The value manager sees better opportunities in a narrower range of companies
Gregory Payne | Senior vice-president, portfolio manager, co-lead of Mackenzie Greenchip team Mackenzie Investments investing has surged in popularity in recent years. But Gregory Payne, a value manager who has focused on environmental thematic investing since 2008, sees better opportunities in a narrower range of companies that make stuff for a low-carbon economy or are part of the energy transition to renewables. He and John Cook co-manage the nearly $2.
Solar is a global market, with the U.S. representing 15%. China is a big part of the success story in building an ecosystem and supply chain around solar. JinkoSolar and Canadian Solar trade at a fraction of their revenue, versus First Solar trading at more than five times. The China-focused firms are heavily discounted by North American investors, who prefer U.S. companies and may have anti-Chinese sentiment. On this bias, there’s a value opportunity.
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