Jarislowsky Fraser is one of Canada's leading independent investment firms, offering investment services worldwide. Our core strengths —a philosophy of fundamental investing and rigorous in-house research— are widely recognized and valued.
Jarislowsky, Fraser Limited is a registered portfolio management firm. Founded in 1955 as a research boutique, Jarislowsky Fraser today manages the portfolios of pension funds, foundations and endowments, corporations and individuals in Canada, the United States and internationally — representing more than US$28 billion in assets under management.
Jarislowsky Fraser is entirely independent, with no affiliations other than Jarislowsky, Fraser USA, Inc, a wholly-owned subsidiary. The firm has been registered as an Investment Advisor with the Securities and Exchange Commission since 1991.
Headquartered in Montreal, we have offices in Toronto, Calgary, Vancouver and New York.
Our mission is to grow our clients’ capital in a low risk manner. We achieve this by adding value through rigorous, in-depth, fundamental research, a team-based approach and a disciplined investment process. Our investment philosophy and process are built on a foundation of time-tested conservative principles and over 60 years of fundamental research. Jarislowsky Fraser's team of more than 45 investment professionals applies proven global investment management expertise to meet the needs of individual and institutional investors worldwide.
Jarislowsky Fraser’s history and culture is rooted in investment stewardship, which we regard as our responsibility to act in the best interest of our clients. This stewardship is expressed through an adherence to high quality investing, fundamental research, a long-term investment horizon, and the promotion of good corporate governance and sustainable value creation.
Throughout its history, Jarislowsky Fraser has been a leader in advancing corporate governance by holding management and boards to a higher standard. We advocate on behalf of minority shareholders, seeking to improve corporate governance for the benefit of all stakeholders.
Governance is more than compliance with legal formalities and shareholder rights. It is about insisting on high-quality business practices, management integrity and ethics. Most importantly, it is about shifting from short-term profit-taking to long-term business value creation.
We believe that a company’s Environmental, Social and Governance (ESG) policies and track record are likely to be a helpful lens through which to gauge quality. For this reason, we integrate the analysis of material ESG risks and opportunities into our investment process, and have adopted a Sustainable Investment Policy that formalizes our commitment.
We are long term investors and seek to invest in high quality businesses that will consistently create value over time. These companies must demonstrate sustainable competitive advantages, industry or global leadership, and strong financials.
Please visit our Sustainable Investing section of the website to learn more.
Stephen A. Jarislowsky looks back over the last 60 years of Jarislowsky Fraser's history as one of Canada’s leading independent investment firms.
Jarislowsky Fraser was founded on June 6, 1955, in Montreal, Canada, as a securities research firm. The firm started out conducting field research on Canadian companies, developing the “Investment Value Tables” as a statistical tool to discover and follow industries and corporations. We conducted over a hundred annual visits, interviewing management teams and ascertaining the quality and growth prospects of their companies. Our findings were sold to major investment management firms in the United States and United Kingdom. In time, we added investment counsel services for institutional and private clients. Jarislowsky Fraser quickly became a trusted name in the investment industry and is today one of the largest independent investment counsel firms in Canada.
Since the beginning, our style has remained constant: a conservative approach, based on excellence in research. Jarislowsky Fraser’s philosophy aims at achieving a high real return (after deducting fees, inflation and income tax) for our clients. We target a longer time horizon, keep trading to a minimum, and focus on quality companies with good growth of earnings and dividends.
Our firm has a strong fiduciary culture combined with a commitment to provide a high level of service that includes offering the lowest fee possible. This fiduciary aspect has included a degree of activism whenever we felt that companies displayed a low level of corporate governance, insisting that a fair price be paid to all shareholders in takeovers.
I’m proud to say that the company has at no time been pursued in court by a client nor, to our knowledge, has had any complaint brought against it to a securities commission.
This activism in fiduciary responsibility, in time, led the firm to co-found the Canadian Coalition for Good Governance (CCGG) and the Institute for Governance of Private and Public Organizations (IGOPP), as well to become a major participant in the Foundation for the Advancement of Shareholder Rights (FAIR). These organizations are active to improve shareholder protection and advise legislators on needed law measures, etc.
Looking forward, I have every confidence that Jarislowsky Fraser will continue to grow as we stay true to the philosophy that has guided us well through almost 60 years of market highs and lows – sound, disciplined investing based on excellence in research and a fiduciary obligation to clients who have entrusted their assets with us.
We thank our clients for their continued trust and confidence.
Stephen A. Jarislowsky
Founder, Director and Chairman Emeritus
Strong corporate governance, both within our own firm and the companies in which we invest, is vital to our success. Our Executive Team ensures that we operate with integrity and accountability.
G. PIERRE LAPOINTE
ERIN O'BRIEN, CFA MARGOT L. RITCHIE, CFA CHRIS KRESIC, CFA