Kingwest & Company

"Richard Fogler is a unique and compelling figure in the Canadian investment industry and Kingwest's approach reflects this. Their unique value approach consistently creates portfolios much different from what is typically available in the Canadian market. It's an approach that has helped Kingwest generate better returns with less risk versus the category time and time again."

- Daniel Solomon, Chief Investment Officer, NEI Investments

Company Profile

Kingwest & Company is a seasoned Canadian investment manager. The firm began as a division of the Bank of Nova Scotia in the 1970's and was purchased by its partners in 1982. It remains 100% independent and employee-owned.

Investment Approach

The value approach underlies all investments at Kingwest & Company. Companies whose shares are selling substantially below what Kingwest perceives to be the economic value of their business are bought, and these businesses are held until their full value is reflected in the share price. The framework used to assess value in all of the investments is called Economic Value Added (EVA).

EVA is the calculation of what profits remain after the costs of a company's capital - both debt and equity - are deducted from operating profit. The idea is simple but rigorous: true profit should account for the cost of capital. There is a hidden opportunity cost that goes to investors to compensate them for forfeiting the use of their own cash. EVA captures this hidden cost of capital that conventional measures ignore.

Funds Managed

Name	Lead Managers	Inception Date	Category	Morningstar Profile
NEI Canadian Equity Fund	Richard Fogler	1991-12-20	Canadian Focused Equity	A F
NEI Growth and Income Fund	Richard Fogler	1995-05-01	Global Equity Balanced	A F T

Lead Managers

Richard Fogler Managing Director, Chief Investment Officer and Portfolio Manager A founding partner in Kingwest, Richard is responsible for developing, implementing and guiding the overall investment strategy for the firm's investment portfolios. An industry expert with over three decades of experience, Richard is regularly featured on national business and investment news programs, has authored articles for major industry publications and is frequently cited in leading trade journals. Richard also serves as a guest lecturer in the Value Investing Program at the Rotman School of Management. Richard holds a BSc in Economics from the Wharton School, University of Pennsylvania, and pursued post-graduate studies in Economics and Finance at the College de France and the Sorbonne, Université de Paris, in France. He is also a member of the Toronto Society of Financial Analysts.

Tim Regan Managing Director and Portfolio Manager Tim oversees all fixed income investment strategies, chairs the Portfolio Management Committee and guides the overall risk management for the firm. He is also responsible for leading Kingwest's client service, marketing and sales initiatives for private clients, broker/dealer partners and institutional clients. Prior to joining Kingwest in 2003, Tim was Chief Investment Officer and Senior Vice President of Northwest Mutual Funds, a company he co-founded in 1997. Tim received a BA in Economics from the University of Western Ontario and an MBA from the University of Toronto. He has the Chartered Financial Analyst (CFA) designation, and is a member of the Toronto Society of Financial Analysts and the CFA Institute.

Manager Resources