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Harbour Advisors portfolio management update

CI Investments and Harbour Advisors recently announced some important developments regarding the roles and responsibilities of the Harbour investment team. For investors, the changes mean that their funds will continue to be managed by the same highly skilled and experienced team that has managed them since inception

Gerry Coleman and Stephen Jenkins joined CI in 1997 to found Harbour Advisors and through their exceptional portfolio management skills, the Harbour portfolios have grown to a combined total of $14 billion in assets. The changes announced this November are a natural evolution of roles that leave the funds well positioned to continue their strong returns of the past 15 years.

First, Stephen has been promoted to Co-Chief Investment Officer and will lead the Harbour team alongside Gerry. As part of this, Stephen will assume responsibility for the management of the Harbour investment department, allowing Gerry to focus solely on portfolio management. Stephen’s investment career spans 22 years and includes extensive experience in managing both Canadian and global portfolios.  

Second, Gerry and Stephen are switching portfolio management roles. Stephen is now Lead Portfolio Manager of Harbour Fund and Harbour Growth & Income Fund, and Gerry is Lead Portfolio Manager of Harbour Foreign Equity Corporate Class and Harbour Foreign Growth & Income Corporate Class. They will continue to provide back-up for each other as they have in the past.

Both managers have committed to new, multi-year employment agreements, ensuring that they will be an integral part of the Harbour team for years to come.

Gerry and Stephen do not expect to make significant changes to the portfolios, as they belong to the same school of value investing, and both are very familiar with the current holdings of all of the Harbour portfolios. Harbour will continue to follow its team approach in which Gerry and Stephen share research ideas and analysis. They are supported by the work of five analysts, including Aleksy Wojcik and Phil D’Iorio, Portfolio Managers of the successful new Harbour Voyageur Corporate Class.

“Both Steve and I are very pleased with these developments and are re-energized by the change of roles,” Gerry says. “We are excited by the opportunities we see in today’s markets and we look forward to continuing to generate strong returns for our funds’ investors.”

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