How We Invest
The Charter Group Asset Management manages discretionary model portfolios within TD Wealth Private Investment Advice. Our investment team makes the asset allocation and security selection decisions in-house.
Discretionary management means we make day-to-day investment decisions within the mandate agreed with you, without seeking your approval for each trade.
Our Investment Process
Research
Our research combines an assessment of economic conditions with analysis of individual investments. Interest rates, government policy and the availability of capital help shape our view of industries and markets.
We assess what a business earns, how it is financed and the price of its shares. A favourable outlook does not make an investment attractive at any price. Valuation is part of both the decision to buy and the decision to continue holding it.
Building the portfolio
We set the asset mix for each model, then select the holdings and determine position sizes. Equities provide the main opportunity for long-term growth. Fixed income supports income and liquidity and can help moderate fluctuations. Gold or other commodity exposures may be included where appropriate.
The models hold liquid investments, including individual securities and selected ETFs. We review both the holdings and the asset mix as conditions change.
Managing risk
We assess risk at the level of each investment and across the portfolio. Position size, liquidity and exposure to common economic risks all matter. Diversification is considered in terms of how holdings may behave together.
When an investment declines, we examine whether the business outlook has changed or the market is pricing the same prospects differently. That assessment informs whether we continue to hold it.
Who makes the decisions
Mark Jasayko and Keith Henderson co-lead the team and both serve on its investment committee. Mark leads portfolio strategy, asset allocation and security selection. Keith works on portfolio management and client advice, including how the investments fit with each client’s financial plans.
Investment changes are decided centrally for the models. Your lead advisor discusses your needs with you and whether the selected mandate still fits.
Our model portfolios
The models follow the same investment philosophy and a broadly consistent approach to equity selection. The main difference is the asset mix, which changes the balance between growth, income and risk.
Conservative P1
Emphasizes capital preservation and lower volatility within our model range.
Balanced Income P2
Places greater emphasis on income and stability.
Balanced P3
Combines growth investments with fixed income and selected diversifiers.
Balanced Growth P4
Places greater emphasis on long-term growth and accepts more volatility.
Growth P5
Has the strongest growth emphasis in the range, for investors with a longer time horizon who can accept greater fluctuations.
We use this common model framework across client accounts. Individual holdings and weights can differ from model targets because of market movements or the timing of deposits, withdrawals and trades.
What to expect
Every model can decline in value, including the conservative model. Diversification can reduce some risks, but it cannot prevent losses. There will also be periods when our portfolios lag other investments or benchmarks.
We review what has changed in the investments and whether the reasons for holding them still stand. A change in your own needs may also warrant a different mandate.
