ABOUT THE CPMT

The Calgary Portfolio Management Trust (CPMT) was established in 1995 as a joint venture between the University of Calgary and the Chartered Financial Analyst (CFA) Society Calgary. It is a specialized finance program that provides students an educational experience beyond a traditional classroom. Selected students manage a real-money portfolio of Canadian equities, currently valued at about $500,000. Guided by industry leaders, these students develop the research, analytical, and rhetorical skills necessary to excel in the financial industry. Participation in the program counts as one finance half-course credit.

 
INVESTMENT STRATEGY

The CPMT investment philosophy is centered on intrinsic value combined with systematic investment selection. The goal is to take advantage of market opportunities over a long term period (5-10 years). A systematic approach ensures discipline on purchase and sale decisions, maintains a focus on owning high quality businesses, and reduces the probability of errors. The Portfolio Managers will seek investments that offer the following characteristics: (1) Quality Management, (2) Competitive Advantages, (3) Strong Balance Sheet, and (4) Growing Free Cash Flow.

Our hold period for investments is indefinite. The price where we buy these securities will be based on whether valuation is reasonable compared to the intrinsic value of the business. We explicitly do not buy "cheap companies" using valuation as a primary justification. 

The price where we sell these securities will be determined relative to intrinsic value. The impact of portfolio enhancement will also be considered (does the purchase or sale of an investment impact portfolio diversification, or portfolio characteristics such as growth rate, ROE, volatility).

For more information regarding our investment philosophy, please refer to our mandate.

 
QUARTERLY PRESENTATIONS

Current CPMT members present their latest research and portfolio performance four times per year, about 5-6 weeks after quarter end. Professionals and other students are very welcome to join these informative and social events. Presentations are hosted at the downtown campus or at a dinner venue.

SPEAKER SERIES

Leading financial professionals discuss their experiences and careers as well as best practices and current trends in the industry. The talks on campus are open to students in all years of their program and in all concentrations. Industry speakers also sometimes host CPMT students at their offices.

 
CONTACT

Thomas Holloway, CFA

Faculty Supervisor for the CPMT Program

Email: thomas.holloway@ucalgary.ca

 

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Donate to the trust here. Each donation gives twice, by sustaining the learning opportunity and through the portfolio income that supports finance at Haskayne. Gifts are tax deductible.