TopGun^® Press

Brendan Wood International Announces 2014 TopGun Investment Minds and Canada’s Best in Class Investment Firms

December 8th, 2014 by TopGun Press

Brendan Wood International Announces 2014 TopGun Investment Minds and Canada’s Best in Class Investment Firms

RBC Global Asset Management & Mawer Investment Management Top the Polls.

For Immediate Release – TORONTO, Canada, December 8th, 2014 (TopGun Press) – This year the sell-side of the Canadian investment business voted sixty one of their buy-side clients into the Society of TopGuns. Two hundred and sixty sell-side professionals cast their ballots for the investors they personally believed to be the leaders of thought in the industry during the past year.

“As in earlier years the TopGuns garnered the upper decile of sell-side nominations and we found no bias toward large commission payers or firms. As has been the case for several years the sell-side made informed and thoughtful choices of the Investment Professionals on the buy-side who capture their respect, independent of size,” said Jordan Novak, Managing Director, Brendan Wood International.

This year Brendan Wood International added a new poll to the recognition process taking into account the views of the Society of TopGuns. The aim of this new poll was to determine who amongst their peers they considered to be the best of the best. This exclusive TopGun poll took place immediately following the sell-side vote. More than 75% of the Society of TopGuns cast their ballots in three categories, namely “best of the best” individual investment mind, investment team and investment brand.

Stuart Kedwell, veteran leader at RBC Global Asset Management, garnered the title of TopGun Investment Mind of the Year for Canada, based on substantial recognition from the sell-side of the street. Kedwell’s personable nature and forward-thinking investment style were highlighted as exceptional traits by both sides of the street. Kedwell is joined by 8 other TopGun Investment Minds at RBC Global Asset Management. In all, RBC Global Asset Management fielded 9 TopGuns in the Class of 2014, the largest number fielded by any firm. Self-evident perhaps is Kedwell’s leadership by example.

TopGun Investment Minds of the Year

Sell-Side Poll – Based on votes from Canada’s Sell-side professionals:	Buy-Side Poll – Based on votes from the Canadian Society of TopGuns, Class of 2014:
1. Stuart Kedwell – RBC Global Asset Management	1. Gary Baker – Connor Clark & Lunn Investment Management
2. Doug Raymond – RBC Global Asset Management	2. Martin Ferguson – Mawer Investment Management
3. John Novak – Connor Clark & Lunn Investment Management	3. John Novak – Connor, Clark & Lunn Investment Management
4. Jennifer McClelland – RBC Global Asset Management	4. Mark Bridges – Connor, Clark & Lunn Investment Management
5. Michael Chan – Fiera Capital	5. David Hodgson – Gluskin Sheff & Associates
6. Jeannine LiChong – Gluskin Sheff & Associates	6. Oscar Belaiche – 1832 Asset Management
7. Marcello Montanari – RBC Global Asset Management	7. Stuart Kedwell – RBC Global Asset Management
8. Gary Baker – Connor, Clark & Lunn Investment Management	8. Brandon Snow – CI Investments
9. Steven Vertes – Connor Clark & Lunn Investment Management	9. Onno Rutten – Mackenzie Investment Management
10. Doug Stadelman – Philips Hager & North Investment Management	10. Patrick Reddy – Leith Wheeler Investment Counsel

When asked about Connor Clark & Lunn Investment Management’s abundance of 2014 TopGun accolades John Novak, a Partner at the firm, attributes their success to its exceptional environment, a legacy of investment legend Larry Lunn “who fostered a culture of performance and mutual respect.” Novak says that the firm acts as a team made up of sector specialists who operate effectively as a group. “We’ve worked together for a long time, adhering to a process that works and that we continue to optimize. We try not to chase fashions. It is a very disciplined approach that we take.”

Given Connor Clark & Lunn’s experience and longstanding familiarity with the board members and executives amongst their portfolio holdings Novak says “our firm is often proactive in a constructive way; we share our ideas and the cumulative experience of our team.” The firm, which is 100% partner owned, “supports an atmosphere of independence” something Novak notes all take to heart. Apparent throughout our conversation is that Connor Clurk & Lunn is a “very special place to work”. A sense of being independent, and in some ways “fiercely independent”, appears to be an important theme in this firm’s story.

Many TopGun Investment Minds believe that peer level reviews are an essential component of the study of performance in the investment industry. In voting for the best of the best amongst competitors, TopGuns relate to the strengths of the firms which they see as models of optimal practice.

2014 TopGun Investment Teams of the Year

Sell-Side Poll – Based on votes from Canada’s Sell-side professionals:	Buy-Side Poll – Based on votes from the Canadian Society of TopGuns, Class of 2014:
1. RBC Global Asset Management	1. Mawer Investment Management
2. Connor Clark & Lunn Investment Management	2.= Connor Clark & Lunn Investment Management
3. Fiera Capital	2.= CI Investments
4. Philips Hager & North Investment Management	3.= RBC Global Asset Management
5. CI Investments	3.= Leith Wheeler Investment Counsel
6. CIBC Asset Management	4.= 1832 Asset Management
7. 1832 Asset Management	4.= Gluskin Sheff & Associates
8. Gluskin Sheff & Associates	4.= Pyramis Global Advisors
9. Caisse de Depot et Placement du Quebec	5. Picton Mahoney
10. Pyramis Global Advisors	6. QV Investors

TopGun Investment Brands Buy-Side Poll
Based on votes from the Canadian Society of TopGuns, Class of 2014

1. CI Investments	6. Sentry Investments
2. Mawer Investment Management	7. Gluskin Sheff & Associates
3. RBC Global Asset Management	8. Mackenzie Investment Management
4. Connor Clark & Lunn Investment Management	9. Picton Mahoney
5. 1832 Asset Management	10. Fiera Capital

According to the Canadian Society of TopGuns, Class of 2014, Mawer Investment Management emerged as the best in class for Investment Expertise this year. Mawer’s individual professionals did not dominate the street vote in 2014 but the firm as a whole totally stood out in the peer vote. Mawer also came in second for best in class brand, just behind marketing juggernaut CI Investments. What makes the Mawer team work so well?

We asked CIO, Jim Hall to explain his firm’s quiet success pattern. He reflected that Mawer’s investors are “heads down, focusing on consistency over time,” and that the culture “is an outcome of making Mawer a special place to work.” The firm’s low turnover – for example, one change in the research group in 17 years – is an earmark of the environment. According to Hall, “there is no magic bullet […] we do a lot of little things which collectively create teamwork as a natural outcome. Trust in each other, admitting what we don’t know, working together to get closer to the truth, valuing and celebrating good ideas, welcoming intellectual diversity, actually seeking different perspectives regardless of the way of colleagues’ thinking and realizing how important it is to listen,” are among the little things that Jim Hall says add up to teamwork as a result in Mawer’s culture.

Asked whether activist investing is part of the firm’s agenda in today’s environment, Hall says the firm is “sometimes interactive, bringing thoughts and ideas to issuers in a constructive manner and that issuers often engage in a constructive dialogue with the firm.” While not confrontational when listening to Jim Hall, one senses that the internal communication culture of the firm plays well in Mawer’s dialogue with issuers. When asked about the firm’s success as a brand and how they market Hall cites a kind of mantra which is messaged both within the firm and amongst clients: “be boring and make money.” He is quick to correct us on the assumption that capital preservation may be paramount, “no, we are here to make money for our clients, not to buy T Bills.”

Our last question was if there was anything more he would share about Mawer’s approach. Jim immediately added “staying humble.” A lot of what Hall shared may sound a bit like motherhood to pros in the game and some of it may be just that, but Jim Hall says it with special conviction. In fact, he says it like he heard it for the first time yesterday and he’s excited about it. In reality it seems like Mawer has lived these values daily for a long time. Our very first question to Jim Hall asked if he knew why his peers had ranked Mawer at the top of the list. His answer “I really have no idea”, speaks volumes. Staying humble may be an important take away from this year’s peer level review.

This year, 18 TopGun Investment Minds were designated Platinum Class based on being selected as TopGuns for four consecutive years.

The Canadian Society of TopGuns Investment Minds Class of 2014
(In alphabetical order by last name):

Sonny Aggarwal; Picton Mahoney
Gary Baker; Connor, Clark & Lunn Investment Management (Platinum Class)
James Baldwin; Greystone Managed Investments
Ryan Ball; MFS Investment Management
Christopher Beer; RBC Global Asset Management (Platinum Class)
Oscar Belaiche; 1832 Asset Management (Platinum Class)
Gabriel Bouchard-Phillips; Van Berkom and Associates
Mark Bridges; Connor, Clark & Lunn Investment Management (Platinum Class)
Stephane Champagne; CI Investments (Platinum Class)
Dennis Chan; Phillips, Hager & North Investment Management
Michael Chan; Fiera Capital
Ashish Chaturvedi; Fiera Capital
Jean-Philippe Choquette; Fiera Capital
Samba Chunduri; Connor, Clark & Lunn Investment Management
Greg Dean; CI Investments
Tom Dicker; 1832 Asset Management
Ryan Elliott; Connor, Clark & Lunn Investment Management
Steve Falardeau; Caisse de Depot et Placement du Quebec
Martin Ferguson; Mawer Investment Management
Benoit Gervais; Mackenzie Investment Management (Platinum Class)
Thomas Goldthorpe; Pyramis Global Advisors
Elan Gore; Picton Mahoney
Manash Goswami; First Asset Management Inc.
Tyler Hewlett; BMO Global Asset Management
David Hodgson; Gluskin Sheff & Associates
Andreas Hoppe; CIBC Asset Management
Stephen Hui; Pembroke Management
Benjamin Jasmin; Intact Investment Management Inc.
Jean-Francois Jolicoeur; Caisse de Depot et placement du Quebec (Platinum Class)
Stuart Kedwell; RBC Global Asset Management (Platinum Class)
Alex Lane; 1832 Asset Management
Patrice Langlois; Caisse de Depot et placement du Quebec
Jennifer Law; CIBC Asset Management
Jeannine LiChong; Gluskin Sheff & Associates (Platinum Class)
Scott Lysakowski; Phillips, Hager & North Investment Management (Platinum Class)
Jennifer McClelland; RBC Global Asset Management (Platinum Class)
Sean McCurley; RBC Global Asset Management
Jeff Mo; Mawer Investment Management
Marcello Montanari; RBC Global Asset Management (Platinum Class)
Jayson Moss; Bissett Investment Management
Sarah Neilson; RBC Global Asset Management
John Novak; Connor, Clark & Lunn Investment Management (Platinum Class)
Joe Overdevest; Pyramis Global Advisors
Vincent Paquet; Intact Investment Management Inc.
Bryan Pilsworth; Foyston, Gordon & Payne
Doug Raymond; RBC Global Asset Management (Platinum Class)
Patrick Reddy; Leith Wheeler Investment Counsel
Michele Robitaille; Guardian Capital
Onno Rutten; Mackenzie Financial
Mike Simpson; Sentry Investments
Brandon Snow; CI Investments
Brahm Spilfogel; RBC Global Asset Management (Platinum Class)
Doug Stadelman; Phillips, Hager & North Investment Management
Nick Szucs; Leith Wheeler Investment Counsel
David Taylor; Taylor Asset Management
Greg Taylor; Aurion Capital Management
Terry Thib; Hesperian Capital
Scott Vali; CIBC Asset Management (Platinum Class)
Kevin Vandermeer; RBC Global Asset Management
Steven Vertes; Connor, Clark & Lunn Investment Management (Platinum Class)
Malcolm White; CI Investments (Platinum Class)

About Brendan Wood International:

In 1970, Brendan Wood International pioneered performance measurement in the capital markets. Intelligence is the oxygen of performance and leadership. To underpin our clients’ performance initiatives Brendan Wood Partners execute several thousand intelligence gathering debriefs with C level executives and major investors throughout the world each year. This unique investigative process pinpoints TopGun performance for investment banks, corporations and portfolio managers. The BWI “real time” intelligence machine assesses performance in the lion’s share of transaction volume in the global markets.

Brendan Wood’s global intelligence network identifies the best of the best in the capital markets. This knowledge enables our partners to introduce TopGun directors, CEOs and CFOs to corporate clients and TopGun revenue generators to investment banking, sales, research and trading teams. BWI is also uniquely equipped to assist corporations select their optimum banking groups.