Adds co-manager Marcello Montanari, vice president and senior portfolio manager, North American equities, “We stay away from very concentrated mandates and try to avoid errors of omission.” Concentration Works If You Pick Winners, But What If You Pick Losers? “We avoid making any direct calls on macro events and instead factor in various probabilities in our analysis,” says Robert Cavallo, portfolio manager of North American equities at Toronto-based RBC Global Asset Management. Shorter-term, for the year-to-date as of June 14, the fund was up a healthy 8.9%, again beating its category and the index. As of June 14, its 10-year average annual compounded return was 10.2%, beating both Morningstar’s Canadian Focused Equity Category and the comparable index return. The F Series, ranked gold by Morningstar, shows top quartile five- and ten-year performance, and has also done well in recent months. The Diversification Advantage Shows in Superior Returns
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