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Find all things ETFs here: investment strategies, products, insights and more.

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Why consider a long/short equity fund?

Long/short equity funds can generate returns from both rising and falling stock prices. How? While holding undervalued stocks, portfolio managers can short overvalued stocks. This can provide meaningful downside protection during market drawdowns. With a low correlation to traditional asset classes, long/short equity strategies may offer a less volatile way to access the equity markets and better portfolio diversification.

The PH&N Canadian Equity team

6
portfolio managers and analysts		 $16.5+ billion
billion in assets under management		 65+ years
years of combined experience

The PH&N Canadian Equity Team leverages their existing and established philosophy and process, based on a growth-at-a-reasonable-price (GARP) investment approach. They believe that:

  • Fundamental research drives outperformance
  • High-quality businesses outperform
  • Focus on long-term value creation is key
  • Volatility creates opportunity
  • Multiple complementary disciplines provide the best ideas

Portfolio construction

portfolio construction en
Long exposure expected to be 50% - 150%.
Short exposure expected to be 50% - 100%.
Short selling avoids high beta names, penny stocks and companies with expensive borrowing rates.
Market exposure is expected to range from 25% -75% of the S&P/TSX Composite Index. Exposure is based on the team’s bottom up return forecast for the market.
Position sizing is commensurate with conviction, using a measure called Impact Risk. Maximum of 8% for long positions, 5% for short positions.

Absolute returns

Targets meaningful outperformance in drawdowns, resulting in equity-like returns over a full cycle.

Diversification

Seeks to provide a lower correlation to traditional asset classes, focusing on high-quality, growing companies.

Expertise

Leverages the PH&N Canadian Equity Team’s diverse set of insights and follows a collaborative, disciplined investment process.

ESG integration

Engages with companies on material ESG factors and the risks associated with these factors.

Resources

To learn more about PH&N Long/Short Canadian Equity Fund, speak to an advisor.

Disclosure

This information is not intended to be an offer or solicitation to buy or sell securities or to participate in or subscribe for any service. No securities are being offered, except pursuant and subject to the respective offering documents and subscription materials, which may be provided to qualified investors only. This document is for general information only and is not, nor does it purport to be, professional advice or a complete description of an investment in any fund managed by RBC Global Asset Management Inc. (RBC GAM). If there is an inconsistency between this document and the respective offering documents, the provisions of the respective offering documents shall prevail. Information obtained from third parties is believed to be reliable, but no representation or warranty, express or implied, is made by RBC GAM, its affiliates or any other person as to its accuracy, completeness or correctness. RBC GAM and its affiliates assume no responsibility for any errors or omissions.

Investments in alternative funds are speculative and involve significant risk of loss of all or a substantial amount of your investment. Alternative funds may: (i) engage in leverage and other speculative investment practices that may increase the risk of investment loss; (ii) can be highly illiquid; (iii) are not required to provide periodic pricing or valuation information to investors; and (iv) are not subject to the same regulatory requirements as prospectus-offered mutual funds. In assessing the suitability of this investment, investors should carefully consider their personal circumstances including time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their professional advisors and consultants regarding any tax, accounting, legal or financial considerations before making a decision as to whether the funds mentioned in this material are a suitable investment for them.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund’s offering documents before investing. The performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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© RBC Global Asset Management Inc., 2022