In an environment of low interest rates and bond yields, dividends offer the prospect of a reliable income stream, with global diversification providing more opportunities to maintain and increase income.
By taking a ‘go anywhere’ approach that allows the management team to invest across global markets, the fund invests in companies across a wide range of geographies, sectors and market capitalisations.
The fund is an actively managed portfolio of dividend-paying company shares that seeks to add value for investors by investing in stocks that are at a price below the managers’ assessment of intrinsic value.
LOW TURNOVER APPROACH
With their buy-and-hold approach to investing, the management team seeks to keep portfolio turnover as low as possible.
Past performance is not a guide to future performance. The value of investments may fall as well as rise and investors may not get back the amount invested. Income from investments may fluctuate. Currency fluctuations can also affect performance. Performance figures are on a bid to bid with net income reinvested basis. Valuations are based on the previous day's prices.
The managers on the fund are guided by their value investment philosophy, seeking to pick stocks at a price below their assessment of reasonable value. They target stocks where management have both the willingness and ability to distribute meaningful dividends to shareholders. While the fund does not target specific regional or sector weights, the managers seek to maintain a sensible level of diversification. Risk is minimised by focusing on valuation, financial and operational risk measures and therefore the degree of downside protection, rather than focusing on measures of market volatility or beta.
The LF Canlife Global Equity Income aims to provide income with the potential for some long-term capital growth principally through investment in global shares. The fund invests in companies across a wide range of geographies, sectors and market capitalisations which are believed to offer dividend yields. The fund may also invest in collective investment schemes, cash, money market instruments, other transferable securities and derivatives and forward transactions for the purposes of Efficient Portfolio Management.
The fund is part of Canada Life Investments’ Global Partner Series. This is a suite of funds created in partnership with companies within the Great-West Lifeco group and associated companies in Canada, the US and Ireland. The LF Canlife Global Equity Income Fund is managed by the Global Dividend Team at Setanta Asset Management. Setanta is an independent asset manager, based in Dublin and established in 1998. It is a wholly owned subsidiary of Canada Life Irish Holding Company Limited, which is in turn owned by Great–West Lifeco Inc.
Portfolio Manager, Global Dividend Team
Richard Doyle, CFA, joined Setanta in 2008. He co-manages Setanta’s various income-oriented portfolios, the Dividend Fund, Income Opportunities Fund and Reditus Income Fund. Richard is also responsible for management of the Global Energy and Materials sector within the Global Equity Fund.
He began his career in 2000 as a trainee fund manager at Scottish Investment Trust. Prior to joining Setanta, he worked at Bank of Ireland Asset Management as an equity manager. Richard has a B.A. in Economics from the University of Dublin, Trinity College and has been a CFA Charterholder since 2003.
Portfolio Manager, Global Dividend Team
David Pastor, CFA joined Setanta Asset Management in 2007. He has 12 years experience in the asset management industry, the last 9 on an analyst/fund manager capacity. He co-manages Setanta’s various income-oriented portfolios, including the Dividend Fund, Income Opportunities Fund and Reditus.
David is also responsible for management of the Global Infrastructure sector within the Global Equity Fund. He has a BS in Business Administration from Universidad de Burgos and is a member of the Association of Chartered Certified Accountants (ACCA). David is also a CFA charterholder.
Caroline White, CFA joined Setanta in 2016 and has 10 years’ experience in the asset management and finance industry. Caroline works as an Investment Analyst, currently for the Setanta Income suite, providing stock analyses and idea generation.
She spent 4 years with Bank of America Merrill Lynch and 3 years as an Analyst and Assistant Portfolio Manager at Kinsale Capital Management before joining Setanta. She has a BBS from Trinity College Dublin and is a CFA Charterholder since 2014.
Interested in this fund and would like to find out more?
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CANADA LIFE INVESTMENTS HEAD OFFICE
T: +44 (0)20 7415 6546