June 05, 2025
There's no place like home
After decades of chasing returns abroad, Canadian investors may soon find reasons to come home.
In recent years, domestic exposure has been steadily reduced in favour of international diversification – and largely for good reason. The U.S. has outperformed on nearly every metric: economic growth, corporate profitability, equity returns, and financial innovation. That "U.S. exceptionalism" trade has dominated asset allocation decisions across pensions, institutions, and households alike.
About the Author
Lorne Gavsie is Senior Vice-President and Head of Macroeconomic & FX Strategy at CI Global Asset Management. In his role, he is responsible for leading a dedicated macroeconomic and FX effort, harnessing the global expertise and knowledge across CI GAM, producing insights to be leveraged for investment purposes and providing our clients with timely and valuable insights. He is also responsible for CI GAM’s currency overlay and hedging strategies. Lorne brings over 25 years of experience in the industry, specializing in currencies, trading and global markets.
Prior to joining CI GAM in 2015, Lorne held various roles with major Canadian banks including Managing Director, FX Europe based in London, England and Global Head, E-FX based in Toronto.
Lorne holds an MBA from the London School of Economics & Politics, HEC Paris and NYU Stern (collectively known as TRIUM) and is a member of the Bank of Canada’s Canadian Foreign Exchange Committee (CFEC).
About the Author
Neil Shankar is CI Global Asset Management’s Economist, responsible for monitoring key macroeconomic trends and shaping CI GAM’s economic outlook. He actively participates in investment and asset allocation discussions, helping guide decision-making.
A leading contributor to CI GAM’s Capital Insights publication, Neil shares in-depth perspectives on evolving economic conditions. He also frequently engages with stakeholders throughout the organization and externally, helping to deepen understanding of the economic landscape. He is regularly quoted in the press for his views on the economy and markets.
With over 10 years of industry experience, Neil joined CI GAM in 2024 after holding similar roles at other major Canadian financial institutions. Neil holds an MA in Business Economics from Wilfrid Laurier University and a BA (Honours) in Economics from The University of Western Ontario.
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