This manager prefers birds of a feather

By focusing on a group of diversified businesses, Manulife's Prakash Chaudhari is able to be less concerned about today's macro uncertainties

Michael Ryval 1 August, 2019 | 3:01AM
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Bird flock on beach

Equity markets seem to be shrugging off ongoing U.S.-China trade and tariff wars and uncertainty about the policy moves by the Federal Reserve Board. Yet Prakash Chaudhari is an active investor who tends to avoid macro-economic developments and focuses instead on a group of companies that have high returns on capital and are well diversified to reflect a conglomerate approach to stock selection.

“The index is clearly indifferent to valuation and fundamentals and weights are typically related to market cap. Following the index makes for a passive approach. But we far from complacent. The fund has just less than 20% cash, versus 15% in early December,” says Chaudhari, Senior Portfolio Manager and Managing Director at Toronto-based Manulife Investment Management and lead manager of the five-star rated $1.8 billion Manulife Dividend Income Plus F.

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Michael Ryval  

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