A Word from the Pembroke Team
Recently, markets have been faring better, but uncertainty remains very present, as a possible recession is on everyone’s mind. This issue’s investment commentary, entitled The Bad, the Good and the Outlook, looks back on a difficult year for the markets, reflects on the positive aspects of the current situation, and looks forward to the future of the companies in our portfolios.
The articles on each of Pembroke’s strategies reflect this commentary and that, after a hard year for many growth investors, most of the companies in our portfolios are well positioned to perform in the coming years.
On different note, the feature article, ChatGPT and the Power of Artificial Intelligence, discusses a new tool by OpenAi’s that has taken the Internet by storm. As growth investors with a long term focus, we seek to understand how disruptive technology, such as artificial intelligence creates both opportunities and threats.
You will also find in this issue of Perspectives information to help you plan your RRSP and TSFA contributions, as well as details on Tax-Free First Home Savings Accounts (FHSA) that will be available later this year.
Sincerely,
The Pembroke Team
ChatGPT and the power of artificial Intelligence
Science fiction writers such as Isaac Asimov have long predicted that artificial intelligence (AI) will have a wide-ranging impact on society. The recent launch of a free on-line service called ChatGPT is giving many people their first opportunity to interact directly with artificial intelligence in a conversational manner.
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Investment Team Update
We wish to inform you that David Whittall has left Pembroke to focus his career on the environment, climate, and sustainability. David’s responsibilities have been transferred to Joshua Ghoddoussi, our Risk Manager, Doug Pospisil, our Research Director, and other members of the team.
David has made a significant contribution to Pembroke since he joined in May of 2016. As Chief Risk Officer, he coordinated the implementation of the Risk Management framework that is now in place.
Under David’s leadership of the Corporate Governance and Responsible Investing Committee, Pembroke also became a United Nations Principles for Responsible Investment (PRI) signatory in October 2019, and publicly supported the Task Force on Climate-Related Financial Disclosures (TCFD) in April 2021.
In addition, as co-lead of the Pembroke Global Balanced Fund and the Pembroke Global Equity Fund, he helped to create, launch and manage these strategies.
David has left on good terms, and we wish him all the best as he takes on his next challenge.
DISCLAIMER
This report is for the purpose of providing 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.
