Managers:
Jeff Herold (lead manager)
Maria Berlettano
Dax Letham
Chris Johne

Portfolio manager(s): Jeff Herold (lead manager), Maria Berlettano, Dax Letham, Chris Johne

Fixed Income Specialty Management

For investors seeking a relatively stable and secure return, fixed income provides a high quality, liquid component to a portfolio. To serve clients with unique needs and mandates, we approach fixed income with a robust, multi-strategy approach that has consistently generated low-risk, above-benchmark returns in all market conditions.

An integral element of our multi-strategy approach is positioning the portfolio for anticipated changes in interest rates. Forecasting interest rate changes begins with a broad economic outlook, considering the pace of growth, the rate of inflation as well as North American monetary policy. What becomes interesting and adds significant value is predicting how markets respond to these shifts. In constructing our portfolio, we combine bonds with various durations to optimize yield and term structure as well as use our cash position strategically. This approach has positively impacted our returns.

Our team does in-depth research and analysis of the Canadian bond market, identifying sectors with strong relative value and selecting individual securities that meet our requirements for credit risk, covenant protection and liquidity. Issuers are selected on the basis of their business and financial risk profiles, management strength, growth plans and financial policies. Final security selection is based on relative value and its suitability within the strategic portfolio structure.

J Zechner Associates is widely recognized for our strong performance in fixed income. Our process stands apart for its rigorous credit analysis and taking decisive action when we believe sectors are over-valued.


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Please note, J Zechner Associates pooled funds are intended for Canadian investors only.

    Who Qualifies as an Accredited Investor?

  • An individual who, alone or together with a spouse, owns financial assets worth more than $1 million before taxes but net of related liabilities;
    or
    An individual, who alone or together with a spouse, has net assets of at least $5,000,000.
  • An individual whose net income before taxes exceeded $200,000 in both of the last two years and who expects to maintain at least the same level of income this year;
    or
    An individual whose net income before taxes, combined with that of a spouse, exceeded $300,000 in both of the last two years and who expects to maintain at least the same level of income this year
  • An individual who currently is, or once was, a registered adviser or dealer, other than a limited market dealer
  • Financial institutions
  • Governments and governmental agencies
  • Insurance companies
  • Pension funds
  • Registered charities
  • Certain mutual funds, pooled funds and managed accounts
  • Companies with net assets of at least $5 million
  • persons or companies recognized by the OSC as an accredited investor

from the Ontario Securities Commission.

1.866.259.6482
 
Private Wealth
Rhonda Gibson
416.867.8975
 
Institutional Investment
David Cohen, President
416.867.8649 Follow @JohnZechner
J. Zechner Associates Inc. operates as Investment Fund Manager, Exempt Market Dealer and Portfolio Manager.

© 2010 J. Zechner Associates Inc.