Leith Wheeler believes that becoming a large investment firm (based on assets under management) can be detrimental, not beneficial, to clients. Maintaining our position as a medium-sized firm, by controlling the growth of our assets under management, has provided us with the investment flexibility we need to ensure that our ability to find attractive investments is not compromised. This strategy has been very beneficial to our clients and is one we plan to continue. Here is why:

In the Canadian market, where the stock market universe is relatively small, our size means we are large enough to offer depth in our investment teams but small enough to maximize our investment opportunities. Unlike large investment firms, our size gives us the flexibility to take meaningful positions in small and medium-sized companies, in addition to large companies. Over the years we have found that some of the best investment returns come from small and medium-sized firms, which perhaps are less recognized by investors, but offer excellent growth opportunities.

Accordingly, we recently decided to stop accepting new institutional clients who would like us to manage their Canadian Equity or Balanced portfolios. We will review this decision at the end of the year.