Focus on the survivors

TD Dividend Growth’s Doug Warwick focuses on companies that have high barriers to entry in good industries, with good balance sheets

Diana Cawfield 23 April, 2020 | 1:23AM
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In these volatile times, veteran asset manager Doug Warwick favours a buy-and-hold philosophy, and maintains an approximate 40% weighting in Canadian banks in his bronze-rated TD Dividend Growth mandate.

“What’s happened in the last month was not on my radar screen, but the banks had return on equity of mid-to-high teens, which is better than most industries, and they trade at fairly low multiples relative to other stocks. These banks are great, the balance sheets are strong, but they’re going to have a tougher year or two going forward,” says Warwick, managing director at TD Asset Management in Toronto. He holds approximately 50% in the financial sector. 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Bank of Montreal128.60 CAD0.18Rating
Bank of Nova Scotia78.20 CAD0.14Rating
Brookfield Asset Management Inc Class A55.63 USD-1.00
Canadian National Railway Co146.90 CAD-0.11Rating
Enbridge Inc50.67 CAD-0.08Rating
Royal Bank of Canada127.72 CAD-0.34Rating
Suncor Energy Inc25.53 CAD0.16
The Toronto-Dominion Bank83.20 CAD0.01Rating

About Author

Diana Cawfield

Diana Cawfield  Diana Cawfield is an award-winning writer who has been a regular Morningstar contributor since 2000. Her numerous publication credits include the Toronto StarAdvisor's Edge and Chatelaine, as well as the Canadian Securities Institute's online educational services.

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