Ian Soutar

An industry veteran who buys businesses rather than stocks.

Michael Ryval 31 December, 2004 | 2:00PM
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An industry veteran who has seen numerous stock market cycles, Ian A. Soutar is a buyer of businesses rather than stocks. As such, he shuns macro-economic calls, and focuses strictly on small and medium-sized companies that have strong management and excellent long-term growth prospects.

"It starts with the people: We have to be very comfortable that they are experienced in what they are doing and have demonstrated more rapid growth than their industry peers," says Soutar, 68, co-manager of the $388.8-millionGBC Canadian Growth since its November 1988 inception and vice-chairman of Pembroke Management Ltd. in Montreal.

"We really stress that we are backing entrepreneurs and that they have 'skin in the game,'" he says, adding that prospective companies must generate 15% earnings per share growth or better.

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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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