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Multi-Asset

Our Asset Strategy team leverages the deep knowledge of the various asset team leads to construct an actively managed, multi-asset class portfolio of fixed income, domestic and foreign equities. A combination of top-down analysis, bottom-up selection and risk conscious construction is utilized to add value for our clients.


Learn More About Our Investment Strategies

Our Asset Strategy team leverages the deep knowledge of the various asset team leads to construct an actively managed, multi-asset class portfolio of fixed income, domestic and foreign equities. A combination of top-down analysis, bottom-up selection and risk conscious construction is utilized to add value for our clients.


Philosophy

  • Active asset management has the potential to deliver superior rates of return.
  • An asset’s ability to generate income creates value.
  • Diversification reduces risk and enhances returns.


Process

When building a balanced portfolio, we use a disciplined three-point process:

  1. Starting with macroeconomics, monetary and fiscal policy, and global political trends, we review recent performance and forecast potential rates of return and volatility for each asset class.
  2. Based on this assessment, we design a target portfolio with the optimal asset mix to capture those rates of return, keeping the Fund’s risk objectives in mind.
  3. We then implement from the bottom-up, using public and proprietary research and a disciplined selection process for trading the individual securities in the portfolio.

As active managers, we continually challenge our assumptions, using experienced insight to interpret the latest economic and market trends.

Inception: 1992

Portfolio Asset Mix:
Fixed Income
Public Equities

Fund Snapshot:
Balanced Fund

As the investment environment has become more complex, old paradigms have had to change. Pension plans, endowments and foundations striving to meet their funding and spending goals have recognized the need to incorporate alternative investments into their asset mix.


Philosophy

  • Active asset management has the potential to deliver superior rates of return.
  • An asset’s ability to generate income creates value.
  • Diversification, including the use of direct alternatives, reduces risk and enhances returns.


Process

When building a balanced plus fund portfolio, we use a disciplined three-point process:

  1. Starting with macroeconomics, monetary and fiscal policy, and global political trends, we review recent performance and forecast potential rates of return and volatility for each asset class.
  2. Based on this assessment, we design a target portfolio with what we consider to be the optimal asset mix to capture those rates of return, keeping the Fund’s risk objectives in mind.
  3. We then implement from the bottom-up, using public and proprietary research and a disciplined selection process for trading the individual securities and private alternative assets in the portfolio.

As active managers, we continually challenge our assumptions using experienced insight to interpret the latest economic and market trends.

Inception: 2015

Portfolio Asset Mix:
Alternatives
Fixed Income
Public Equities

Fund Snapshot:
Balanced Plus Fund

The Target Date Plus Funds were built using our direct alternative asset capabilities and a retirement driven investing (RDI) philosophy. RDI is a framework that directly links the investment strategy with members’ savings in order to achieve retirement objectives.


Philosophy

  • Retirement Driven Investing (RDI)
  • The Target Date Plus Funds were built using a philosophy we call retirement driven investing (RDI). The RDI philosophy involves understanding actual retirement needs and actual savings patterns of Canadians and building an investment solution that works with the member’s savings to help meet their retirement needs. Similar to LDI’s relationship with DB plans, RDI entails building an investment strategy around the end objectives of DC plans and their members.


Objective

The investment objective of the Target Date Plus Funds is to provide a family of diversified investment vehicles that seek to provide superior long-term investment returns while reducing the volatility of the Funds, as their maturity dates approach. Primary investments include equity, fixed income, and alternative asset classes, including real estate, infrastructure and mortgages.


Process

The Target Date Plus Funds’ process starts by taking the inputs of our long-term asset class assumptions and Canadian demographic and socio-economic assumptions and running them through our proprietary glide path modelling system. At a high level, this modelling process considers all available asset classes and then utilizes Monte Carlo simulations, risk mitigation in a DC context and efficient frontier analysis with a subjective overlay to produce our Glide Path.

Each Fund’s strategic asset mix is based on our Glide Path Model, in concert with investment strategies specific to each asset class.

Inception: 2015

Portfolio Asset Mix:
Alternatives
Fixed Income
Public Equities

Fund Snapshot:
Target Date Plus Funds

When TD Greystone Asset Management (“TD Greystone”) first opened its doors in 1988, alternatives were a component of our investment solutions to institutional clients. We truly believed — from day one — that a well-diversified portfolio should include alternative investments.

Alternative investments (i.e. real estate, infrastructure, and private debt, which includes mortgages) have historically offered improved diversification (i.e. lower correlation and lower volatility), stable long-term cash flows, asset-liability matching and inflation hedging. At TD Greystone, we leverage the deep knowledge of our alternatives team to construct an integrated open-ended Alternatives Mandate that provides investors with access to multiple asset strategies in a scalable and efficient manner.


Philosophy

  • We believe over the long term, the income generated by alternative assets contributes the majority of the total return.
  • Consequently, TD Greystone's philosophy is to protect, grow and build the income stream of the Greystone Alternative Plus Solution*.
  • We follow an income/income growth approach involving active management and multi-dimensional risk management.


Process

TD Greystone follows a disciplined, repeatable investment process to identify investments and actively manage a fully diversified alternatives portfolio. The process consists of the following steps:

Top-down Analysis

  • Macroeconomic trends
  • Local market conditions

Bottom-up Analysis

  • Robust due diligence process
  • External and internal research

Model

  • Determines portfolio diversification
  • Monitors policy compliance
  • Manages cash flows

Team

  • Team-based, hands on decisions

Portfolio Asset Mix:
Real Estate
Mortgage
Infrastructure

Fund Snapshot:
Alternative Plus Solution

* The TD Greystone Alternative Plus Solution is an integrated open-ended alternatives mandate where a client invests in the Greystone Infrastructure Fund (Canada) LP, the Greystone Mortgage Fund and the Greystone Real Estate Fund Inc. or the Greystone Real Estate LP Fund. TD Greystone Asset Management holistically manages the underlying cash flows and liquidity of the allocation as well as the asset mix between the underlying strategies.

Looking for a Multi-Asset Class Solution? inquiries@greystone.ca

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