Canada's Top Fund Prospects in 2024: Invesco Select Balanced

This new addition to our list of Canadian funds to watch this year has a long-term equity sleeve that pairs with a notable fixed-income group.

Michael Dobson 15 March, 2024 | 4:22AM
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Read the rest of Morningstar Canada's Q1 2024 Prospect List here, and tune in for our next featured addition on Monday.

Why Did It Catch Our Eye?

Invesco Select Balanced Fund has seen a lot of manager change in the past 10 years, but Alan Mannik has been a mainstay here for more than a decade. Since he became lead manager in 2014, performance has turned around.

What Is It?

The fund combines a version of Mannik’s Invesco Select Canadian Equity, also managed by Mannik, with a nearly all-Canada bond portfolio managed by Invesco’s US-based fixed-income group headed by Michael Hyman. Mannik uses a bottom-up, benchmark-agnostic, and long-term philosophy. The fixed-income group combines top-down macroeconomic research with bottom-up credit selection. Managers let the opportunities they find determine the fund’s asset mix.

Why Is It on the List?

Mannik learned his style as an analyst at Trimark Investments, which has produced other well-regarded managers. Similar to other Trimark alumni, Mannik is patient and invests with a business-owner mentality; he tries to hold investments for five years and looks past quarter-to-quarter results to find opportunities. Morningstar also has awarded good ratings to the funds run by the US-based fixed-income team.

Source: Morningstar Direct.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Invesco Select Balanced F30.60 CAD-0.12Rating

About Author

Michael Dobson  is a Manager Research Analyst at Morningstar Canada.

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