Wealth Management
Caldwell Investment Management Ltd. relies on a team of experienced Portfolio Managers to manage individual and corporate accounts with assets over one million dollars.
Caldwell Investment Management Ltd. uses only top quality government bonds with mid-term maturities and shares of senior corporations. Securities are selected for each individual client based on his own objectives, goals and requirements, as they are set out with the designated Portfolio Manager. Daily supervision safeguards each client's assets in a changing political and economic environment. There are no surprises regarding the securities selected for individual portfolios because we publish a "List of Approved Equities" of major corporations, created by the company and readily available to clients.
Compensation for portfolio managers is fee based. The fees are based on the market value of the portfolio and deducted quarterly from the client's account. Currently, the fees are 1% per annum based on the first one million dollars (with a reduced scale thereafter). The investment management fee is an allowable deduction for income tax purposes. There are no safekeeping or transfer fees charged for securities held by Caldwell Securities Ltd.
Caldwell Investment Management Ltd. adheres to the following guidelines in order to ensure that clients can receive significant benefits while avoiding conflicts or partial services without safeguards:
- Only the shares of senior corporations, as published in our "List of Approved Equities" are chosen
- Only government bonds with mid-term maturities are selected
- Bond management is based on institutional market spreads
- Direct and independent research contact with corporations
- A committee approach – a strong team with diverse inputs and views
- Portfolio managers do not receive commissions for accounts they manage. They are compensated on the basis of asset size and and growth
- Focus on professional and personal service with results
Research Services
Caldwell Investment Management Ltd. has access to much of the fundamental research produced in the investment industry and subscribes to numerous outside research services. We also conduct our own research on both micro and macro topics and the results are well regarded. Caldwell Securities Ltd. handles investment transactions for numerous institutions and individuals and this develops an overall market sense. The Management Team at Caldwell conducts continuous management interviews to form their purchasing decisions regarding specific stocks and the direction of the industry as a whole.
The initial evaluation step in the selection process is divided among our Portfolio Managers. Each is allocated companies on our "Approved List" and has the mandate to seek out further additions to that list.
From a fundamental perspective, we examine:
- Management (strength, commitment, credibility, depth and focus).
- Solvency considerations (e.g. debt to equity levels, free cash flow, earnings and product position).
- Industry position.
- Quality of earnings and dividends – present and future.
- Growth prospects.
- The "fit" within our overall strategic/economic view.
- Relative valuations within its industry and to related industries.
- Liquidity of the shares to be purchased.
- The potential to be objectively analyzed (e.g. no "concept" stocks).
- Soft items, such as voting shares.