What’s the strategy?
The Commercial Mortgage (Portico) portfolio strategy invests primarily in Canadian commercial mortgage investments, which seeks to generate more income than government bonds of a similar term, while creating a portfolio that is less interest-rate sensitive because of its shorter duration.
This portfolio strategy leverages the expertise and experience within the Great-West Life (GWL) Commercial Mortgage team. The GWL Commercial Mortgage team sources, underwrites and manages the commercial mortgage deals. 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 investors seeking to diversify their fixed-income exposure with a portfolio of high quality commercial mortgages geographically diversified across Canada.
This portfolio enjoys a very low delinquency rate on its mortgages, which is a testament to the team’s rigorous risk management process.
It also offers higher interest income than bonds of a similar term because of the higher yield premium on mortgages. This makes the portfolio less sensitive to interest rate changes and therefore less volatile than the broad market.
This unique portfolio strategy is a good complement to traditional bond investments and offers greater diversification through mortgages not typically available to investors, and access to highly specialized and experienced portfolio management.
Data for institutional investors
Vice-President, Fixed Income
Dale shares leadership responsibility for GLC’s Portico Investment Management division, which oversees more than $18 billion* of fixed-income assets under management within bond, mortgage and money market portfolios.
As lead manager for the Core Bond portfolio strategy, Dale heads up the portfolio management of the largest Canadian bond segregated fund in Canada.* He also oversees some of Portico's sector-focused and specialized fixed income portfolios.
Dale has more than 25 years of investment experience, including direct portfolio management responsibilities for active and passive fixed income strategies.
He holds a Chartered Investment Manager designation as well as an honours bachelor of business administration degree in finance from Brock University.
* Source: London Life Core Bond Fund, Morningstar, June 30, 2017
Senior Vice-President, Mortgage Investments
David Grieve was appointed Senior Vice President, Mortgage Investments for Great-West Life in March 2016, with overall responsibility for a team of 50 professionals engaged in risk adjudication, origination and loan underwriting servicing, and administration.
David has held roles of increasing seniority and scope within the industry, including more than 25years of experience in commercial mortgage lending, capital markets, risk oversight, and deal structuring across Canada and international markets.
David holds a Bachelor of Economics degree from the University of Western Ontario.
Portfolio attributes and rates of return reflect the portfolio strategy used by the London Life segregated fund shelf.
Past performance is no guarantee of future results.
There is no guarantee that investment objectives, or risk or return targets discussed in this material will be achieved. No part of this material may be reproduced or redistributed in any form without express written permission of GLC Asset Management Group Ltd. The data provided is for information purposes only. This material is not intended to be read in isolation and may not provide a full explanation of all the topics that are presented and discussed. Information contained in this material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. Furthermore, there can be no assurance that any trends described in this material will continue or that forecasts will occur; economic and market conditions change frequently. This material should not be considered a recommendation or offer to purchase or sell any particular investment.