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Portfolio Manager Discussion

Opportunities in a Volatile Market

Investment Series
Date:
June 17, 2025

The global investment environment remains volatile in the wake of the recent decision by the U.S. administration regarding tariffs on steel and aluminium imports. This shift has reignited trade tensions, despite a previous period of relative calm.

For managers with a long-term view, such as those on the Pembroke team, volatility can, however, allow quality to become apparent. And it is quality companies that create sustainable value.

In June 2025, Jeff Tory and members of the Pembroke investment team held a discussion that included a review of the first six months of the year and their outlook on what lay ahead.

We invite you to watch the recording.

Recording

Recent Events

Perspectives from the Investment Team
Expanding the Spectrum of Quality Growth Investing
International Growth Fund: Meet Our Investment Team
U.S. Tariffs and Your Investments
Budgeting for Long-Term Saving
All Events

Pembroke Speakers

J. Matthew Beckerleg, MBA

Partner, Portfolio Manager, Director

Matthew Beckerleg is a Partner and Portfolio Manager at Pembroke, co-leading the firm’s U.S. equity strategies and contributing to balanced mandates. With experience in private equity and M&A at Audax Group and Morgan Stanley, he focuses on growth companies in the technology and consumer sectors. Matthew holds an MBA from MIT Sloan and a BA in Economics from Columbia University.

Doug Pospisil, CFA

Partner, Portfolio Manager

Douglas Pospisil is co-leader of the Dividend Growth Strategy and oversees research in the healthcare, industrials and real estate sectors. Since joining the firm in 2003, he has built a career rooted in long-term equity investing. He now draws on over 20 years’ experience in research, portfolio strategy and collaborative investment management.

Jeffrey S.D. Tory, CFA

Chair, Partner, Director, Portfolio Manager

Jeff Tory joined Pembroke in 1987 as an analyst under the mentorship of founders Ian Soutar and Scott Taylor. Since then, he has become a trusted leader in North American growth equity investing. Jeff also mentors Pembroke’s investment team and contributes to the broader community through board service, teaching and philanthropy.

Martin Tzakov, CFA

Partner, Portfolio Manager

Martin Tzakov co-leads Pembroke’s Canadian All-Cap strategy, with a focus on healthcare and consumer sectors. Known for his analytical depth and long-term approach, he also mentors future investors through Concordia University and supports community health initiatives as Co-President of the CHU Sainte-Justine Foundation’s Winter Triathlon Organizing Committee.

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