Perennial Asset Management
about us

When the underlying fundamentals don’t support current valuations we won’t go along for the ride – we’ll wait until the time is right to take advantage of investment opportunities wherever they exist.

Perennial Asset Management is an independent Canadian investment boutique that has been managing discretionary portfolios for private individuals and institutions since 2006. We seek to nurture and grow our clients’ portfolios, whether markets go up or down.

We invest only when we strongly believe our clients will be sufficiently compensated to assume the associated risk. This flexible approach gives us the latitude to implement the necessary defensive posture to protect our clients’ portfolios when we see dangers on the horizon – a prudent mind-set very few wealth managers are equipped to follow.

If we do not foresee adequate upside potential, preserving capital becomes our first priority. After all, history teaches us that investment markets tend to repeat past patterns. Unfortunately, this has generally meant replaying patterns of overbuying, followed by extended periods of capital losses.

Mindful of this reality, at Perennial Asset Management we constantly monitor market data for trends and patterns that can reveal strong historical comparatives to the current market situation. Our goal is to recognize early signals in the marketplace and position our portfolios to benefit well in advance of the coming changes.

This approach sometimes puts us on the opposite side of general market sentiment. We’re okay with that. Not because we like to be contrarian, but because our experience has taught us that market sentiment is largely a reactive phenomenon. We much prefer to anticipate what’s coming… and act accordingly.

Our Team

Murray Belzberg - President, Portfolio Manager
Renowned for helping people achieve their investment goals, Murray’s expertise has been honed over 35 years of successfully growing investment portfolios by drawing from a deep reservoir of unique investing insights and strategies. More >
Jim Ruess - Chief Investment Officer, Portfolio Manager
Jim’s astute abilities as a portfolio manager have been refined over 35 years of successful investing in a wide range of asset classes, both in Canada and globally. More >
Dan Pero - Director of Operations, Portfolio Manager
Dan is responsible for Perennial’s day-to-day investment research and back-office operations, and he is also a member of Perennial’s Investment Committee. More >
Atif Rahman - Analyst

Core Beliefs

When you become a Perennial client, we manage your portfolio as we manage our own. That’s why we adhere to a number of core beliefs to guide and support everything we do to preserve and grow your capital. Specifically, we believe:

  • We must retain our independence and not become beholden to anyone other than you, our client.
  • Your portfolio should earn sensible returns in all market conditions.
  • Managing downside risk is essential to preserving capital – hence we are not compelled to be invested when we think your portfolio will be put at risk.
  • Your portfolio must constantly be scrutinized to ensure it is properly positioned for any approaching economic or market forces.
  • We require the flexibility to utilize a broad array of investment instruments in order to earn you strong profits in all market environments.

Perennial marries these beliefs with our insights, our expertise and – most importantly – our investment judgment as we “walk the talk” to deliver solid risk-adjusted returns for our investors.

Service Providers

At Perennial we are determined to find the best independent service providers to support us at all times. We’ve carefully chosen organizations that provide our portfolios with safety through strong capital structures and industry-leading competencies.

RBC Investor & Treasury Services Inc.

RBC Investor & Treasury Services Inc. (“RBC”) is a wholly owned subsidiary of Royal Bank of Canada, one of the largest and most financially sound banks globally, and one of the top 10 global custodians with over $3 trillion in client assets under administration.

All of Perennial’s client assets are held in pooled trusts at RBC. RBC provides all of the main back-office functions for Perennial, including:

  1. Custody
  2. Unitholder recordkeeping
  3. Trust accounting and valuations
  4. Prime brokerage and securities lending.

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PricewaterhouseCoopers

PricewaterhouseCoopers (“PwC”) is the world’s largest professional services firm and the largest of the “Big Four” accountancy firms, measured by 2012 revenues. PwC has more than 100 years of history in Canada and it is the number one audit firm for investment managers. Perennial’s pooled portfolios are audited annually by PwC, and investors receive copies of these financial statements each year.

PwC

AUM Law Professional Corporation

AUM Law Professional Corporation (“AUM Law”) is a law firm specializing in the asset management industry. Perennial’s legal and regulatory needs are directed with AUM Law’s knowledgeable guidance. AUM Law works closely with market participants, all provincial securities regulators and leading industry associations.

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Borden Ladner Gervais LLP

Borden Ladner Gervais (“BLG”) is the largest full-service Canadian law firm, and with more than 750 lawyers, it is generally recognized as a ‘go-to’ law firm for Fortune 500 companies. BLG assists Perennial in legal matters areas not covered under AUM Law’s focused approach.

Shimmerman Penn LLP

Shimmerman Penn (“Shimmerman”) is an accounting and business advisory firm, with an expertise in asset management. Shimmerman is Perennial’s corporate auditor and also provides Perennial with tax and business advisory services.

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Portfolio Management Association of Canada

Portfolio Management Association of Canada (“PMAC”) is a forum for investment management firms to share best practices and industry knowledge, while advocating the highest standards of unbiased portfolio management in the interest of investors served by members. PMAC currently represents over 170 investment management firms that manage total assets in excess of $800 billion on behalf of millions of high-net-worth and institutional investors.

PMAC

Governance

Perennial treats governance seriously. We adhere to strict standards of professional conduct. All employees confirm their understanding and acceptance of our Code of Conduct annually as a condition of their employment.

Perennial Asset Management Corp. is incorporated under the laws of Ontario, Canada. Perennial is registered with the Ontario Securities Commission as an Investment Fund Manager, Portfolio Manager, Commodity Trading Manager and Exempt Market Dealer. Perennial is also registered as a Portfolio Manager in Alberta, British Columbia, and Manitoba, as well as Portfolio Manager and Investment Fund Manager in Quebec.

Our investors receive quarterly account statements directly from RBC Investor & Treasury Services. Perennial also sends quarterly reports to our clients with a discussion on portfolio returns as well as our investment stance and outlook.

While we send our clients an update quarterly, we welcome the opportunity to speak with investors at any time.

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