For financial security in turbulent times, a thought out and balanced investment portfolio can result in peace of mind. Montreal-based investment manager Landry Morin has built a reputation for prudent financial management with years of proven discretionary portfolio management for private clients, pension funds, foundations and endowment funds.
Landry Morin was founded in 2002 by Jean-Luc Landry and Richard Morin, Principals, on the premise of delivering optimal returns on personalized investment policy tailored specifically to the circumstances, wants, needs and comfort of the client. In that time, Landry Morin grew to be a mid-size firm in Canada.
In a time when many people are questioning the best approach to finance management, Landry Morin has a sober and proven approach to navigating—and explaining—international markets. For added security, the assets of Landry Morin’s clients are held by TD Waterhouse Institutional Services, a subsidiary of TD Bank. “Landry Morin does pure investment management and none of the back office work, so we don’t touch the assets of the client,” says Landry. “We selected TD because it is the largest, possibly most efficient firm in Canada.”
Landry Morin essentially runs two businesses under one umbrella: Landry Morin Funds, a family of equity funds available through investment advisors in Quebec and Ontario as well as a hedge fund which exploits a proven quantitative systemic strategy managed internally, and diversified and tailored portfolios comprised of domestic and international exchange traded funds.
For one, how does Landry Moring protect its clients and their investments? “Our hedge fund has done well, especially in the summer during that difficult period,” says Morin. “That is what it is designed for and that is what it did.”
Typically, Landry Morin’s 150 direct clients are high net worth individuals, endowment funds and pension funds.
Asked about the Canadian markets, Landry says the domestic economy is not as fragile as it is represented in media, and feels concern for clients who are understandably anxious about the state of affairs. “I find it difficult for our clients,” he says. “Maybe I am more patient than average, I find that clients find it more difficult as time goes by with these deep cycles we have. But it is more fear than reality. In this downturn we are down five per cent, but people pick up the paper and think their portfolio has just collapsed.”
“Two factors lead us to believe there is a good chance this bear market will be over by year-end,” reads Landry Morin’s Third Quarter Review. “First, an analysis of the 10 bear markets since the 1950s shows that once the stock market has fallen 20 per cent, two things can happen: the market will continue to drop for a total loss of 50 per cent or it will decline on average another five per cent to 10 per cent and then recover quite quickly. The conditions that would lead to a total decline of 50 per cent are not present because equities were not expensive at the peak and there is little chance that the potential recession will be very severe.”
Landry Morin uses a mix of exchange traded funds and its own proprietary funds to construct diversified and balanced portfolios that can withstand the ups and downs of financial markets.
“A typical balanced portfolio will hold close to 50 per cent in fixed income securities and assets that are not correlated with the stock market,” says Morin. “This constructs a conservative portfolio for the client. 20 per cent of our private client assets are invested in Landry Morin funds, the other 80 per cent are invested in broadly diversified corporate and government bonds and stocks in Canada, U.S., international and emerging markets.”