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Read the story behind the investment Trimark Investments Blog



Trimark's numbers speak for themselves

The Trimark Investments team uses a disciplined investment approach that looks beyond short-term market trends to drive performance. By focusing on company fundamentals, the team makes investment decisions that seek to preserve capital and grow it over the long term, while putting up performance numbers that are among the best in the Canadian investment industry.

First-quartile ranked funds
Trimark Canadian Endeavour Fund
Canadian Focused Equity
Trimark Canadian Opportunity Class
Canadian Equity
Trimark Canadian Plus Dividend Class
Canadian Dividend & Income Equity
Trimark Canadian Small Companies Fund
Canadian Focused Small/Mid Cap Equity
Trimark Diversified Income Class
Canadian Equity Balanced
Trimark Diversified Yield Class
Canadian Equity Balanced
Trimark Europlus Fund
European Equity
Trimark Fund
Global equity
Trimark Global Balanced Class/Fund
Global Equity Balanced
Trimark Global Dividend Class
Global equity
Trimark Global Endeavour Class/Fund
Global Equity
Trimark Global Fundamental Equity Class/Fund
Global equity
2013 Lipper AwardTrimark Global Small Companies Class
Global Small/ Mid Cap Equity
Trimark Income Growth Fund
Canadian Equity Balanced
Trimark International Companies Class
International Equity
Trimark International Companies Fund
International Equity

*Three-year quartile rankings and Morningstar Star Ratings (as at January 31, 2014)
2013 Lipper Award2013 Lipper Award Winner
2012 Morningstar Canadian Investment AwardMorningstar Canadian Investment Award 2013 Winner
Second-quartile ranked funds
Trimark Canadian Class
Canadian Focused Equity
Trimark Canadian Fund
Canadian Focused Equity
Trimark Energy Class
Natural Resources Equity
Trimark Resources Fund
Natural Resources Equity
Trimark Select Balanced Fund
Canadian Equity Balanced
Trimark U.S. Companies Fund
Global Equity
2013 Morningstar Canadian Investment AwardTrimark U.S. Small Companies Class
U.S. Small/Mid Cap Equity

*Three-year quartile rankings and Morningstar Star Ratings (as at January 31, 2014)
Trimark Feature Funds

By seeing what the market overlooks, Trimark portfolio managers are able to take ownership positions in companies they truly believe in.

Here you'll find a series of Trimark funds that demonstrate key aspects of the team's business-owner mindset and long-term investment discipline. View fund data, watch video interviews and read blog posts and Q&As to get the full story.

Trimark small companies funds
Portfolio managers Jason Whiting, Rob Mikalachki and Virginia Au
Trimark Investments

We manage your savings as though it were our own money. In doing so, we are singularly focused on putting your interests first in all our investment decisions. Our purpose is clear: Build and protect your wealth patiently and responsibly, and over time, to achieve long-term investment performance that is among the best of our competitor peer groups.

Our investment principles
Value

We only invest in businesses we like, at prices significantly lower than we believe they are worth. This increases our chances of achieving stronger returns for our investors, and also reduces the risk of losing money.

Quality

We prefer to own high-quality businesses with outstanding long-term potential. We believe high-quality businesses are those with solid financial strength, sustainable advantages over competitors, and talented management teams with good track records of running companies.

Long-term focus

We invest strictly with a long-term view of at least three to five years in assessing the potential for a company to grow. This helps us avoid the short-term fads that come and go. It also enables us to take advantage of buying opportunities where quality companies' stock prices drop due to general market sentiment or short-term company events that have no bearing on our belief of how we think these businesses will grow over time.

Independent thinking

We conduct thorough research and analysis on industries and businesses to develop our own investment ideas. To outperform over the long term, we believe that it is necessary to think differently from the crowd to identify unrecognized opportunities.

Conviction

The depth of our research, our long-term focus and our insistence on buying companies we understand for less than we think they are worth, gives us the confidence to take substantial ownership positions in companies we truly believe in. We believe that a focused portfolio of a relatively small number of companies that represent different investment ideas will produce better long-term results for our investors.

Our distinctive investment culture
Business owner mentality

We are passionate about investing for long-term results. We use our knowledge and experience, as well as creativity, imagination and entrepreneurial spirit, to develop unique investment ideas that we believe will produce attractive returns over time. When contemplating an investment, we view ourselves as long-term owners of a business, not short-term renters of the stock. This focuses our attention towards a company's enduring strengths, strategic vision and potential risks. We are often out of sync with market fads in the short term, but this long-term horizon has historically been one of the keys to our success.

Integrity

We are disciplined in our thought and action. We stay the course through different market conditions. Our courage never to deviate in the way we invest comes from the exhaustive first-hand research we conduct, and our history of being rewarded for sticking to our guns through turbulent moments. We do not manage by committees and consensus. Individual members of our team are held accountable for the investment decisions they make on behalf of our clients.

Curiosity

We keep an open mind and are constantly expanding our knowledge through experience. This includes reading and traveling abroad to learn about new businesses, technology and management, paying site visits to companies we own to immerse ourselves in their operations, and talking to different people from various industries. We foster an open and collegial environment where information and ideas are shared, discussed and debated.

Challenge

We maintain a skeptical mindset to ensure our investment decisions remain sound. Every member of our team is expected to challenge conventional wisdom, his/her own investment ideas and assumptions, as well as those from other team members.

Mentorship

Acting as guardians of our culture, seasoned members of the team mentor less-experienced members to ensure consistency and continuity of our investment discipline, as well as succession planning.



Trimark portfolio managers Trimark portfolio managers
Canadian Focused Equity team
  • Ian Hardacre
  • Norman MacDonald
  • Alan Mannik
  • Rory Ronan
  • Mark Uptigrove
  • Clayton Zacharias
  • Brian Tidd
  • Eric Mencke
Small-Cap equity team
  • Rob Mikalachki
  • Virginia Au
  • Jason Whiting
Fixed-income team
  • Jennifer Hartviksen
  • Anthony Imbesi
  • Albert Ngo
Global equity team
  • Michael Hatcher
  • Jeff Feng
  • Erin Greenfield
  • Jeff Hyrich
  • Jim Young
  • Ashley Misquitta
Morningstar Quartile rankings are determined by Morningstar Research Inc., an independent research firm. Quartile rankings are comparisons of the performance of a fund to other funds in a particular category and are subject to change monthly. The quartiles divide the data into four equal segments expressed in terms of rank (1, 2, 3 or 4). These are the Morningstar quartile rankings of Series A units of the funds (except for the following: Trimark Diversified Income Class (Series T8), Trimark Diversified Yield Class (Series PT6), Trimark Canadian Fund (Series SC), Trimark Fund (Series SC), Trimark Income Growth Fund (Series SC) and Trimark International Companies Class (Series P)), as at January 31, 2014. Source: Morningstar Research Inc., as at January 31, 2014.

The Morningstar Risk-Adjusted Rating, commonly referred to as the Star Rating, relates the risk-adjusted performance of a fund to that of its category peers. Morningstar calculates ratings only for categories that contain at least five funds with sufficient history. To determine a fund's rating, the fund and its peers are ranked by their Morningstar Risk-Adjusted Returns. If a fund scores in the top 10% of its fund category, it receives five stars (High); if it falls in the next 22.5%, it receives four stars (Above Average); a place in the middle 35% earns a fund three stars (Neutral or Average); those in the next 22.5% receive two stars (Below Average); and the lowest 10% get one star (Low). Morningstar also accounts for instances where a fund is sold in multiple versions (corporate class, trust, F-class, etc.) In order to prevent one fund from unfairly taking up many places in a portion of the ratings scale, Morningstar treats multiple versions of a fund as "fractional funds". The multiple versions of a fund are all rated, but they collectively count as one and so leave more room for other deserving funds.

Also, Morningstar calculates Star Ratings within separate universes for mutual funds and segregated funds. This enables investors to make more relevant comparisons within the two groups of funds. Seg funds include an insurance component, which adds to their costs. That translates into higher management expense ratios, which reduce investment returns. The overall Star Rating for a fund is a weighted combination of its three, five, and ten year ratings. If a fund has less than three years' performance history, it is not rated. If it has at least three but less than five years' history, its overall rating is equal to its three-year rating. If it has at least five but less than ten years' history, its overall rating is equal to 60% five-year rating and 40% three-year rating. If it has at least ten years' history, its overall rating is equal to 50% ten-year rating, 30% five-year rating and 20% three-year rating.

Morningstar Risk-Adjusted Ratings are recalculated monthly. For greater detail on the calculation of the Morningstar Star Ratings, you may visit Morningstar's website (www.morningstar.ca)

Ratings are those of Morningstar and Invesco does not guarantee accuracy.

Lipper disclaimer: Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by Lipper. Any use of the data for analyzing, managing, or trading financial instruments is at the user's own risk. This is not an offer to buy or sell securities. Some funds may be excluded from award contention if, in the opinion of Lipper's Research staff, the portfolio no longer meets Lipper's classification requirements or has undergone too many classification changes or changed classifications recently. The calculation periods end at October 31, 2013.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Any indicated rates of return are the historical annual compounded total returns including changes in security values and reinvestment of all distributions, and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder, which would have reduced returns. Mutual funds are not guaranteed and their values change frequently. Money market funds are not covered by the Canada Deposit Insurance Corporation (CDIC) or by any other government deposit insurer. The performance data provided for money market funds assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder, which would have reduced returns. There can be no assurances that the money market funds will be able to maintain their net asset value per security at a constant amount or that the full amount of your investment in the funds will be returned to you. Past performance of mutual funds may not be repeated. Please read the prospectus before investing. Copies are available from your advisor or from Invesco Canada Ltd. This presentation is not intended to provide legal, accounting, tax or specific investment advice. If such advice is required, the services of a competent professional should be sought. The information contained in this presentation was obtained or compiled from sources believed to be reliable; however, Invesco Canada cannot represent that it is accurate or complete.

*Invesco is a registered business name of Invesco Canada Ltd.

Invesco and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. PowerShares® is a registered trademark of Invesco PowerShares Capital Management, LLC (Invesco PowerShares). Trimark and all associated trademarks are trademarks of Invesco Canada Ltd.

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