Video description:

Bo Knudsen, Portfolio Manager, with C WorldWide Asset Management, discusses the benefits of a concentrated portfolio with Tyler Wylie from Canada Life. 

Video content:

Description: Meet Bo Knudsen Portfolio Manager, with C WorldWide Asset Management appears in the top right corner of the screen. Upbeat music plays through the whole video. City scenes of Copenhagen show onscreen. Bo stands on a balcony overlooking a river while holding an umbrella. 

Description: A text banner appears stating Bo Knudsen Portfolio Manager, C WorldWide Asset Management. 

Bo Knudson: Hi, I'm Bo Knudsen. Welcome to my city, Copenhagen. 

Description: A woman sits at a desk talking on the phone. The C WordWide Asset Management sign appears. Bo walks through the C Worldwide office. 

Bo Knudson: This is C WorldWide. We're very pleased to be part of your fund shelf. 

Description: Bo looks at computer screen showing charts and graphs. Bo sits in an office. 

Bo Knudson: I really look forward to telling you more about who we are. 

Description: CN Tower appears onscreen. Bo and Tyler walk down a busy city street in Toronto. 

Tyler Wiley: Hey, Bo. Welcome to Toronto. 

Bo Knudson: Thanks, Tyler. Great to be here in a sunny day. 

Description: Bo and Tyler climb stairs into an office building. Then Bo and Tyler sit across from each other in an office for the remainder of the interview. The camera moves from one to the other. 

Tyler Wiley: So, Bo, have you been to Toronto before? What do you think of the city? 

Bo Knudson: I've been here several times over the last 15 years, and I must say, it's become a big city. Becoming a big, bold city, I really like it here. 

Tyler Wiley: Nice. Is there anything you like to do when you visit a new city? 

Bo Knudson: I like to put on my jogging shoes and run around the town to find the green space. And just hang out there and read a bit. 

Tyler Wiley: Nice. 

Bo Knudson: I like that. 

Tyler Wiley: So, let's talk a little bit about institutional investing. Why is it important to be an institutional investor? 

Bo Knudson: I've been in this business, institutional fund management, for 30 years. The good thing is you get challenged at the highest level. And I think if you get challenged at the highest level, you get better. I think competing with the best, being challenged, that's what you get out of being in the institutional business. 

Tyler Wiley: Okay. So, investment process, walk us through your investment process, and maybe tie in a recent transaction that'll help highlight how you run the fund. 

Bo Knudson: Absolutely. Our view is you don't need more than 30 stocks. We identify companies that have secular tailwinds, and then we typically stay with these names for a very long period of time. One stock that we have added recently is a Japanese company called Hoya. They benefit from the aging world population. 

Bo Knudson: Basically, more people in the world need quality glasses, and they are one of the leading manufacturers of lens to glasses. On top of that, they are the world expert in producing flat glass. So, basically, a piece of glass the size of a book costs you the same as a small car. You need that kind of pureness and flatness and the specifications for semiconductor manufacturing. And here, Hoya is very strong as well. 

Tyler Wiley: Great. So, 30 holdings in a global portfolio is quite concentrated. Walk us through some of the benefits of being so concentrated. 

Bo Knudson: Then you really need to believe what you invest in. We think that having 30 gives you proper diversification, but you get the benefit if a company really does well. Our expertise is to find the best stocks. We don't want to dilute our own capabilities by just adding names to the portfolio. We don't want and we've never had more than 30. 

Tyler Wiley: Okay. So, we went through a manager selection process in which C Worldwide was successful on a global mandate. How is that selection process from your perspective?

Bo Knudson:   Speaking on behalf of myself and the team, this is one of the most detailed processes that I've been through over the years. So, very qualified people, very detailed process, very thorough process definitely. 

Tyler Wiley: Great. So, where does the name C WorldWide come from? 

Bo Knudson: It comes from our core, that we are global explorers. We try to find the best stocks in the world, and, therefore, we have to have a global perspective, so to see worldwide. We think that explains the essence of what we are all about. 

Tyler Wiley: So, if C WorldWide was a car, what car would you be? 

Bo Knudson: Hmm. I think we would be a fast Volvo. 

Tyler Wiley: Alright. 

Bo Knudson: With stability, but also with growth. And there are fast Volvos out there, I can tell you. 

Tyler Wiley: Great. Well, thanks very much for taking the time to meet with me today and discuss your fund and your firm. 

Description: Bo and Tyler shake hands. 

Tyler Wylie: And thanks very much to C WorldWide for being part of the Pathways family. 

Bo Knudson: Thank you very much for inviting me. 

Tyler Wiley: Thank you. 

Bo Knudson: It's a pleasure. 

Description: Canada Life logo appears onscreen.