We've been managing portfolios responsibly since 1987.
Who We Are
Founded in 1987, Lester Asset Management is a Montreal-based discretionary portfolio management firm duly registered with Canadian regulatory authorities. The firm specializes in equities and fixed income securities for a clientele of individual investors (high net worth, family offices, trusts and estates) and institutional investors (foundations, pension funds).
Our size and investment strategies give us the agility to deliver exceptional returns and navigate all market conditions.
Owned and managed by seasoned financial professionals, our firm is completely independent. This boutique approach does not prevent us from having the necessary partnerships and tools to offer institutional-calibre responsible portfolio management.
Our ApproachOur Team
Over 50 years of capital markets experience and a complementary
set of skills in research, portfolio management and client services.
J. Anthony Boeckh
Chairman of the Board
Stephen Takacsy
President and Chief Executive Officer, Chief Investment Officer and Senior Portfolio Manager, Canadian Equity
Lorie Haché
Office Manager and Senior Manager, Client Services and Portfolio Administration
Marc Dansereau
Senior Manager Operations, Technology & Chief Compliance Officer
Olivier Tardif-Loiselle
Lead Portfolio Manager, Fixed Income
Kate Passingham
Portfolio Administrator and Associate Relationship Management
Elisa Stawnyczy
Portfolio Administrator & Compliance Associate
Matthew Kaszel
Portfolio Manager, Canadian and International Equity
Our Mission
We are committed to preserving and growing our clients’ financial wealth through responsible portfolio management, while providing a high level and personalized service to meet their evolving needs.
Our History
Values Rooted in the Highest Ethical Standards of our Industry
Integrity
As portfolio managers, we have a fiduciary duty to put the interests of our clients first. All of our investment decisions are consistent with our fiduciary role, our code of ethics and our beliefs. We foster accountability and invest in our own strategies, thereby aligning our interests with those of our clients.
Transparency
We communicate openly, consistently and honestly with our clients. We are transparent about our business practices, market outlook and skills because that’s how you build trust.
Independence
As independent portfolio managers, we always act in a completely impartial manner. The only remuneration we receive is from our management fees as we do not sell any third-party investment products for which we receive commissions. As such, our compensation is directly tied to the value and growth of our clients’ portfolios.
Expertise
We are aware of our strengths and we aim to be the best at what we do – finding the greatest investment opportunities in the equity and bond markets. We believe that it is by refining our expertise that we will deliver exceptional results.
Confidentiality
We place the highest priority on safeguarding client information. Strict cybersecurity and other measures are in place to protect our portfolio data and to ensure the utmost confidentiality.
Responsability
We are collectively responsible for managing our clients’ portfolios with their best interests in mind and for reaching their investment objectives. For us, the value of responsibility also translates into the importance of contributing to sustainable prosperity for future generations by integrating ESG criteria into our investment processes.
Our Partners
These service providers allow us to focus on our strengths: portfolio management and client service. By outsourcing custodial, trading, settlement as well as certain of our legal and administrative activities to reputable suppliers, we ensure integrity and excellence.
Custodian
Fund Administrator
Fund Trustee
Auditors
Legal counsel
J. Anthony Boeckh
Chairman of the Board
Tony became Chairman of the firm in June 2017. In the early 1960’s, he spent four years at The Bank of Canada working in monetary and economic analysis. From 1968 to 2002, Tony was Chairman, Chief Executive and Editor-in-chief of Montreal-based BCA Research (also known as The Bank Credit Analyst), which he built into a world renowned independent publisher of global macroeconomic research and investment advice. From 1968 to 1973, he also taught Economics and Finance at McGill University. From 1985 to 1999, Tony was Chairman of Greydanus, Boeckh and Associates, which managed $2-billion in fixed income assets and was sold to Toronto-Dominion Bank.
Tony authored The Great Reflation, which was published in 2010 and was ranked #1 on Amazon, as well as co-authored The Stock Market and Inflation, published by Dow Jones-Irwin in 1982. Together with his son Rob Boeckh, he was publisher and co-editor of the Boeckh Investment Letter from 2009-2013, a commentary focusing on current investment prospects. Tony is currently President of Boeckh Investments Inc., a family office, and Chair of the Graham Boeckh Foundation, a private family foundation established in honor of his son. Through the Foundation, the Boeckh family provides funding for initiatives in the area of mental health and other related disciplines. The Foundation’s work has expanded to support policy research and other initiatives designed to transform the mental health care system in Canada and improve the lives of those suffering from mental health problems.
Tony is also a Board member of the Brain & Behavior Research Foundation in New York, and a founding trustee of the Fraser Institute in Vancouver, British Columbia, an economic “think tank” dedicated to free market principles. He is a former Chair of Brain Canada (Neuroscience Canada) and a former Director of the Mental Health Commission of Canada. Tony holds a PhD in Finance and Economics from The Wharton School, University of Pennsylvania and a B. Com from the University of Toronto.
Stephen Takacsy
President and Chief Executive Officer, Chief Investment Officer and Senior Portfolio Manager, Canadian Equity
Stephen joined the firm in 2006 as Chief Investment Officer to help establish new investment strategies, and manage equity and fixed income portfolios. He became Chief Executive Officer in 2017.
Stephen's diverse career in finance spans over 30 years, including Corporate Banking at Royal Bank of Canada, Investment Banking at Richardson Greenshields, and managing the proceeds resulting from the growth and sale of the control block of one of Canada’s leading entertainment companies where he was Senior Vice President and Chief Financial Officer. His extensive experience at analyzing and assessing the value of companies in many different industries, and sizing up management and their business plans, has added significant value to our clients' portfolio returns.
Stephen was Chairman of the Finance Committee of Loyola High School and a long-time member of the school’s Board of Governors. He is currently a member of the Board of Governors of The Marianopolis Millennium Foundation and Chairman of its Investment Committee, Co-Founder and Chair of Conservation Manitou, a registered charity focused on the preservation of natural areas in the Laurentians, as well as a director of quick service restaurant franchisor BeaverTails Canada Inc. Stephen holds an MBA in International Finance, a B. Eng from McGill University, and the Partners, Directors and Officers certification.
Lorie Haché
Office Manager and Senior Manager, Client Services and Portfolio Administration
Lorie joined the team in 1995 as Senior Manager Client Services and Office Manager and has over 30 years of experience in the Financial Industry which started at BMO Nesbitt Burns. She holds a B. Com in Finance from the John Molson School of Business.
Marc Dansereau
Senior Manager Operations, Technology & Chief Compliance Officer
Marc joined the team in 2019. He has cumulated over fifteen years of experience in leadership positions in the portfolio management industry with stints at Caisse de dépôt et placement du Québec, National Bank of Canada and Triasima Portfolio Management. He holds a B.Sc. in Economics as well as a B.Sc. in Computer Science from Université de Montréal.
Olivier Tardif-Loiselle
Lead Portfolio Manager, Fixed Income
Olivier joined the firm in 2020 as Lead Portfolio Manager of Fixed Income. He is also a member of the firm’s Investment Committee. He began his financial career working for iA Financial Group (Industrial Alliance, 4th largest life insurance company in Canada) as a credit analyst in the Fixed Income & Corporate Credit team. Olivier then spent 3 years as a trader at iA, where he traded money market securities, corporate credits and government bonds. Finally, he spent 2 years as a senior trader and strategist at iA, where he helped develop strategies and manage portfolios as well as trade a variety of derivatives, ETFs, corporate credits and government bonds in different currencies. While at iA, he developed an expertise in portfolio management and trading for investment funds, pension funds and LDI (Liability Driven Investment). Olivier holds a B. Com in Finance from Laval University, as well as the Chartered Financial Analyst (CFA) designation.
Kate Passingham
Portfolio Administrator and Associate Relationship Management
Kate joined our team in 2021 as a portfolio administrator and associate relationship manager. She has held various positions in the financial industry over the past 4 years. Kate holds a B. Com in Finance from the John Molson School of Business and the Chartered Investment Manager (CIM) designation from the Canadian Securities Institute.
Elisa Stawnyczy
Portfolio Administrator & Compliance Associate
Elisa joined the Portfolio Administration and Compliance teams in 2021. She joined us from a well known fund administrator where she worked with large private equity firms and gained experience in compliance and entity management. Elisa holds a B. Com in Finance from the John Molson School of Business and has the Chartered Investment Manager (CIM) designation from the Canadian Securities Institute.
Matthew Kaszel
Portfolio Manager, Canadian and International Equity
Matthew recently joined us as Portfolio Manager of Canadian and International Equity. He worked 9 years as research analyst and portfolio manager for an established Montreal based investment management firm. Matthew holds a B. Com in Finance from the John Molson School of Business, as well as the Chartered Financial Analyst (CFA) designation.