A Word From Nicolas Chevalier, New Managing Partner
The investing environment proved challenging in the past year with high inflation, rising interest rates, slowing economic growth, wars in the Middle East and Ukraine as well as growing geopolitical tensions, particularly with China.
Despite this worrying backdrop, the Pembroke team remained focused on its mission of improving clients’ financial health. Indeed, 2023 turned out to be another banner year for our clients with all our equity strategies posting double-digit returns. On a five-year basis, compound annual returns are also comfortably in the 10% to 20% range.
Pembroke is further helping clients by providing sound guidance and thoughtful advice. From markets and investment analysis to taxes and financial planning, Pembroke’s Virtual Event Series is reaching a growing audience. In 2023, we also prepared an increasing number of financial plans and Intelligo investor personality assessments for clients.
Pembroke employees are at the heart of everything we do. They are our biggest asset and the foundation of our success. They are the frontline, serving our clients, investing, managing risks, building the technology, and constantly improving our operations. We can only keep our commitment to our clients if we recruit, train and retain top talent..
The Pembroke team comes to work every day knowing they can have a real and positive impact on the lives of our clients, and understand the privilege and responsibility that it entails. From college students and retirees to large pension funds and foundations, our actions have a very human impact.
On January 1st, Ian Aitken transitioned from being the Managing Partner to become the Vice Chair of Pembroke. I would like to express my deep appreciation for everything Ian has done. He has made an enormous contribution to Pembroke over the last 23 years at the helm of the firm. As a leader, he has seen us through a challenging environment and a period of tremendous change, helping the firm evolve from a niche manager to a multi-product wealth manager. I am delighted that Ian will continue to advise and support Pembroke and me on a full-time basis as a partner, Director and Vice-Chairman.
Lastly, I wish to express my sincere gratitude to the Pembroke partners for entrusting me with the responsibility to lead and serve the organization into the future. Although Pembroke has participated in the financial well-being of its clients for 55 years, I believe that in many respects we are just getting started.
In volatile markets, we encourage clients to think about one of the basic rules that guide us at Pembroke: a regular contribution schedule is better than trying to guess the right time to invest.
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In order to ensure that client instructions are properly received and processed, Pembroke is introducing new cut-off times before the close of the markets on valuation days. These new cut-off times will come into effect in April of this year.
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.