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Portfolio Manager: Avenue Investment Management 
Manager of - HARVEST Banks & Buildings Income Fund
- HARVEST Canadian Growth & Income Fund
- HARVEST Sustainable Income Fund
- Global Advantaged Telecom & Utilities Income Fund
Avenue Investment Management is a Toronto based firm that has developed a consistent track record in the Equity and Income categories. Their investment methodology involves finding quality and well managed companies that they believe have a dominant and unique competitive advantage. They focus on quantifying the intrinsic value of companies and taking a position in them when they are selling at a discount to value.
Avenue was formed in 2002 and until recently has focused exclusively on the Private Client market and selective Flow Through products. Avenue follows a disciplined Investment Methodology that involves;
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Finding well-managed companies that have a competitive advantage in their market
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Determining if the company’s intrinsic value is at a discount to its market value
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Opportunistically buying when these discounts exist
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Holding the position until the company no longer meets the valuation criteria
Avenue will hold as many as 35 positions in an equity portfolio and up to 17 in a fixed income portfolio. They consider themselves owners of a business and therefore take as long as a 3 year hold horizon on positions. A company will be reviewed for sale if and when:
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Underlying fundamentals have changed
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Unfavorable changes in management occur
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Changes occur in the competitive or regulatory environment
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Intrinsic value and market value is achieved
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Risk/reward profile does not warrant increasing the investment
Each of Avenue’s three main portfolio managers is a partner of the firm, has over 20 years of investment experience and a special area of focus. They are: Paul Harris, Global Equities with a focus on interest sensitive sectors; Paul Gardner, Fixed Income and REITs and Bill Harris, Global Resource sectors
Please feel free to view their website at www.avenueinvestment.com | 
