Dividend Stocks Kept Matrix Fund On An Even Keel

Matrix Tax Deferred Income led the pack with an annualized gain of 9.5 per cent, and managed to do so despite charging a higher-than-average fee. Cassels Investment Management Inc., which runs the equity side, has hired Brookfield Asset Management to oversee the bond portion. “We buy companies that have a history of dividend increases and prospects for dividend increases going forward,” said Liis Palmer, a portfolio manager with Cassels Investment Management. “They are good businesses with a competitive advantage or brand strength.”

Over three years, some of the fund’s gainers included liquor giant Diageo PLC and international tobacco company Philip Morris International Inc. Smaller high-yielding securities like Alaris Royalty Corp., which provides financing to private companies, and Westshore Terminals Investment Corp. also helped performance. “Westshore is yielding almost a 5-per-cent dividend,” she said. Canada is the biggest country weighting on the equity side. Domestic stocks include energy names like Bonavista Energy Corp., Arc Resources Ltd. and Keyera Corp. that have “good distributions,” Ms. Palmer added.

Source: Globe and Mail

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