Research driven investment manager
based in Toronto

Our history
Veritas Asset Management was founded in February 2016 to capitalize on the forensic accounting-based investment approach pioneered by our affiliate Veritas Investment Research.
With a history of groundbreaking early warnings on Nortel, Yellow Pages and Valeant, among others, Veritas’ track record shows that superior research leads to better investment decisions.

Our journey

2016

Veritas Asset Management Inc. was founded and registered as a Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer

2017

Veritas opened the Veritas Long-Short Fund under an Offering Memorandum

2018

Veritas opened the Veritas Canadian Equity Fund under a Simplified Prospectus

2019

Veritas converted the Veritas Long-Short Fund into the Veritas Absolute Return Fund, under a Simplified Prospectus

2021

Veritas partnered with Next Edge Capital Corp. to sub-advise the Veritas Next Edge Premium Yield Fund under a Simplified Prospectus

Our values

Transparency

We offer competitive fee structures with no performance fees that are aligned with our investors.

Diligence

Our bottom-up, fundamental analysis generates high-conviction investments, identifying attractive entry and exit points for individual securities.

Lower Volatility

We strive to outperform key benchmarks with lower volatility and low correlation.

Discipline

Our investment selection process achieves attractive returns while managing risks.

Meet the people

A team of dedicated Professionals

Our team spans a diverse range of educational and professional backgrounds, that delivers an essential set of unique perspectives, experiences and skills.

President, CEO, CCO, Advising Representative

Anthony Scilipoti

FCPFCA, CPA (Illinois)

Anthony is the President, CEO and CCO of Veritas Asset Management Inc. He also serves as an Advising Representative on Veritas Asset Management Inc.’s funds.

Anthony Scilipoti

FCPFCA, CPA (Illinois)
President, CEO, CCO, Advising Representative

Anthony is the President, CEO and CCO of Veritas Asset Management Inc. He also serves as an Advising Representative on Veritas Asset Management Inc.’s funds. Anthony co-founded Veritas Investment Research in 2000 and launched Veritas Asset Management Inc. in 2016 as a way to action the research ideas.

Anthony is a Fellow Chartered Public Accountant, a Fellow Chartered Accountant, a Certified Public Accountant (Illinois) and a member of the Association of Certified Fraud Examiners. He has been active in accounting standards setting since 2003. He has served as a member of the Ontario Securities Commission’s Continuous Disclosure Advisory Committee since 2006. In 2019, he was appointed to the Board of the Capital Markets Advisory Committee of the International Accounting Standards Board. He is a former member of the Canadian Accounting Standards Board, the Canadian Institute of Chartered Accountant’s Emerging Issues Committee, and was the Chair of CPA Canada’s Users Advisory Committee.

Anthony began teaching in 1997 as a part-time accounting instructor at York University’s Schulich School of Business in the MBA and BBA Programs. He was nominated for the Teaching Excellence Award in 1997 and 2003. Several of Anthony’s cases have been published in Cases in Financial Accounting: A Principles Based Approach, First Edition, 2006, and In Search of the “Right” Numbers – an Ivey Case that profiles Bombardier Inc. in 2001, published July 2020. While he no longer teaches full courses, Anthony guest lectures at the undergraduate and graduate levels and runs custom training programs on financial statement analysis and business valuation for Canadian and U.S. analysts and portfolio managers, regulators, accountants, as well as financial and non-financial professionals.

As an advocate for investors’ rights, Anthony is a frequent media commentator and public speaker on financial accounting and disclosure issues and is considered an industry expert in special situations related to accounting. Anthony has also served as an expert witness for securities regulators and other civil disputes.

Advising Representative, Director

Sam LaBell

MA, MBA, CFA

Sam is the lead Portfolio Manager and Advising Representative for our funds, also serving as a Director at Veritas Asset Management Inc.

Sam LaBell

MA, MBA, CFA
Advising Representative, Director

Sam is the lead Portfolio Manager and Advising Representative for our funds, also serving as a Director at Veritas Asset Management Inc. Prior to moving to VAM, Sam spent five years as Veritas Investment Research Head of Research and 11 years as the lead analyst covering the Oil & Gas sector.

In 2006, Sam was the first analyst to highlight Canada’s stock option backdating problem, which triggered a review of option filing practices by the Canadian Securities Administrators. Backdating problems were subsequently discovered at BlackBerry Ltd., Ensign Energy Services and Penn West Petroleum Ltd., among others. From 2004 to 2020, Sam served on the Veritas Investment Committee to select the firm’s V-List, a model portfolio of Top Buy ideas.  As well as conducting teach-ins for Veritas’ clients, Sam has been a featured speaker at CPA Canada conferences and on Business News Network. Sam is a CFA Charterholder and holds a BA in Economics from the University of Toronto, an MA in Economics from the University of Ottawa, and an MBA from the Richard Ivey School of Business.

Chief Financial Officer, Director

Josie Monasterolo

BFA, BA

Josie is Veritas Asset Management Inc.’s Chief Financial Officer. She also ensures that Veritas’ businesses are effectively working together to achieve organizational goals and objectives.

Josie Monasterolo

BFA, BA
Chief Financial Officer, Director

Josie is Veritas Asset Management Inc.’s Chief Financial Officer. She also ensures that Veritas’ businesses are effectively working together to achieve organizational goals and objectives. Josie joined Veritas in 2012 as an Executive Assistant and Office Manager, and has taken on additional responsibilities as the organization has expanded.

Josie obtained her BFA with Honours in 2004 at York University, with a minor in Sociology.

 

Vice President of Sales

Ty Smith

CIM

With 20 years of experience in the financial services industry, Ty brings a unique approach and understanding to investment management and serving his clients.

Ty Smith

CIM
Vice President of Sales

With 20 years of experience in the financial services industry, Ty brings a unique approach and understanding to investment management and serving his clients.

Ty’s prior experience includes a successful role as a trader through the global financial crisis, Vice President of Sales at Purpose Investments, and most recently, as a financial advisor with Manulife securities where he managed $130 million in assets and helped business owners, professionals and families navigate the complexities or growing and protecting their wealth and estate.

After receiving his Bachelor of Commerce degree from the University of Guelph, Ty’s work experience began in sales with Xerox, where he consulted with small business owners on their office equipment needs. In 2004, Ty made the move to the financial services industry and knew he had found his home!

Equity Analyst

Jacob Liu

MBA, MA, BBA

Jacob is an Equity Analyst at Veritas Asset Management Inc., focusing on researching investment ideas for our funds. Prior to this, Jacob was a Research Associate in the Accounting and Special Situations Group at Veritas Investment Research, focusing on organizations that pose financial risks.

Jacob Liu

MBA, MA, BBA
Equity Analyst

Jacob is an Equity Analyst at Veritas Asset Management Inc., focusing on researching investment ideas for our funds. Prior to this, Jacob was a Research Associate in the Accounting and Special Situations Group at Veritas Investment Research, focusing on organizations that pose financial risks. Prior to joining Veritas Investment Research in 2020, he worked at TD Securities on the prime brokerage desk and PwC in the alternative investments group. Jacob’s investment idea earned him a finalist placement in the 2019 Sohn Idea Contest in London, UK.

Jacob holds an MBA (Dean’s List) with specializations in Finance and Strategy from the University of Toronto, Rotman School of Management. He earned a Bachelor of Business Administration and a Master of Accounting from the University of Wisconsin-Madison, Wisconsin School of Business.

DISCLOSURES

The information contained herein is for general information purposes and does not constitute a solicitation for the purchase or sale of securities. The full details of the Fund, its investment strategies and the risks are detailed in the Fund’s current simplified prospectus and fund facts document, copies of which may be obtained from Sedar, your dealer, Veritas Asset Management Inc. (“VAM”) or at Veritasfunds.com. Please read the prospectus before investing. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. All performance data assume reinvestment of all distributions or dividends and do not take into account other charges or income taxes payable by any unitholder that would have reduced returns. The performance of the Fund is not guaranteed, unit values change frequently and past performance may not be repeated. Performance is presented in Canadian dollars, unless otherwise stated, and is net of fees of Series F units of the Fund. VAM is an affiliate of Veritas Investment Research Corporation (“VIR”) by virtue of being under common control that may also from time to time have certain common directors, officers and/or employees. VIR produces and issues independent equity research regarding public issuers to investors and other capital markets participants. VAM is a client of VIR and receives research reports from VIR at the same time as VIR’s other clients. VIR and VAM have implemented policies and procedures to minimize the potential for and to address conflicts of interest, which are available upon request.