The Globe and Mail spoke with Dennis Mitchell of Starlight Capital about his investment strategy and what he’s been buying and selling
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“Some people think that we’re in for a meaningful recession, which I don’t see just yet because the consumer has been extremely resilient,” says Mr. Mitchell, who oversees about $1-billion in assets. The firm’s Starlight Global Real Estate Fund was down 7.4 per cent for the year ended Jan. 31 and up 8.4 per cent in January of this year. The Starlight Global Infrastructure Fund was up 2.4 per cent for the year ended Jan. 31 and rose 3.5 per cent in January. The Stone Dividend Growth Fund was down 3.2 per cent for the year ended Jan. 31 and was up 4.7 per cent for the first month of this year. The performance data are based on total returns and net of fees for the firm’s Series F funds.
When it comes to diversified equities, there’s an advantage to owning businesses that have demonstrated their ability to grow cash flows and dividends over long periods. An example is the Canadian banks that consistently drive strong returns on equity and have been consistent dividend growers. Another example is Cargojet Inc.
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