Portland Investment Counsel Inc. is registered as a portfolio manager. This page describes the services that it provides you under this registration, as we manage your money for you, often referenced as being your ‘Discretionary Manager’. We work with you to understand your entire financial situation, which translates into providing the best possible portfolio solutions for the amount of money that you invest with us with ongoing updates to your financial situation as you remain invested. As we manage your money we apply fees for those services, summarized as:
||Flat Fee by Asset Class per annum
|Exchange Traded Funds
|Other Equities and Instruments
|Cash and Equivalents
We don’t charge fees for simply holding your cash and will always provide you with notice should this fee structure change.
Should you choose to invest with Portland Investment Counsel Inc., your assets will be held with our custodian, the National Bank of Canada. There are fees that the National Bank of Canada will charge your account. In general, the National Bank of Canada will charge a flat $13 commission for each trade that we complete in your account. In addition, the National Bank of Canada will charge a 0.05% per annum custodial fee on the value of your accounts. Basically our approach will be to seek ways to grow your wealth and constrain fees.
Please refer to the fee schedule located in your managed account agreement with us for a complete listing of the fees that are applicable.
Now, a bit more about us
We are no ordinary investment counsel. We are certainly smaller than the big bank-owned investment firms and deliberately located away from the ‘noise’ large investment firms tend to generate.
Based in Burlington, Ontario, our name comes from the birthplace of Michael Lee-Chin, our founder. Portland, with its capital town of Port Antonio, is a parish located on Jamaica’s northeast coast. It is one of the rural areas of Jamaica, containing part of the Blue Mountains, now famous for its rather special brand of coffee.
Wealth is generally created by business people, not by governments or central bankers. Although we believe that enlightened governments should provide social inclusion through healthcare and education, fight to reduce poverty and strive to provide an equitable path to opportunity for all, a country’s business people will generally hold the responsibility of wealth creation. At Portland, we are business professionals. We follow investment principles which guide our everyday actions. We have experience as investors, owners and operators of successful businesses. We understand that to invest successfully requires a sound intellectual framework, control of emotions and access to opportunities.
We believe that wealth is created by owning a few well-understood businesses which reside in long term growth industries, use other people’s money prudently and holding those businesses for the long run. With this in mind, we choose to invest in quality companies which consist of a number of factors, including: leadership by an owner/operator; concentrated and easily identifiable ownership with key stakeholders being personified in the company; autocratic and entrepreneurial management; low managerial turnover, symmetrically distributed risks/rewards; a clear focus on achieving long-term goals and growth; and valuation of the companies based on business fundamentals.
“We are excited about our investment approach and grateful for the opportunity to share it with you.”
Wealth can be created one investment decision at a time. As owners and operators of private businesses, we use our experience to build portfolios that we expect to withstand the test of time and allow compounding of wealth. Successful investing includes owning assets we understand. As such, our investment decisions are deliberate, taking care that quality opportunities are included in our portfolios. We continually persevere in our search for what we believe are quality businesses at fair prices. Our opportunity for success is broadened through our access to private securities and alternative strategies. For generations, successful institutions and affluent investors have achieved above average rates of return by utilizing an asset mix which combines traditional and private investments. We have endeavoured to leverage our investment approach by associating ourselves with other business professionals and eminent asset allocators, sharing access to such opportunities with our investors along the way.
Unashamedly, our bias is to invest your money alongside ours and other clients in Portland’s investment funds and private equity products. If you choose only to place a part of your wealth with us then we would always look first at your suitability to invest in the private and alternative investments we manage, assuming your residual wealth is being invested in more traditional ways (public equity and debt). Since we seek to invest in a few well-understood businesses rather than a more diversified approach, our results can be expected to be more concentrated and perhaps different from the general market over shorter periods of time, but we will invest based on our philosophy while understanding your needs and our desire to help make you wealthier.
Take a look at Portland’s Private Wealth team. We are a small group within Portland Investment Counsel Inc. who have made it our mission to create wealth for our investors, one investment decision at a time, one investment mandate at a time, one individual at a time. We are excited about the road ahead, grateful for the opportunity to share it with you, and are always happy to discuss.
Doing well and doing good
EUCALYPTUS PLANT NURSERY, APSD BIOMASS, GHANA, AREF
COOPEGUANACASTE SOLAR PARK, COSTA RICA, MSEF I
PANAMASATARA, INDIA (REAF)
At Portland, we believe that investing for the greater good is an element of the social contract that we all have with each other as members of society. Since launching the Portland Global Energy Efficiency and Renewable Energy Fund LP (“Portland GEEREF”) in 2013, we have been watching others follow similar commitments to impact investing. Portland GEEREF co-invested in a private equity and infrastructure fund of funds (Global Energy Efficiency and Renewable Energy Fund “GEEREF”) with the European Investment Fund, Germany, Norway as well as pension funds and endowment funds across the world. GEEREF seeks to provide access to sustainable energy and increase energy efficiency in developing countries and economies in transition. GEEREF’s portfolio is investing indirectly in 160 projects and in 2018 had reached an equivalent of over 1.6 million beneficiary households in at least 15 countries. GEEREF’s current projects eliminate 2.9 million tonnes of CO2 equivalent per annum and have created over 6,000 permanent and temporary jobs. Once GEEREF’s underlying projects are fully built, it is expected to improve access to approximately 12 million households annually in 24 countries with the largest number located in Africa, thereby expected to reduce about 8.2 million tonnes of carbon dioxide annually – an equivalent to taking about 1.6 million cars off the road. We are proud and delighted with Portland GEEREF and so have and will create more funds with similar socially conscious purposes.
The Illiquidity Discount1