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

Campfire

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 Montreal83.16 CAD-1.11
Bank of Nova Scotia56.39 CAD-1.38
Brookfield Asset Management Inc Class A32.60 USD-3.86
Canadian National Railway Co134.84 CAD-2.28
Enbridge Inc37.52 CAD-1.24
Royal Bank of Canada94.10 CAD-2.27
Suncor Energy Inc16.09 CAD-2.43
The Toronto-Dominion Bank59.37 CAD-1.92

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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