With a value equity approach, our primary objective is to generate a total pre-tax return, including capital growth and dividends, greater than the rate of inflation over a 3- to 5-year period.

We focus on how our total return compares with increases in inflation, as well as indexes such as the Consumer Price Index* and the GDP Deflator** over time.

*CPI Consumer Price Index – is a seasonally-adjusted measure that examines the weighted average of prices of a basket of consumer goods and services, changes in the CPI are used to assess price changes associated with the cost of living and is one of the most frequently used statistic for identifying periods of inflation or deflation.

**GDP Deflator – in economics, is a measure of the level of prices of all new, domestically produced, final goods and services in an economy in a year. GDP stands for gross domestic product, the total monetary value of all final goods and services produced within the territory of a country over a particular period of time (quarterly or annually).