Pembroke continues to focus on providing innovative investment solutions to our clients. In our third quarter 2020 On the Road article we explore ways that Pembroke and other investment management industry participants have embraced technology during the pandemic and discuss some of the changes that we think are here to stay. In our Investment Commentary & Outlook, we discuss some of the attributes of the current rally, the separation of growth stocks from value stocks, equity valuations, and market volatility.

In our business update, we describe the new tools we are offering clients to provide insight into their financial behaviours, biases, and blind spots and how these can impact the financial decisions that they make. We continue to invest in our team and introduce new colleagues who bring expertise in family office services and financial planning. We continue our virtual lunch series with an update on upcoming topics and an archive of past discussions.

We continue to invest in our communications technology and hope that you will find this reformatted version of our Perspectives newsletter to be both interesting and informative. We welcome your comments about Perspectives and encourage you to share your feedback with us.




TickerCompanyPrice Change (CAD)Revenue Growth, Current Fiscal YearEPS or EBITDA Growth, Current Fiscal YearRevenue growth, next fiscal yearEPS or EBITDA growth, next fiscal year
KXS CNKinaxis Inc1%16%-7%17%17%
RPI-U CNRichards Packaging Income Fund37%37%51%-3%-12%
ENGH CNEnghouse Systems Ltd1%34%50%12%8%
CIGI CNColliers International Group I14%-13%-18%26%38%
DOO CNBRP Inc22%-6%1%12%17%


TickerCompanyPrice Change (CAD)Revenue Growth, Current Fiscal YearEPS or EBITDA Growth, Current Fiscal YearRevenue growth, next fiscal yearEPS or EBITDA growth, next fiscal year
IBPInstalled Building Products In48%
CRLCharles River Laboratories Int30%9%4%10%14%
SITESiteOne Landscape Supply Inc7%8%9%6%10%
PAYCPaycom Software Inc1%12%-2%19%24%
TREXTrex Co Inc10%11%10%11%16%

Virtual Lunch Series

Managing Portfolios During Uncertain Times

As we continue to share our insights while maintaining appropriate social distance, we invite you to join us for a virtual lunches/brunches:

Wednesday, October 28th at 11:00AM (Eastern Daylight Time), focus on On-Line Learning with Jeff Tory

An invitation with details was sent out by email, if you did not receive a copy and wish to join our virtual lunch, please contact your Pembroke Representative for details.

If you missed any of our Pembroke Virtual Lunch Series, you can replay our virtual lunches here.

Business Update


Pembroke is helping clients better understand themselves.

During 2020, we have been helping clients better understand their financial behaviours, biases and blind spots and how these can impact the financial decisions that they make. If you are interested in taking a short and innovative on-line assessment (called My3B), please contact your Pembroke representative.

Pembroke has continued to host virtual lunches and brunches to keep you informed in real-time.
Since the last issue of Perspectives, Andrew Garschagen and Matthew Beckerleg discussed Pembroke’s Perspective on Investing in Growth and Disruption, David Whittall discussed Disruption, ESG and the Power of Investing in Innovation, Richard Usher-Jones of Canso discussed Fixed Income markets and why bonds are not boring, Doug Pospisil discussed our differentiated approach to dividends, and market strategist Jim Furey discussed the US markets in advance of the Presidential election. Each of these presentations was recorded and can be viewed on our website.

Pembroke is Growing!

During the pandemic, Pembroke has continued to pursue its important initiatives and we have made three additions to the team.

Stephanie Pantaleo, CPA, MTax, joined Pembroke as Director of Family Office Services. Stephanie is based in our Toronto Office. In addition to her background in accounting and taxation, Stephanie is Course Director at the School of Administrative Studies at York University.







Salomon Gamache, GDip Tax, F. Pl., CIM, FCSI, has joined Pembroke as Director of Financial Planning, and Account Manager. Based in Pembroke’s Montreal Office, Salomon has over twelve years of experience as a financial planner in Quebec and sixteen years of experience in the financial industry. Salomon is bilingual and is working to complete a master’s in law – Taxation (LL. M.) at HEC – Université de Montréal during 2021.







Kathy Boubaris has joined Pembroke’s Montreal office as an Executive Assistant. Kathy is trilingual in English, French, and Greek.


We welcome Stephanie, Salomon, and Kathy to Pembroke. As we expand the Pembroke team, we aim to expand the services that we offer to help you achieve your financial goals.



This report is for the purpose of providing some insight into Pembroke and the Pembroke funds. Past performance is not indicative of future returns. Any securities listed herein, are for informational purposes only and are not intended and should not be construed as investment advice nor is it a recommendation to buy or sell any particular security. Factual information has been taken from sources we believe to be reliable, but its accuracy, completeness or interpretation cannot be guaranteed. Pembroke seeks to ensure that the content of this document is correct and up to date but does not guarantee that the content is accurate and complete and does not assume any responsibility for this. Pembroke is not responsible for decisions or actions taken or made on the basis of information contained in this document.