WEALTHCo. ASSET MANAGEMENT
FIRST QUARTER 2019
We provide access to institutional grade investments commonly traditionally unattainable to self-directed investors.
We made real progress in the first quarter of 2019. As WealthCo continues to grow, we were able to further diversify our investments into new alternative asset classes, across many sectors, and in new geographies. We are pleased to announce our first private equity investment in the technology sector, our first mortgage investment in Nevada, and the addition of global equities to our funds. These weren’t all the changes we made, but they are good examples of how we strive to diversify and capitalize on the scale of our funds. While these three changes combine to less than 5% of our client’s portfolios, they are significant because they improve our flexibility to continue adapting to the ever-changing investment landscape. Adding institutional-grade private investments to our clients’ portfolios is a core foundation of what we do and is one of many ways that we believe WealthCo can add value for individual investors.
In February we made our first investment with iNovia Capital. iNovia is a technology-focused private equity manager investing in growth stage companies in the Information Communications Technology sector. Founded in Montreal in 2007, iNovia has expanded to six offices globally from San Francisco to London and established itself as a Canadian leader in the private tech-space. The General Partners of the funds include the ex-CFO of Google and the ex-CFO of Blackberry/RIM. Some of iNovia’s more successful private investments in previous funds were sold to blue-chip public companies like Shopify, AirBnB, Yahoo, Google and Disney (just to name a few). And one notable recent success for iNovia was the IPO (Initial Public Offering) of LightSpeed POS (LSPD-TSX). iNovia first invested in the point of sale payment processor in 2013, and today the company is valued in excess of a billion dollars.
KEYSTONE NATIONAL GROUP
We also made our first mortgage investment with Keystone National Group. Keystone is an SEC- Registered Investment Advisor with head offices in Utah and California. The company has a conservative underwriting philosophy, focusing on short-term loans backed by income producing real estate and has more than 50 active mortgages in 20+ US states. With the addition of Nevada, WealthCo now has direct real estate investments in ten US states and three Canadian provinces. Our strategic relationship with Keystone gives us expanded reach for institutional-grade real estate investments in new jurisdictions south of the border.
On the public-markets side, we have added a small position of international equities to our asset mix (~2.9% of our model portfolio), to capitalize on the diversification benefits of adding global stocks alongside our existing Canadian and US holdings. The global portion of our holdings are focused on mid-cap growth companies in developed countries including the UK, Europe, Australia and Japan. We continue to favour active management in the mid-cap sector as we believe that is the sweet spot for generating alpha in public equities.
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