What’s the strategy?
The Commercial Mortgage Institutional (Portico) strategy invests primarily in Canadian commercial mortgage investments, with the goal of providing a higher yield over comparably rated public market bonds while providing investment grade credit quality.
This portfolio strategy leverages the expertise and experience within the Canada Life Commercial Mortgage team. The Canada Life Commercial Mortgage team sources, underwrites and manages the commercial mortgage investments. This highly specialized and experienced team has a long history of investing in Canadian mortgages and has established a strong marketplace reputation and disciplined credit underwriting expertise. The Portico Investment Management team offers capital market expertise, portfolio management oversight and liquidity management. Both portfolio managers pursue tested and strongly vetted processes within a culture of strong risk management.
Why invest in this portfolio strategy?
Ideal for institutional investors seeking additional yield compensation without significant increase in credit risk versus comparable quality public bonds (e.g. credit metric deterioration, default risk).
This unique commercial mortgage strategy is a good complement to traditional bond investments and offers:
- Greater diversification through access to borrowers not typically available in public markets
- Access to longer-term mortgage deals
- Access to highly specialized and experienced portfolio management.
Vice-President, Fixed Income
Dale is lead manager for the Portico Core Bond portfolio strategy, one of the largest Canadian bond segregated funds in Canada. As a senior portfolio manager within GLC’s fixed income division (Portico Investment Management), he also oversees some of Portico's sector-focused and specialized fixed income portfolios.
Dale began an investment career in 1990 that has included direct portfolio management responsibilities for active and passive fixed income strategies. Dale credits his deep fundamental and disciplined approach to corporate credit analysis to his varied experience early in his career, including accounting, asset liability management and a diverse educational background.
He holds a Chartered Investment Manager designation as well as an honours bachelor of business administration degree in finance from Brock University.
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This portfolio strategy is available for the institutional investor through our relationship with the institutional investment solutions team, a division of Great-West Life Group Retirement Services.
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