Thomas Horvath, left, KWPMP alumnus
Liliana Tzvetkova, BComm 08, Senior Portfolio Manager, Co-Head of US Equities, CWB Wealth
"Joining KWPMP was the single most important decision I made for my early career," says Tzvetkova.
Born in Bulgaria, she began her career in computer science.
"It didn’t take long to realize it wasn’t my passion," she says. "Having a natural affinity for numbers, analytical thinking and psychology, investing seemed to be the right fit. After moving to Canada, I decided to return to university which is when I discovered the Kenneth Woods Portfolio Management Program."
She didn’t know much about portfolio management when she entered the program.
“I had the opportunity to hit the ground running. I learned not only about investing but also about how to interact with clients. We presented our strategy and performance once a year to an investment committee – our clients – a group of investment professionals that grilled us on pretty much anything you can think of. I was lucky to manage the portfolio during the 2008 Global Financial Crisis," she recalls.
"We outperformed our benchmark by 462 basis points! Managing the portfolio through one of the deepest bear markets in history was priceless. It taught me invaluable lessons about markets, investing and my own behaviour under pressure."
Tzvetkova says her investment philosophy was forged during her time as a KWPMP student.
Through specialized classes, mentorships, meetings and the work of managing the program’s portfolio, she learned about the importance of doing one’s homework, reviewing the major drivers and competitive advantages of a given company, analyzing the strength of the management team, understanding the intrinsic valuation – all these considerations were introduced during her time in the program.
Now with over a decade at CWB Wealth, she says portfolio management still excites her.
“You get to see the bigger picture, learn about different sectors, industries and companies and how they interact with each other. I got my first glimpse of all that while at KWPMP and I’ve been captivated ever since.”
Tzvetkova felt compelled to give back to the program and served as a program mentor.
“Seeing new generations of KWPMP students thrive is deeply rewarding,” she says.
“The program provided hands-on experience managing a portfolio, three internships in the investment industry and the opportunity to build long lasting friendships within a supportive network. Many of my early job opportunities came from people I worked with during the program. In fact, my first job offer came from a company I interned with, without me even having to apply.”
