Invesco Canada blog

Insights, commentary and investing expertise

Looking beyond the active-passive debate

Recently, one of Invesco’s funds – Trimark International Companies Fund – was singled out for praise as an example that true active management can outperform. While the kudos were well-deserved for the team, it appeared as part of a commentary that was otherwise unsympathetic to active management.

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Diversification in a post-Brexit world

The basic principle that guides our portfolio construction is combining asset classes that we believe will perform well in at least one of the main economic environments. The goal of this approach is to have elements of the portfolio that are performing well in various scenarios – helping buoy results in more difficult times.

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Gold miner worth the wait

Earlier this month, I attended the opening ceremony of a gold mine in Mexico, along with the governor of Guerrero state, several federal cabinet ministers and the chairman and the CEO of Torex Gold Resources Inc., the company launching the mine. I’ve been investing in commodities for many years, and my focus has always been on high-quality assets run by high-quality people. For me, Torex fits the bill.

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Four reasons why oil prices should normalize


April 25, 2016
Subject | Active management | Commodities | Trimark

When oil is trading at US$20–US$30, many energy companies are not profitable. When oil prices are that low, companies are operating simply to cover their cash costs – it can be very costly to restart a stopped oil well and companies stand to lose less money by continuing to produce, rather than ceasing production altogether.

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The “flywheel” of quality innovation


February 19, 2016
Subject | Active management | Commodities | Trimark

My key investing goal is, and always has been, sustainable growth. In a rapidly changing world, I believe the best road to enduring growth is to embrace change – participate in it and, in some cases, lead the charge. How does a high-quality company do this? I believe it all comes down to building and maintaining a strong culture of innovation.

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Looking for companies that can survive – and thrive – with low oil prices


February 16, 2016
Subject | Active management | Commodities | Invesco

Historically, the Invesco International and Global Growth team has taken an underweight position in the energy sector because we believe that over the course of an economic cycle, few oil-and-gas producers can consistently earn above their cost of capital. Additionally, we see many management teams prioritize volume growth over returns – a strategy that eventually pushes prices down to or below the median break-even cost curve. But after the recent carnage in the oil markets, we’re beginning to dust off some of our energy-company files in search of opportunities.

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