Morningstar - Q1 2021 - 71
Institutional Learning
Simmie grew up in Toronto and went to a high
school that specializes in math and science.
She thought she would be an engineer, but her
dispassion for physics ended her interest
in that career path. After college, she worked as
an analyst at Ipsos, a market research firm, then
shifted to Bristol Gate Capital Partners, an
investment manager co-run at the time by her
father, Peter Simmie. In 2015, she tried her hand as
an investment advisor but found she preferred
the investing side of the business. She returned to
Bristol Gate in 2017 as a director of business
development, working in institutional sales.
Back at Bristol Gate, Simmie gained experience
in client onboarding, compliance, marketing, and
quantitative work. But her most important
lesson was the investment discipline developed by
her father and his business partner, Richard
Hamm. That strategy focuses on dividend growers,
uses a concentrated portfolio with equal weights,
and considers portfolio fit for each position.
The Honeytree model is inspired by Bristol Gate's
method of portfolio construction.
" We don't do a traditional financial process any
differently than Bristol Gate, " Simmie says.
" But it's bringing in ESG on equal footing through
all parts of the process and treating it like
fundamental data-that is the differentiator. "
Honeytree has some Canadian investors on
board, but assets under management are below
$25 million. The firm will register in the U.S.
with the SEC and aims to develop an exchangetraded fund. " Ultimately, we built the
strategy for the people, whether they are
foundations, endowments, advisors, or retail
clients, " Simmie says.
Liz Simmie, co-founder, Honeytree Investment
Management.
How she caught our eye: Builds her own ESG data
sets to uncover companies with responsible growth.
Career: Graduated from McGill University
with a bachelor's degree in history and economics.
After college, she worked first as a research
analyst at Ipsos, then went to Bristol Gate Capital
Partners as a senior portfolio analyst. After
a stint as an investment advisor, she returned
to Bristol Gate in institutional sales, then
struck out with Paula Glick in 2018 to form Honeytree
Investment Management.
Personal: Married, with three kids, ages 9, 7,
and 6. Likes cooking and baking. Before launching
Honeytree, her calling outside of professional
work was synchronized swimming, where she
coached elite 9- to 11-year-olds at the provincial and
national level in Canada.
Simmie likes her chances of success: " In one
sense, it feels risky. Two women go start
a firm without $1 billion in seed money. But our
costs are low, and I know what the bootstrapping
process is like. We can do it. " K
Charles Keenan is a freelance financial journalist.
Photography by Jazmina Alzaiat.
morningstar.com/lp/magazine
71
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Morningstar - Q1 2021
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