Despite their under-representation, several portfolio managers have left their mark on the industry. (Photo: 123RF)
Standing Out: Three Inspirational Canadian Portfolio Managers
Female fund managers remain a notable minority in the Canadian market. According to the latest data from Morningstar Direct, only 12% of mutual funds have at least one female fund manager. Despite their under-representation, several have left their mark on the industry. Here are three.
Heather Peirce, Black Creek Investment Management
Heather Peirce is an accomplished portfolio manager with an impressive career spanning over 30 years in global equities. She has worked for Black Creek Investment Management for ten years, where she co-manages the CI Global Leaders Fund.
Prior to joining Black Creek, Ms. Peirce held senior executive roles at Gryphon International, Invesco Trimark, and RBC Asset Management. During her time at the head of several global funds, she developed a flair for identifying quality companies with clear competitive advantages. Her strong conviction and strong commitment to delivering exceptional results for her clients sets her apart from the rest.
Hilda Applbaum, Capital Group
Hilda Applbaum had a long and distinguished investment career with one of the world’s largest asset management firms: Capital Group.
She started working there 28 years ago and was soon named head of two funds she still helps manage today: American Funds American Balanced and American Funds Income Fund of America, in addition to two others. Canadian Funds: Capital Group Global Balanced Fund Canada and Capital Group Monthly Income Portfolio.
For the two US funds, it invests in stocks, although it also has the flexibility to invest substantially in bonds for the second. She has served as Chief Investment Officer of Income Fund of America since 2005 and of the two Canadian funds since their launch in 2015 and 2020.
Given the mandate of these funds, Applbaum focuses on dividend-paying stocks for both portfolios. Income Fund aims to get bigger payouts for investors and Ms. Applbaum structures her portfolio accordingly, but avoids companies that are having problems and offering stellar returns. She tends to stick with her choices for long periods of time and tries to limit the risk of permanent capital losses. It also tries to cap downside risk by maintaining its valuation discipline, selling holdings when they seem fair value.
Erin Browne, PIMCO
Since joining the firm in 2019, Erin Browne has reinvigorated the multi-asset efforts of bond giant PIMCO. She is the head of the firm’s asset allocation group, and she is also the lead manager of the PIMCO RealPath Blend target maturity series offered in the United States, which is rated Gold. which enable him to ensure that the views of the firm’s investment committee are appropriately reflected in all of PIMCO’s managed bond funds.
Prior to joining PIMCO, she served as Head of Asset Allocation at UBS and Global Macro Portfolio Manager at high visibility hedge fund Point72 Asset Management.
Ms. Browne currently oversees PIMCO’s Asset Allocation Funds and Target Date Series while serving as a non-permanent member of the firm’s Investment Committee. Its multi-faceted perspective has helped both PIMCO Managed Conservative Bond Pool and PIMCO Managed Core Bond Pool outperform their peers and secure themselves in the first quartile of their category. Both funds have a Morningstar Bronze Quantitative Rating.
Female fund managers remain a notable minority in the Canadian market. According to the latest data from Morningstar Direct, only 12% of mutual funds have at least one female fund manager. Despite their under-representation, several have left their mark on the industry. Here are three.
Heather Peirce, Black Creek Investment Management
Heather Peirce is an accomplished portfolio manager with an impressive career spanning over 30 years in global equities. She has worked for Black Creek Investment Management for ten years, where she co-manages the CI Global Leaders Fund.
Prior to joining Black Creek, Ms. Peirce held senior executive roles at Gryphon International, Invesco Trimark, and RBC Asset Management. During her time at the head of several global funds, she developed a flair for identifying quality companies with clear competitive advantages. Her strong conviction and strong commitment to delivering exceptional results for her clients sets her apart from the rest.
Hilda Applbaum, Capital Group
Hilda Applbaum had a long and distinguished investment career with one of the world’s largest asset management firms: Capital Group.
She started working there 28 years ago and was soon named head of two funds she still helps manage today: American Funds American Balanced and American Funds Income Fund of America, in addition to two others. Canadian Funds: Capital Group Global Balanced Fund Canada and Capital Group Monthly Income Portfolio.
For the two US funds, it invests in stocks, although it also has the flexibility to invest substantially in bonds for the second. She has served as Chief Investment Officer of Income Fund of America since 2005 and of the two Canadian funds since their launch in 2015 and 2020.
Given the mandate of these funds, Applbaum focuses on dividend-paying stocks for both portfolios. Income Fund aims to get bigger payouts for investors and Ms. Applbaum structures her portfolio accordingly, but avoids companies that are having problems and offering stellar returns. She tends to stick with her choices for long periods of time and tries to limit the risk of permanent capital losses. It also tries to cap downside risk by maintaining its valuation discipline, selling holdings when they seem fair value.
Erin Browne, PIMCO
Since joining the firm in 2019, Erin Browne has reinvigorated the multi-asset efforts of bond giant PIMCO. She is the head of the firm’s asset allocation group, and she is also the lead manager of the PIMCO RealPath Blend target maturity series offered in the United States, which is rated Gold. which enable him to ensure that the views of the firm’s investment committee are appropriately reflected in all of PIMCO’s managed bond funds.
Prior to joining PIMCO, she served as Head of Asset Allocation at UBS and Global Macro Portfolio Manager at high visibility hedge fund Point72 Asset Management.
Ms. Browne currently oversees PIMCO’s Asset Allocation Funds and Target Date Series while serving as a non-permanent member of the firm’s Investment Committee. Its multi-faceted perspective has helped both PIMCO Managed Conservative Bond Pool and PIMCO Managed Core Bond Pool outperform their peers and secure themselves in the first quartile of their category. Both funds have a Morningstar Bronze Quantitative Rating.
