The Fundamentals Podcast

In this episode of The Fundamentals, Valerie Payeur, Senior Institutional Portfolio Manager, sits down with Christopher Knapp, Managing Director and Portfolio Manager, Emerging Markets Equities, and Jeremy Schaal, Managing Director and Portfolio Manager, U.S. and Global Equities, to discuss what lies beneath today’s increasingly concentrated market benchmarks. They explore how concentration takes different forms across Canada, the U.S., and emerging markets, how the global AI surge is creating correlations across sectors and regions, and why apparent diversification may not always translate into true diversification of risk. The discussion also examines the opportunities that can emerge beyond benchmark exposures and the role of fundamental research, valuation discipline, and active management in building more resilient portfolios.   

In this episode of The Fundamentals, Dexton Blackstock, Head of Institutional Business Development for Central and Western Canada, speaks with Heather Sharpe, Lead ESG Research, and Brendon Grant, Manager, Indigenous Wealth, about how ESG and Indigenous considerations inform investment decisions at Jarislowsky Fraser Institutional. They explore why Indigenous rights are material in the Canadian context and how research, engagement and proxy voting can help investors manage risk, identify opportunities, and support long-term value creation.

In this episode of The Fundamentals Podcast, Jeff Horbal sits down with Adam Neal, Head of Global Institutional Business at Jarislowsky Fraser, for a wide-ranging conversation about the firm’s evolution within Scotia Global Asset Management. Adam shares his perspective on preserving Jarislowsky Fraser’s investment independence and client-first culture while building greater scale, expanding fixed income capabilities, and pursuing growth across Canada and international markets. The discussion also explores the enduring importance of fundamental research, ESG integration, and the role Jarislowsky Fraser is positioned to play as the engine of Scotia’s broader global institutional business.

In this episode of The Fundamentals Podcast, Jordan Rasmussen, Senior Institutional Portfolio Manager at Jarislowsky Fraser, is joined by Jeremy Schaal, Managing Director and Portfolio Manager, U.S. Equities, and Christopher Knapp, Managing Director and Portfolio Manager, Emerging Markets Equities, to explore what comes after AI’s initial surge. They examine where economic value is concentrating across chips, platforms, and applications, and why energy, infrastructure, and semiconductor supply remain critical bottlenecks. They also discuss the intensifying U.S.–China dynamic and the race for capital and talent. Listen in for a timely and thought-provoking conversation on where AI goes from here and what it could mean for investors.

In this episode of The Fundamentals Podcast, Isaac Dell, Associate Institutional Portfolio Manager at Jarislowsky Fraser, is joined by Byron Monaghan, Director of Private Assets at Scotia Global Asset Management, to discuss the growing role of private assets in portfolio construction. The conversation explores how investors should think about expected returns, liquidity trade-offs, and portfolio sizing, as well as the evolution from traditional closed-end drawdown funds toward evergreen fund structures. Isaac and Byron also examine why private markets remain relevant in 2026, highlighting current dynamics across private equity, private credit, real estate, and infrastructure, and discuss how Scotia Global Asset Management’s evergreen private asset solutions are designed to provide investors access to private markets.

In this episode of The Fundamentals Podcast, Trevor Boose, CFA,  Senior Institutional Portfolio Manager, sits down with Marc-André Gaudreau, CFA, Vice President, Senior Portfolio Manager, and Head of Fixed Income at Jarislowsky Fraser to discuss the shifting landscape of bond and credit markets. Marc-André reflects on the adjustment from years of near-zero rates, the impact of competing central bank priorities, and how policy shifts, fiscal pressures, and market volatility are having an effect across the curve. He highlights why flexible, benchmark-agnostic strategies are increasingly valuable for managing volatility and capturing opportunities. His key message: fixed income is more compelling today than it has been in years for investors able to stay nimble and selective.

In this episode of The Fundamentals Podcast, Jordan Rasmussen, Senior Institutional Portfolio Manager, speaks with Jeremy Schaal, Managing Director and Portfolio Manager of U.S. Equities at Jarislowsky Fraser, about the U.S. equity markets in 2025. They discuss how concentrated gains in mega-cap tech and AI-driven optimism are masking underlying risks tied to high valuations, policy shifts, and infrastructure strains. The conversation also examines overlooked opportunities in consumer staples and utilities, as well as the importance of diversification and defensive positioning in uncertain times.

In this special episode of The Fundamentals Podcast, Quyn Pham sits down with Stephen Jarislowsky to mark his upcoming 100th birthday. He shares candid reflections on his journey from wartime counterintelligence to building one of Canada’s leading investment firms, emphasizing ethics, discipline, and purpose over legacy. With characteristic humility, Mr. Jarislowsky discusses the principles that shaped his career and the importance of living a moral life.

In this inaugural episode of The Fundamentals Podcast, Jordan Rasmussen, Senior Institutional Portfolio Manager, speaks with Charles Nadim, Head of Research and Portfolio Manager for Canadian Equities, about why Canada may be one of the most compelling — and underappreciated — equity markets in the world today. The conversation explores the structural strengths underpinning Canada's long-term performance, including world-class talent inflows and a resilient economy. Charles also shares his thoughts on the sectors primed for sustainable growth. Whether you are an institutional investor or simply interested in the Canadian market, this episode offers a fresh perspective on investing in Canada.