Greg Eckel at Morgan Meighen & Associates (MMA) manages closed-end equity fund, Canadian General Investments, Limited (CGI), with a steady, level-headed and patient approach to investing with low portfolio turnover. However, this strategy should not be underestimated as CGI has a very commendable long-term track record of outperformance. The manager is unconstrained by benchmark allocations and so far this year, CGI’s performance has benefited from a meaningful above-market weighting in technology companies and a larger below-market allocation to financial stocks. Having had an underweight exposure to energy stocks for many years, Eckel has been adding to the sector as he believes that the current favourable commodity supply/demand balance is sustainable, while strong cash generation is enabling increased return to shareholders.
Comments