Vertex Managed Value Portfolio

- Protect & Progress -

Overview

Portfolio Manager Matthew Wood & Emily Wheeler
Firm Assets $1.37 Billion
Fund Assets $260 Million
Purchase Minimum $25,000 (initial), $10,000 (subsequent)
Type of Fund Opportunistic Value Equity & Income
Inception Date (A) April 3, 1998 (B) October 31, 2003 (F) March 31, 2003
RSP/TFSA Eligible Yes
Performance Fee 20% above the hurdle rate of 5%
Management Fee (B)1.9% (F)1%
High Water Mark No
Hurdle Rate 5%
Valuation Frequency Monthly
Distribution Frequency Annually, if applicable.
Offering Type Offering Memorandum
Administration CIBC Mellon
Trustee CIBC Mellon
Custodian CIBC Mellon
Prime Broker TD Securities Inc.
Auditor PwC

Strategy

Emphasis is placed on equities trading at values of under two-thirds of the general market, that also have annuity stream revenues with lower debt and higher dividends. This results in a portfolio concentrated on fewer sectors of the overall economy such as food, drugs, utilities and financial services. Income is achieved through many avenues: investments in conventional government and corporate bonds, as well as preferred, convertible and broken convertible securities. In addition, the Fund will take advantage of opportunities in higher-yielding equities, securities lending and covered-call writing.

Objective

The principle objective is to provide growth of capital while minimizing volatility through investment in a combination of equities and income securities, while maintaining an opportunistic outlook for unique investment situations. Using a common sense businesslike approach, our core belief is that return is generated through company earnings, not stock trading; thus turnover is limited.

Portfolio Manager

Matthew Wood, CFA - Mr. Matthew Wood is a founding partner and director of Vertex One Asset Management. Mr. Wood has overall responsibility for the investment and trading decisions affecting the Vertex Managed Value Portfolio, Vertex Value Fund and Vertex Enhanced Income Fund. He has operated as the lead manager of the Managed Value Portfolio since its inception on April 3, 1998. Mr. Wood has over 20 years experience investing in equities, fixed income and derivatives. His career began as an analyst, later becoming a Financial Advisor, with Royal Trust. He was a Portfolio Manager with HSBC Asset Management before co-founding Vertex One Asset Management. Mr. Wood holds the professional designation of Chartered Financial Analyst (CFA) and is a member of the Institute of Chartered Financial Analysts.

Fund Codes

  • Class F (NL) : VRT 101
  • Class B (FEL) : VRT 102
  • Class B (DSC) : VRT 103

Purchase Info

  • Minimum Investment :
  • $25,000 for accredited investors

Quarterly Commentary

Second Quarter Report, 2017 - We’re hearing a lot about volatility these days. The word seems to have permeated our investment lexicon. It’s as if there’s something in the investment world that’s void of volatility. “Low vol” is what so many are selling and eager ears are eating it up. I’m not sure what to make of it, but the idea that one can get a decent return today, and...

Vertex Managed Value Portfolio A Performance

View Class B Statistics View Class F Statistics *Annualized compound returns. Returns are Net of all Fees and include reinvested distributions.

Class A Net Asset Value : $27.7426

As at October 31, 2017

1 Month

4.49%

3 Month

11.50%

6 Month

4.51%

YTD

2.55%

1 Year

18.26%

3 Year*

10.35%

5 Year*

15.11%

10 Year*

10.74%

15 Year*

9.99%

Cumulative Return

Since Inception*

Percent Positive Months

488.59% 9.46% 62.55%
 
 
 

Vertex Managed Value Portfolio vs Benchmarks

Relative Statistic

TSX TRI

S&P 500 TRI $USD

Alpha 0.58%0.52%
Annualized Alpha 7.17%6.41%
Beta 0.390.48
Correlation 0.480.60
R-squared 0.230.36

Individual Statistic

FUND

TSX TRI

S&P 500 TRI $USD

Compound ROR 9.46%6.42%7.01%
Standard Deviation 11.97%14.67%14.96%
Cumulative Return 488.59%238.17%280.91%
Sharpe Ratio† 0.710.460.45
Sortino Ratio 1.260.690.72
Largest Monthly Gain 10.40%12.05%10.93%
Largest Monthly Loss -11.70%-20.11%-16.79%
Positive Months 62.55%62.45%63.71%

†Risk Free Rate = 1 Month LIBOR $USD (annualized)

*Returns are based on Class A shares. Inception April 3, 1998

Historical Returns*

*Returns are based on Class A shares. Inception April 3, 1998

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Year

20172.24%3.38%-4.98%-2.30%-5.85%-2.71%2.33%-0.70%7.46%4.49%2.55%
2016-10.25%0.25%7.09%0.45%1.48%0.06%8.65%4.39%1.99%1.85%10.40%4.45%33.52%
20151.59%2.77%-2.55%-0.26%4.28%-1.27%-5.89%-4.94%-5.31%4.62%2.45%-0.46%-5.57%
20142.45%3.41%-1.15%-1.49%0.24%0.70%-4.72%4.76%-3.09%2.36%0.08%3.83%7.14%
20136.42%3.24%5.53%0.19%0.17%2.49%3.29%-1.36%2.22%3.33%3.87%3.18%37.51%
20122.44%2.37%3.02%-1.41%0.44%1.67%-1.48%3.16%2.27%4.31%2.33%3.63%25.09%
20112.74%-1.74%3.09%-1.20%-2.63%-3.44%-5.70%-5.28%-2.29%3.88%2.13%1.24%-9.36%
20100.06%4.03%1.98%2.80%-4.18%-5.46%1.54%-0.23%4.29%2.01%-0.33%3.88%10.30%
2009-6.93%-8.82%3.60%3.58%-2.64%4.50%6.14%8.78%2.00%-1.36%3.62%1.80%13.52%
2008-0.60%-3.03%3.15%-0.45%-0.62%-5.08%5.52%1.91%0.34%-2.87%-1.81%6.01%1.84%
20071.14%-0.67%-0.12%1.49%-1.32%-2.25%-8.90%-1.81%-0.13%-2.98%3.15%-2.36%-14.24%
20061.71%-0.60%1.84%-1.19%-3.75%0.11%3.24%2.82%3.47%3.76%2.29%3.25%18.00%
20051.10%1.83%-1.85%-2.82%4.61%1.30%3.03%-1.37%0.13%-3.81%3.77%-0.47%5.19%
20045.16%2.02%-1.04%-0.43%-1.21%1.50%-1.12%-1.72%0.01%1.98%2.01%3.70%11.15%
2003-2.82%-1.90%-2.59%6.43%6.73%3.33%2.75%2.49%-1.37%1.86%1.13%3.31%20.49%
20021.21%2.42%1.20%2.27%0.89%-3.34%-4.33%0.97%-4.35%0.21%8.16%-1.78%2.91%
2001-3.65%-0.29%-2.48%-1.08%3.70%-2.73%1.01%0.74%-6.76%7.29%2.25%1.54%-1.21%
2000-3.57%7.49%5.50%-0.77%2.63%2.16%1.05%3.86%0.01%0.91%-0.72%5.49%26.22%
19992.80%-4.23%1.26%3.26%-0.20%1.35%-1.00%0.02%0.39%-0.36%4.50%6.46%14.73%
1998-2.21%1.64%2.79%-0.90%-11.70%4.51%1.43%4.42%2.87%1.80%