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June 10, 2016

2015 was a rough year for holders of preferred shares with the TSX Preferred Share Index tumbling 19 per cent, but the meltdown should now be viewed as a buying opportunity, according to Hardev Bains, President and Portfolio Manager at Lionridge Capital Management in Winnipeg. He usually avoids this asset class, but says some of the names have been pushed so low they offer high potential returns. Bains has done some selective buying of Great West Life, Manulife, Sun Life and TransCanada.

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Source: BNN Bloomberg