Aventine Management Group
Barry Hirowatari CIM, FCSI
Advising Representative (Portfolio Manager)
As the Advising Representative (Portfolio Manager) at Ewing Morris & Co. Investment Partners Ltd, Barry Hirowatari is the sub-advisor to the AlphaDelta Tactical Growth Class Fund.
Amanda O’Reilly, CFA
Advising Representative (Portfolio Manager)
Amanda O’Reilly began her career in the Financial Services Sector in 2008 working in the cage at RBC Dominion Securities and quickly moved up to Branch Administrator in 2009. With an excitement for growth Amanda made the move to work for Barry in 2011 as he launched his first fund. Amanda is co-manager of the AlphaDelta Tactical Growth Fund. Amanda is a CFA® charterholder, passing all three levels consecutively, and is a member of the Vancouver CFA® Society.
About Ewing Morris & Co. Investment Partners Ltd Management Group
What Does The Fund Invest In?
The AlphaDelta Tactical Growth Fund is a trend following growth fund that seeks superior capital gains with reasonable volatility through the active management of concentrated positions.The Fund follows a multi-disciplinary investment process whereby quantitative, fundamental and market trend analysis are combined with a hard-wired, technical sell discipline. The Manager seeks to identify enduring trends in the equity markets and harmonize the Fund’s asset mix and positioning to those investment opportunities. If the primary, long term equity market trend turns negative the Manager will exit equities in favour of non-correlated asset classes like cash, US Treasuries and gold.
Investment Philosophy
The Manager believes that a successful investment process must produce two key attributes: (1) an investment model with a positive excess return expectancy, and (2) a risk management framework that captures significant upside while minimizing losses.In addition the Manager makes 3 core philosophical assertions which serve as the guiding investment principles of the Fund from a portfolio strategy standpoint:
- Companies with superior earnings performance have superior share price performance. The Fund seeks to invest in companies with favourable industry dynamics, strong EPS growth momentum, a history of positive earnings surprises and strong relative price strength.
- How much of a stock you own is equally as important as which stocks you own. We refer to relative size of our positions as “Heat” and feel that this is the most overlooked characteristic in portfolio construction. The Fund follows a wealth maximization strategy that adds to winners as they rise and cuts losers as they fall. The objective is to have the Fund’s largest holdings also be its best performing positions.
- Your sell discipline is equally as important as your purchase discipline. The Manager believes that sell-side investment research is perpetually over-optimistic and that “fundamental sell” recommendations only come after large losses have already been sustained. The Fund uses a hard-wired, technical sell discipline that removes emotion from the decision making process to both lock in gains as well as protect capital.