Anish Chopra of Portfolio Management is holding about 20 per cent cash, 76 per cent equities and 4 per cent fixed income right now
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“We’re not looking to keep the cash reserves for an extended period, but we just haven’t seen that many opportunities in the markets lately,” says Mr. Chopra, managing director and portfolio manager at Portfolio Management Corp. in Toronto, who oversees more than $500-million in assets. “We just haven’t seen anything that makes us make the trade-off between earning 4 and 5 per cent in Treasury bills or short-duration cash instruments versus long equities,” he says.
The asset mix and selection of 35 to 40 stocks have helped Mr. Chopra keep his clients out of the red during the recent market volatility. His growth portfolio returned 4.7 per cent over the 12 months ended April 30, and has seen a compounded average annual return of 10.2 per cent over the past three years. His performance is based on total returns, net of fees.
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