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Investment Strategies

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Not all investment strategies and products offered by Gluskin Sheff are available to non-Canadian investors. By entering the Canadian Investor section of the Gluskin Sheff website, you acknowledge and represent that you are an investor resident in Canada. If you do not meet this qualification, please select International Investors.

35 years of thoughtful investment management

Investment Philosophy

 

We are long-term investors and build portfolios designed to meet clients’ long-term financial goals for investment management.

 

We combine Gluskin Sheff’s expertise in stock and bond investing with Onex’  successful track record in private equity and private credit to offer a robust and diversified asset allocation platform. This enables us to build bespoke portfolios for each client—combining the public and private investment vehicles suitable to their unique investment objectives, liquidity needs and risk profiles.

 

This sophisticated approach to asset allocation is typically only accessible by the world’s most successful institutions and wealthiest families.

PUBLIC EQUITY

Bottom-up research and a thorough assessment of a company and its management help drive investment decisions within our public equity strategies. We look for companies with long-term growth and stability, a proven track record, shareholder-minded management and a share price that is trading below our estimate of intrinsic value. We offer various strategies focused on providing different income and return profiles across all market caps and geographies.

FIXED INCOME & CREDIT ALTERNATIVE

Our fixed income & credit alternative strategies provide actively managed, global exposures in a non-equity correlated asset class. Our strategies are able to protect against interest rate risk, which in turn guards against the potential loss of capital that could occur if interest rates rise and, as a direct result, bond prices fall. In addition, we actively manage the credit and geographic exposures of each of our strategies. With a focus on absolute returns and low correlations to equity markets, these strategies form an important part of our clients’ asset mix.

PRIVATE EQUITY

Onex’ private equity platform focuses on acquiring and building high-quality businesses in the United States, Canada and Europe across various market caps. With a focus on execution theses rather than macro-economic or industry trends, long-term value creation is our only goal.

PRIVATE CREDIT

Onex Credit invests primarily in non-investment grade debt through its collateralized loan obligations, private debt and other credit strategies. We practice value-oriented investing, employing a bottom-up, fundamental and structural analysis of the underlying borrowers. We seek to generate strong risk-adjusted and absolute returns across market cycles.

Long-term track record

  • Equities

    GS+A PREMIUM INCOME STRATEGY

    Our flagship GS+A Premium Income Strategy, which invests primarily in dividend-paying Canadian equities, has generated an annualized net return of 12.5% over its 20-year history.

    Growth of 1 Million Dollars

    $1 million invested in our GS+A Premium Income Strategy on September 1, 2001 (its inception date) would have grown to $10.29 million on June 30, 2021.

    Equities

    Disclaimer

     

    The returns for the Premium Income Strategy are presented on a pro forma basis reflecting the application of the new fee structure to the historical returns of the strategy. The new fee structure was implemented on Jan. 1, 2020. Past returns are not necessarily indicative of future performance. Pooled strategy returns are available upon request.

     

    Inception: September 1, 2001. Periods of less than one year are non-annualized.

     

    Investment amount is presented only to illustrate the effect of past performance of the Premium Income Strategy on an investment of $1 million at inception. It is presented net of fees and expenses and on a pro forma basis. It is not intended to reflect future value of any portfolio or returns on investments in any portfolio.

  • Fixed Income

    BLAIR FRANKLIN GLOBAL CREDIT STRATEGY

    Our track record and expertise spans different asset classes. The Blair Franklin Global Credit Strategy has generated an annualized net return of 11.4% over its 15-year history.

    Growth of 1 Million Dollars

    $1 million invested in our Blair Franklin Global Credit Strategy on February 28, 2006 would have grown to $5.24 million on June 30, 2021.

    Fixed Income

    Disclaimer

     

    Returns for the Global Credit Strategy are presented on a pro forma basis reflecting the application of the new fee structure to the historical returns of the strategy. The new fee structure was implemented on Jan. 1, 2020. Returns are stated in Canadian dollars and are net of all expenses, management fees and accrued incentive fees. Strategy returns have been audited with the exception of 2019 return data. Past returns are not necessarily indicative of future performance.

     

    The inception date for the Blair Franklin Global Credit Fund LP (“Global Credit Fund”, formerly the Blair Franklin Multi-Strategy Fund LP) was Mar. 1st, 2004. The Global Credit Strategy’s return since inception is 410.20%. As of Mar. 1st, 2006 the Global Credit Strategy’s focus moved to fixed income. The Global Credit Strategy’s return since Mar.1st, 2006 is 352.27%.

     

    Annualized return is net and shown for the period from Mar. 31st, 2006 to June 30th, 2021, which represents the period in which the Blair Franklin Global Credit Strategy’s focus has been on fixed income.

Long-term track record

  • Equities

    GS+A PREMIUM INCOME STRATEGY

    Our flagship GS+A Premium Income Strategy, which invests primarily in dividend-paying Canadian equities, has generated an annualized net return of 12.5% over its 20-year history.

    Growth of 1 Million Dollars

    $1 million invested in our GS+A Premium Income Strategy on September 1, 2001 (its inception date) would have grown to $10.29 million on June 30, 2021.

    Equities

    Disclaimer

     

    The returns for the Premium Income Strategy are presented on a pro forma basis reflecting the application of the new fee structure to the historical returns of the strategy. The new fee structure was implemented on Jan. 1, 2020. Past returns are not necessarily indicative of future performance. Pooled strategy returns are available upon request.

     

    Inception: September 1, 2001. Periods of less than one year are non-annualized.

     

    Investment amount is presented only to illustrate the effect of past performance of the Premium Income Strategy on an investment of $1 million at inception. It is presented net of fees and expenses and on a pro forma basis. It is not intended to reflect future value of any portfolio or returns on investments in any portfolio.

Equity Strategies

  • The GS+A Premium Income Strategy seeks to provide dividend income and long-term capital appreciation by investing in high quality dividend paying companies across the dividend spectrum with a predominant focus on publicly traded Canadian securities.

  • The GS+A International Strategy seeks to achieve capital appreciation by investing primarily in a variety of growth and value securities listed on international exchanges outside of Canada and the U.S.

  • The GS+A U.S. Equity Strategy seeks to provide steady income and capital appreciation by investing in a diversified portfolio of investments across a broad range of industries, in larger- capitalization publicly traded U.S. securities.

  • The GS+A Dividend Distribution Strategy seeks to provide stable cash flow with the potential for modest capital appreciation by investing primarily in a diversified portfolio of high yielding, high quality, income producing equities and debt securities.

  • The GS+A Global Special Situations Strategy seeks to achieve positive absolute returns by investing primarily in a concentrated portfolio of equity securities that we believe are undervalued relative to their long-term potential across a broad range of market capitalizations, geographies and sectors.

Fixed Income & Credit Alternative Strategies

  • The Blair Franklin Global Credit Strategy seeks to provide positive absolute returns by gaining economic exposure to a diversified portfolio of securities and financial instruments, including derivatives, in a variety of world markets.

    Winner of the 2011 Canadian HF Awards Winner of the 2015 Canadian HF Awards Winner of the 2016 Canadian HF Awards
  • The GS+A Government Bond Duration Strategy targets a constant duration using Canadian 10-year bond futures. This strategy seeks to provide consistent and stable income while offering exposure to Canadian and U.S. government bond curves.

  • The GS+A Enhanced Bond Strategy seeks to achieve capital appreciation and stable income by investing in a concentrated portfolio of stable, income-generating corporate bonds across a broad universe of companies and credit ratings.

Cash & Equivalents

  • The GS+A U.S. Dollar High Interest Cash Strategy seeks to provide clients with stable income and capital preservation. This strategy invests in interest-bearing accounts, banker’s acceptances, deposits and other interest-bearing U.S. dollar denominated instruments with financial institutions, publicly traded debt, preferred equity securities and related derivatives, including without limitation, both corporate and government debt, preferred shares and other income-producing securities.

  • The GS+A High Interest Cash Strategy seeks to provide Unitholders with stable income and capital preservation. This strategy invests in interest bearing accounts, banker’s acceptances, deposits and other interest-bearing instruments with financial institutions, and highly rated investment grade publicly traded debt.

Onex Credit Strategies

    • Onex High Yield Bond strategy: Long-only credit strategy focused primarily on investments in sub investment grade cash bonds. Seeks to generate attractive risk adjusted returns that outperform the ICE BoA MLUS HY index (J0A0) through a full credit cycle.
    • Onex Senior Credit: A long only credit strategy focused exclusively on first-lien senior secured North American loans and bonds.
    • Onex Capital Solutions: Privately originated capital solutions as well as secondary trading opportunities in companies facing transition. The strategy focuses on transactions that leverage Onex’ institutional knowledge and targets middle market transactions where Onex believes it can most effectively “drive the outcome”.
    • Onex Structured Credit Strategy: the strategy seeks to generate attractive risk-adjusted returns with some downside protection and current income (vehicle dependent) across the entire CLO capital structure from equity to investment grade notes.
    • Onex Falcon: This strategy provides high value senior credit solutions to middle market companies primarily in North America.

Wealth Planning

The better we understand your overall financial situation, the better we can manage your investments.

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