Portland Energy Opportunities Alternative Fund


lee-chin

Portfolio Manager

Michael Lee-Chin, B.Eng., LLD (Honorary)
Executive Chairman, Chief Executive Officer and Portfolio Manager

Mr. Lee-Chin has over 35 years industry experience.

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berbecel

Portfolio Manager

Dragos Berbecel, CFA, MBA
Portfolio Manager

Dragos Berbecel has 20 years of experience, both as an investment professional and a business operator.

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Fund Brief

Fund Details

Fund Net Assets $0.1 million
CIFSC* Asset Class Alternative Equity Focused
Risk Tolerance Medium to High

Investment Objective

  • The Fund’s objective is to provide positive long-term total returns by investing primarily in a portfolio of global energy focused securities.
  • The Fund may also engage in borrowing for investment purposes.

Key Reasons To Invest

Close adherence to Framework:
Five Laws of Wealth Creation:

  • Own a few high quality businesses
  • Thoroughly understand these businesses
  • Ensure these businesses are domiciled in strong, long-term growth industries
  • Use other people’s money prudently
  • Hold these businesses for the long run

How The Fund is Managed

  • The Manager aims to take advantage of opportunities across the energy space as the sector transitions from fossil fuel to renewable energy sources.
  • Investment decisions incorporate fundamental analysis and adhere to a value discipline.
  • Investments are managed with a long term focus.
  • The result is a low turnover, concentrated portfolio.
  • The Fund’s holdings are what we believe to be quality companies which are growing, profitable, stable and shareholder friendly.
  • The Fund’s investments are focused on, but not limited to, North American listed equity securities.

Potential Risks

  • The Manager believes the following risks may impact the performance of the Fund: concentration risk, currency risk, equity risk, leverage risk and debt securities risk. Please read the “What are the risks of investing in the Fund?” section in the Simplified Prospectus for a more detailed description of all the relevant risks.

Geographic Allocation
As at October 31, 2020

United States 43.9%
Cash & Other Net Assets (Liabilities)1 41.0%
Canada 15.1%

Sector Allocation
As at October 31, 2020

Cash & Other Net Assets (Liabilities)1 41.0%
Oil & Gas Exploration & Production 36.2%
Integrated Oil & Gas 7.5%
Oil & Gas Refining & Marketing 6.5%
Oil & Gas Storage & Transportation 4.0%
Renewable Electricity 2.4%
Independent Power Producers & Energy Traders 1.5%
Oil & Gas Equipment & Services 0.9%

Top Holdings2
As at October 31, 2020

Cash & Cash Equivalents 41.1%
Parsley Energy, Inc. 9.5%
EOG Resources, Inc. 8.1%
Pioneer Natural Resources Company 7.5%
Diamondback Energy Inc. 7.3%
Valero Energy Corporation 4.9%
Occidental Petroleum Corporation 4.4%
Canadian Natural Resources Ltd. 3.8%
Cenovus Energy Inc. 3.1%
TransAlta Renewables Inc. 2.4%
Enterprise Products Partners, L.P. 2.2%
Parkland Corporation 1.6%
Northland Power Inc. 1.5%
Pembina Pipeline Corporation 0.9%
Enbridge Inc. 0.9%
CES Energy Solutions Corp. 0.9%

Use of any third party quotations does not in any way suggest that person endorses Portland Investment Counsel Inc. and/or this product.

* Canadian Investment Funds Standards Committee

1 Other Net Assets (Liabilities) refers to all other assets and liabilities in the Fund excluding portfolio investments.

2 Where the Fund holds less than 25 holdings, all investments have been disclosed. There may be other assets and liabilities which are not included, and therefore the summary does not add up to 100%

3 Generally available through dealers who have entered into a Portland Series F Dealer Agreement.

RISK TOLERANCE

Risk tolerance measures the degree of uncertainty that an investor can handle regarding fluctuations in the value of their portfolio. The amount of risk associated with any particular investment depends largely on your own personal circumstances including your time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their financial advisor before making a decision as to whether this Fund is a suitable investment for them.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. The indicated rates of return are the historical annual compounded total returns including changes in units [share] value and reinvestment of all distributions [dividends] and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. The rates of return are used only to illustrate the effects of the compound growth rate and are not intended to reflect future values of the mutual fund or returns on investment in the mutual fund. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Information presented in this material should be considered for background information only and should not be construed as investment or financial advice. Please consult a Financial Advisor. Every effort has been made to ensure the utmost accuracy of the information provided. Information provided is believed to be reliable when posted. All information is subject to modification from time to time without notice. Consent is required for any reproduction, in whole or in part, of this piece and/or of its images and concepts. Please read the Prospectus before investing. PORTLAND INVESTMENT COUNSEL and the Clock Tower Design are registered trademarks of Portland Holdings Inc. used under licence by Portland Investment Counsel Inc. BUY. HOLD. AND PROSPER. is a registered trademark of AIC Global Holdings Inc. used under license by Portland Investment Counsel Inc.