight with the highest score of the day (40pts) to win convincingly while George Young also had a comfortable win in the C Flight, finishing 4 points clear of second and third.PAGS monthly tournament B Flight winner and day’s top scorer Jan Silvandersson, center.The ladies flight was a very close contest between Srithong (40pts) and the in-form Mam Moral (39pts).At this stage of the aggregate tournament, Alan Griffiths is the overall leader of the men’s division and the ladies’ leader is Miss Moon.After the prize presentations and a great BBQ, the celebrations went on well into the night.A Flight1st Alan Pilkington (9) 37pts2nd Alan Griffiths (11) 36pts3rd Dennis Marks (13) 35ptsB Flight1st Jan Silvandersson (15) 40pts2nd Bob Rassmusson (15) 37pts3rd Steve PlantC Flight1st George Young (22) 34pts2nd Paul Lindgren (25) 30pts3rd Don Carmody (22) 30ptsLadies1st Srithong (12) 40pts2nd Mam Moral (17) 39ptsLong Putts:  Jonny Larson, Harvey SamuelsLong Drives:  Grant Cadell, Siripen (2), Jason McDonaldNear Pins (3 shots):  Jack Grinvold, Alan Pilkington, Bob Rassmusson, Alan GriffithsNear Pins (2 shots):  Bob More, Patrick Malvany, Johannas, Terry Hutchinson, Des Scott, Brian NealNear Pins (Tee shot):  Miss Moon, Ning Neal, Pier Cere, Jack BowmanFriday, April 1, Greenwood – StablefordWe knew it was April fool’s day but we did not expect anyone to be so foolish as the management at Treasure Hill.  Yet again they ‘excelled’ themselves by not only double booking two outlets for the same time of 10.30 a.m., but also increasing their green fees for the low season by 150 baht rather than reducing them like everyone else.A Flight winner Alan Pilkington.After a frustrating 20 minutes of negotiations and getting absolutely nowhere we decided to make the short journey to Greenwood where the scenario was completely different as the staff there fell over backwards to accommodate us.  The course was in great shape and everybody enjoyed it once we settled down.Only one division today, with Pier Cere being the only player to break par and thus be the winner, while Bob Crawford beat Brian Maddox on a 17-13 count-back for second place.Ladies flight winner Srithong, center, collects her prize.1st Pier Cere (12) 38pts2nd Bob Crawford (27) 32pts3rd Brian Maddox (21) 32ptsNear Pins:  Ning Neal, Joop Medze, Pier Cere, Tony DuthieNote:  The group is based at the Fairways Driving Range situated at the top of Pattaya Klang on Sukhumvit Road and we play every Sun – Mon – Wed – & Fri.  Anyone wishing to play with our society can call into the club house and put their names down on the lists provided or call Scott on 084 389 2327.  Transport provided if required. PSC golf from The Fairways Golf SocietyTuesday, March 29, Mt. Shadow – PAGS Monthly TournamentAnother great day out was well organised by the guys at the Fairways Golf Society.  The cut today for the three divisions was 0-13, 14-18, & 19-28 with over one hundred golfers vying to win one of the many prizes on offer. last_img read more

Al Ain will face River Plate in Club World Cup semi-final

first_img15/12/2018 IN SPORT.ES Ref: Jair Marrufo (USA). Booked Mohamed Youcef Belaili of Esperance. Al Ain: Khalid Eisa, Mohammed Fayez, Ismail Ahmed, Mohamed Ahmad, Tsukasa Shiotani, Tongo Doumbia (Yahia Nader, m.84), Aboudan Al Jaberi (Amer Abdulrahman, m.67), Ahmed Barman, Hussein El Shahat, Caio, Bandar Mohammed (Marcus Berg, m.80). Upd. at 20:10 CET Arabian Gulf League title holders Al Ain thrashed African champions Esperance to reach the Club World Cup semi-finals against River Plate. Goals: 0-1, m.2: Mohamed Ahmad. 0-2; m.15: Hussein El Shahat; 0-3, m.59: Bandar Mohammed. They face River in the semi after they beat arch-rivals Boca Juniors in Madrid to win the Copa Libertadores and qualify for the Club World Cup. El Al Ain, rival de River en semifinales del Mundial de Clubes Sport EN Esperance: Moez Ben Cherifia, Sameh Derbali, Chamseddine Dhaouadi, Khelil Chemmam (Ali Machani, m.70), Ayman Ben Mohamed, Fousseny Coulibaly, Franck Kom (Adem Rjaeibi, m.63), Ghilane Chaalali (Mohamed Meskini, m.46), Anice Badri, Taha Yassine Khenissi, Mohamed Youcef Belaili. Mohammed Ahmed, Hussein El Shalat and Bandar Al Ahbabi struck to help the hosts triumph at the Hazza Bin Zayed Stadium to dispatch their Tunisian opponents.last_img read more

Diego Costa could be out until April

first_img Upd. on 15/11/2019 at 11:02 CET The forward has played 15 games this season, although only has two goals and two assists. Even if he is back in April it would put at great risk his chances of playing for Spain in the 2020 European Championships. The player could have conservative treatment if the injury is small, but if it affects the nerve he will need to be operated on. IN SPORT.ES 14/11/2019 RELATED STORIEScenter_img Javier Villodres Diego Costa: Griezmann’s dream was to play with Lionel Messi Diego Costa podría ser baja hasta el mes de abril Atletico Madrid striker Diego Costa has taken some tests after suffering a hernia injury in recent days. The forward may be out until April even if he does not take surgery on the injury.last_img read more

Kootenay Ice take optimistic approach into net BCMMHL season

first_imgBy Bruce FuhrThe Nelson Daily SportsNow the fun begins.The Kootenay Ice kick off the 2011-12 B.C. Major Midget Hockey League season with plenty of optimism as the interior based squad heads to Vancouver Island for a two-game set Saturday and Sunday in Nanaimo against the North Island Silvertips.And new head coach Mario DiBella isn’t shy about what his goal is for this new group of 15-17-year-old midget hockey players.“We are looking to make the playoffs for the first time in Ice history,” stated the veteran bench boss.That goal will not be easy to achieve after the Ice, under the coach last season of Simon Wheeldon, lost the likes of 18-goal scorer Jesse Knowler of Castlegar and Nelson’s Dryden Hunt to the Western Hockey League and sniper Luke Bertolucci to the Trail Smoke Eaters of the BCHL.However, DiBella believes he has the players ready to fill the skates of the rookie Tier I hockey players.“We have Jake Lucchini (Trail), Darren Medeiros (Castlegar) and Quinn Klimchuk (Castlegar) who are equally as talented as the (Hunt, Knowler and Bertolucci),” DiBella said of his three second-year players.“We’ve also added Mitch Foyle (Fruitvale), Jeremy McGregor (Christina Lake) and Brandon Savaia (Grand Forks) as talented first years that can put the busier in the basket.”The Ice has three grads from the Nelson Minor Hockey Association in Colton Dachwitz, Greyson Reitmeier and late edition Brandon Sookro.Cole Arcuri, thought to be a lock to make the Ice at defence, decided to return to the Okanagan Hockey Association.After the Island trip, the Ice are idle until opening the home part of the season October 8-9 at the NDCC Arena against Okanagan Rockets.The home dates will shift around rinks in the West Kootenay, with stops in Castlegar, Trail and Grand Forks.DiBella likes the idea of showcasing the players throughout the region.“I feel it’s good for the program and it provides home games where the players live,”  said DiBella, who has former Nelson Leaf assistant coach Sean Dooley with him behind the Ice bench.The B.CMMHL was established in 2004 to provide elite level 15, 16 and 17 year olds the opportunity to play at a high level within their age group.Each year all Major Midget League teams have the opportunity to compete for the National Midget Championship.Kootenay finished the 2010-11 season in 10th spot with a 8-25-7 record with the Vancouver Northwest Giants winning the BCMMHL [email protected]last_img read more

€500,000 BoyleSports Irish Grand National Attracts 124 Entries

first_imgprint WhatsApp Facebook Twitter Email Now the most valuable National Hunt race in Ireland, the entries for the BoyleSports Irish Grand National are dominated by Gordon Elliott. In all, the season’s leading trainer has put 28 horses, by far the most of any trainer, in the race and he is responsible for the early top-weight Outlander. A top contender for the Cheltenham Gold Cup, Outlander has been handed 11st 10lbs while his stable companions Empire Of Dirt and Don Poli are next on the list with 11st 8bs and 11st 7lbs respectively. All three horses are owned by Gigginstown House Stud who have won the race for the past two years. Elliott has also entered last year’s runner-up, Bless The Wings who has been given 9st 11lbs while Noble Endeavor, a 10/1 co-favourite is further up the handicap on 11st.The BoyleSports Irish Grand National will go a long way towards deciding who is crowned this season’s champion National Hunt trainer. Elliott has yet to win the race and the same can be said of the current champion trainer, Willie Mullins who has made 14 entries, headed by Alelchi Inois on 11st 5lbs. His leading novice chaser Bellshill has been given 10st 9lbs while early 10/1 co-favourite The Crafty Butcher is on 9st 9lbs. Mullins has also entered his recent Fairyhouse winner Pleasant Company on 10st 8lbs. Pleasant Company beat 2015 BoyleSports Irish Grand National winner Thunder And Roses to win the Grade 3 At The Races Bobbyjo Chase at the course at the end of last month. Eight of the first 10 horses home in last year’s BoyleSports Irish Grand National have been entered again with the Mouse Morris-trained winner, Rogue Angel set to carry 10st 1lb this time. Morris has made five entries including Alpha Des Obeaux on 10st 7lbs and Thunder And Roses, the winner of the race two years ago, on 10st 6lbs. Folsom Blue finished fourth for Morris in 2016 and has been allotted 9st 6lbs at this early stage after his success at Navan on Saturday. The Grade 1 winning novice chaser Our Duke, trained by Jessica Harrington is a notable entry and is set to carry 10st 13lbs while another top novice chaser, Joseph O’Brien’s Edwulf is on 10st 12lbs. Mall Dini, one of three 10/1 co-favourites, has been entered by Pat Kelly and has been allotted 10st 1lb. Minella Foru is another leading fancy and is on 10st 6lbs for Edward Harty.The cross-channel challenge numbers 24 horses compared to 11 last year. Successful with Butlers Cabin in 2007 and Shutthefrontdoor in 2014, Jonjo O’Neill is one of 14 British-based trainers with entries in the BoyleSports Irish Grand National. O’Neill has entered five horses and among them are Shutthefrontdoor on 10st 4lbs, Minella Rocco on 11st 4lbs and More Of That with 11st 3lbs.David Pipe, whose father Martin won the race with Omerta, ridden by the then amateur rider Adrian Maguire, in 1991 has made four entries. The quartet is headed by Un Temps Pour Tout on 11st 1lb. No stranger to recent success at Fairyhouse, Kerry Lee has entered both Bishops Road (10st 5lbs) and Goodtoknow (10st 1lb). Kim Bailey has also put two in the race with Harry Topper given 10st and Knockanrawley on 9st 8lbs while also doubly represented at the initial entry stage is Paul Nichols who could be represented by Saphir Du Rheu (11st 2lbs) and Le Mercurey (10st 10lbs). With 9st 10lbs, Vyta Du Roc could carry the hopes of Nicky Henderson.Leon Blanche, Head of Communications at BoyleSports, said, “We are delighted to be sponsoring Ireland’s richest steeplechase, the BoyleSports Irish Grand National, with an increased prize pot of a record €500,000 we are looking forward to the prestigious race steeped in history at Fairyhouse on Easter Monday. With the significant increase in prize-money, we are delighted to see so many overseas entrants for the race in what is looking set to be the best ever BoyleSports Irish Grand National. We are very proud to have our name associated with the richest jumps race in the country. BoyleSports continues to invest in the Irish sporting industry, with Ireland’s largest independent bookmaker also sponsoring the BoyleSports Champion Chase and the BoyleSports Irish Greyhound Derby.”Peter Roe, General Manager of Fairyhouse Racecourse, said, “This is shaping up to be a race of the highest quality. The BoyleSports Irish Grand National is worth a record €500,000 this year and has attracted a truly top-class entry of 124 horses which is a modern day record. It is great to see such interest from overseas and with 24 British-trained entries, we are set for a highly competitive renewal of this very historic race which will, as always, be staged on Easter Monday, 17th April at 5pm. Bookings for the event are ahead of last year as people anticipate a great race. With the increased prize fund thanks to the generosity of our sponsors BoyleSports, we have been rewarded with a tremendous entry.”BoyleSports betting for the BoyleSports Irish Grand National at Fairyhouse, Easter Monday, April 17th, 2017 is as follows:10           The Crafty Butcher10           Noble Endeavor10           Mall Dini14           Minella Foru14           Outlander14           Saphir Du Rheu14           Pleasant Company14           Alpha Des Obeaux14           Our Duke16           Squouateur16           Killer Miller16           Bonny Kate16           Arbre De Vie16           Measureofmydreams16           Ucello Conti16           Coney Island16           Don Poli16           Empire Of Dirt20           Bar Ireland’s richest jumps race sees Mall Dini, The Crafty Butcher & Noble Endeavor head the betting at 10/1 A total of 124 horses, an increase of 34 on last year, have been entered for the €500,000 BoyleSports Irish Grand National at Fairyhouse on Easter Monday, April 17th.last_img read more

Gold For Celtic Eagles BC As Gytis Lisinskas Wins Senior Title

first_imgWhile it was not to be for the Kyne brothers Daniel and Jason, there was success in the final fight of the night when Gytis Lisinskas beat Dean Scullion of Loughshore 3-2. Gytis joined John Mulligan during Sunday Sport which came from the Black Box in Galway City.Audio Player Up/Down Arrow keys to increase or decrease volume. Friday evening was a special one for Celtic Eagles Boxing Club with no less than three in National Senior Boxing Finals.center_img National Senior Super Heavyweight Champion Gytis Lisinskas of Celtic Eagles.print WhatsApp Facebook Twitter Emaillast_img read more