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March 31, 2026
Diversification Rewarded Amid AI and Geopolitical Shocks

Dividend Strategy 1Q26: The Strategy held up in a volatile quarter, benefiting from a sizable underweight to IT during a sharp software selloff and an overweight to energy as geopolitical tensions drove oil prices higher.

March 31, 2026
Challenging Long-Held Assumptions Amid Disruption

Mid Cap 1Q26: Mid cap equities posted positive returns during the quarter, outperforming both large and small cap peers as market leadership broadened amid a highly volatile quarter.

March 31, 2026
Panning for Fresh Sources of Growth

International Growth EAFE 1Q26: We see a better setup for the Strategy as growth’s valuation premium narrows and we reposition into newer areas of growth outside technology.

March 31, 2026
Stabilizing Growth Setup Through Volatility

Large Cap Growth 1Q26: The Strategy outperformed in a risk-off quarter, supported by diversified contributions outside of mega cap technology.

March 31, 2026
The Long View: Climbing the Wall

Given our constructive economic and market outlook, we believe the market will ultimately climb today’s wall of worry higher as several of investors’ leading fears are assuaged.

March 31, 2026
Value Resilience Amid Volatility

Value 1Q26: Value stocks outperformed, even as volatility and sector rotations challenged broader equity markets.

March 31, 2026
Volatility Returns, Selectivity Matters

Appreciation 1Q26: Amid rotating market leadership and heightened inflation, policy and labor risks, a few positive trends urge selectivity and strong fundamentals in portfolio construction.

March 31, 2026
Rotation, Volatility and Opportunity in SMID Growth

SMID Cap Growth 1Q26: The Strategy outperformed in a volatile quarter, driven by strong stock selection as shifting market leadership created new opportunities across SMID growth.

Blogs

Pricing the Shock: Oil, Volatility and Portfolio Resilience
The Strait of Hormuz disruption is a classic information-rich shock, driving extreme oil volatility and forcing markets to reprice growth, inflation and recession risk.
Why Infrastructure Holds up Amid Middle East Inflation Pressures
Utilities in North America and Europe, pipelines and toll roads are positioned to withstand and grow through commodity-driven shocks such as the current Middle East conflict is creating.
Gulf Conflict Rewrites Energy Outlook
High-quality upstream oil and LNG-linked equities offer disciplined exposure in a market where geopolitical risk now drives oil prices.
Infrastructure Takeaways from the U.K. Spring Statement
Rising energy-related inflation risks underscore the importance of U.K. energy security and the attractiveness of regulated infrastructure businesses with revenues linked to their regulated asset bases.
Evaluating Canadian Equity Implications from Iran Conflict
War can embed a persistent risk premium in crude oil. This is typically constructive for upstream Canadian energy producers and supportive for Canada’s “secure supply” positioning.