iAtoday

TD Investment Management (TD) announced the departure of Louis-Philippe Roy, Vice‑President and Senior Quantitative Equities Management Manager. Mr. Roy made the decision to take on new challenges with another organization. Mr. Roy was a portfolio manager on TD’s quantitative team for the last five years and was recently promoted to the position of senior portfolio manager following the promotion of Julien Palardy to the position of managing director.

Mr. Roy’s sudden departure a few months after his promotion is surprising and reduces the size of the quantitative team by two experienced managers. While the continuity guaranteed by Ms. Davidson and Mr. Baghramyan, as well as the appointment of Kevin Holmes following Louis‑Philippe Roy, are positive, our oversight team continues to monitor TD’s quantitative strategies given the weak index performance and staff turnover. That said, the team responsible for low-volatility securities relies on a collaborative approach and the involvement of many individuals. The team’s strategy is built on a systematic and quantitative process that requires far fewer human interventions than a fundamental strategy. The company also announced that it intended to grow the team in 2021-2022.

For complete information and the affected funds, please consult the Investment Update of October 29, 2021 – TD.