IGM Financial Inc. (IGM.TO)

Benefiting from money rotating back into equities. Will benefit going forward.

(Top Pick Apr 29/13, Up 11.49%) It didn’t move in line with CI so he thought it would catch up and he got out at the highs.

(A Top Pick Jan 8/13. Up 15.66%.) There has been a dearth of interest in the equity side over the past 5-6 years. Most of the money being invested has been in bond funds and, in the last couple of years, in balanced funds. This company makes a lot of their money on the long-term product, i.e. equities. Still likes them. 4.5% yield.

(up 27.02% since June 5, 2012) He doesn't own anymore as the performance of their mutual funds especially the Mackenzie funds was bad. They were bleeding assets. It is a yield play of 4.5%. He did well while he owned it but didn't like the performance of underlying stock.

Seasonally the financials tend to be weak between now and late summer. Watch the lid around $47.50 and be prepared to take profits if it hits and does not to show signs of wanting to break it.

Likes the dividend yield and the cash flow being generated. Cheaper than number one in Canada (AGF) – valuation discrepancy. Positive trends in cash flow and growth. Expects continued good performance. 2.6 times book value.

(Top Pick Jan 07/13, Up 9.54%)

Has gone up in the last 3 weeks, which she feels is because of fund flows. As the market improves, the stock will reflect that, which accounts for a lot of the stock price movement. High-quality company. She has always played this through Power Financial (PWF-T) or Power Corp. (POW-T).

Big theme over the past 5 years has been outflows from equities to fixed income. Starting to see the thin edge of the wedge in reversal of attitudes towards equities. We are going to see a credit cycle default in front of us, where credit is going to be easy and will bleed into the economy and risk-taking will come back.

Has a very good position in the Canadian mutual fund industry with a proprietary sales force. Mutual funds, as an industry, has been stagnating. There is not as much room for consolidation. If your view on the market is positive, this could have some upside here but he doesn’t see a huge upside.

(Market Call Minute) Asset management is a tough space right now. Isn't a fan of any of them.

Controlled by power financial, which he owns. A great stock to own but a lousy one to buy their funds, which makes it a great stock to own in the long run.

5.7%. Market is saying it is safe yield for now. Chart is ugly and it is not a great business.

(A Top Pick Aug 24/11. Down 9.03%.) This is under review by him as he is becoming increasingly convinced that the whole mutual fund industry is going through a sea change. People are getting clued into fees being charged and more aware of ETF's.