Higher Income and Diversification All in One Niche Asset Class

Welcome to Episode 4 of Foyston For Thought.   In this episode, recorded on June 29, 2026, Gabriel Lopezpineda, Head of Institutional at FGP, speaks with Ryan Domsy, Head of Fixed Income, about preferred shares, a hybrid asset class that sits between traditional stocks and bonds.   Ryan explains how preferred shares work, why they may offer attractive income potential, and how they can help diversify portfolios by behaving differently than both equities and bonds. The conversation also explores the liquidity of the preferred share market, the size and structure of Canada’s hybrid securities market, and why its complexity can create opportunities for experienced active managers.   As investors continue to navigate uncertain markets, higher interest rates, and evolving portfolio needs, preferred shares may offer a compelling complement to traditional fixed income and equity allocations.   Listen in to learn why preferred shares deserve a closer look—and why sometimes the most valuable portfolio additions are the ones investors have overlooked. Disclosure:   This podcast is intended for informational purposes only and does not constitute legal, tax, security or investment advice, an opinion regarding the suitability of any investment nor a solicitation of any type. The opinions expressed are as at the date the podcast was recorded and are subject to change without notice. Foyston, Gordon & Payne is registered as a Portfolio Manager in every jurisdiction in Canada, an Exempt Market Dealer in every province in Canada, an Investment Fund Manager in Ontario, Quebec and Newfoundland & Labrador, and as an Investment Advisor in the United States. Foyston, Gordon, and Payne manages a number of pooled funds referred to as FGP Pooled Funds that are offered through a prospectus exemption to residents of Canada. The values of the FGP Pooled Funds change frequently. All investment involves risk. Unless otherwise stated, performance is on an annualized basis, in Canadian dollars and is gross of management fees. Past performance is not indicative of future performance. This podcast may contain forward-looking statements based on our views, information and assumptions as of the date of the recording. Listeners are cautioned that actual events may differ significantly. For further information on Foyston, Gordon, & Payne, please visit our website at [www.foyston.com](www.foyston.com).