Franklin ClearBridge Canadian Equity managers Garey Aitken and Tim Caulfield’s experience and long track record set them apart from most in the Canadian Equity category and makes the fund an intriguing option for investors looking for a lower volatility domestic equity fund. The strategy earns a Morningstar Medalist Rating of Bronze on its cheaper share classes.
Process
The ClearBridge team scours the universe for what it believes to be reasonably priced companies that are consistently growing cashflows. The portfolio has some nuances, though. For example, the team will own companies that collect steady mining royalties rather than more speculative exploration ventures. Aitken and Caulfield have final say on all portfolio moves.
People
The duo has led this strategy since 2007 and have steered it through multiple market cycles. Aitken joined the team in 1998 and became a named manager in 2002, while Caulfield joined as a co-manager in 2007. They’re a part of the legacy Franklin Bissett team that merged with ClearBridge, another Franklin Templeton boutique, in 2022. The Calgary-based group retained its focus on domestic equities and acquired new risk management and trading capabilities in the deal.
Performance
The fund has return and volatility objectives. It shoots for high-single-to-low-double-digit returns with a beta (a measure of how sensitive an investment is to broad market moves) of 0.80-0.90. Over Aitken’s tenure, the fund has achieved both. From Jan. 2, 2002, through April 2025, Franklin ClearBridge Canadian Equity F gained 7.9% with a beta of 0.87.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar's editorial policies.
