Jeffrey Burchell- Aston Hill Asset Management Inc.

Manager aims for U.S. stock exposure with low volatility.

Michael Ryval 29 August, 2014 | 6:00PM
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Jeffrey Burchell is focused on running a U.S. equity fund with low volatility so that older investors will be cushioned against the occasional bumps that beset markets.

"Managers that are restricted to one asset class will never turn their back on it," says Burchell, manager of the $227-million  Aston Hill Capital Growth and co-chief investment officer at Toronto-based Aston Hill Asset Management Inc. "But my fund is much more dynamic. That's why we run with such a low beta, which ranges from 0.20 to 0.70."

Burchell believes that managers who favour highly priced stocks must be confident that corporate earnings are accelerating, since otherwise their portfolios are highly vulnerable. "Very rarely does a high multiple turn into a really high multiple," he says. "So we've been more 'tepid' on the asset class and looking for opportunities to generate return. But most important, we're focused on preserving capital."

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Michael Ryval

Michael Ryval  Michael Ryval, a regular contributor to Morningstar, is a Toronto-based freelance writer who specializes in business and investing.

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