Burgundy Asset Management Ltd.

Burgundy Asset Management is an investment management company owned by its employees. The company is based out of Toronto and has another office located in Montreal. Burgundy Asset Management conducts its research internally, evaluating its investments on a company by company basis. The company focuses on a long term perspective and utilizes a contrarian approach to find overlooked companies and avoid investment trends, utilizing a fundamental analysis with a bottom up investment approach. Burgundy Asset Management focuses on defining a “company’s intrinsic value and if and when there is an opportunity to invest at a significant discount to this value” and conducts over 850 one on one company management meetings annually. The company currently invests most heavily in the finance sector, which alone makes up approximately a quarter of its total asset allocations, and also invests in the industrials, consumer staples, consumer discretionary, information technology, energy, health care, and transports sectors, among others to a lesser degree, in order of decreasing allocation. Burgundy Asset Management currently has approximately $20 billion in total assets under management spread across over 2000 accounts, all of which are discretionary. Both its total number of accounts and total assets under management have been increasing in recent years, with its accounts held growing from 1,300 five years ago to its amount today and its total assets under management growing significantly from $5.7 billion back in 2010 to well over three times that amount today. Burgundy Asset Management caters to a variety of clients, including individuals and high net worth individuals, which each make up over a third of its client base, pension and profit sharing plans, charities, corporations, investment advisors, and insurance companies, in order of decreasing clientele. The company currently offers a variety of investment strategies including its Asian Equity, Focus Canadian Equity, European Equity, Foundation Trust, Bond, and Global Focused Opportunities funds.