The SteelPath Panoramic strategy takes a panoramic (i.e., wide-reaching and comprehensive) view of the investment universe to include both companies across the traditional energy value chain as well as energy beneficiaries (e.g., chemical and other material manufacturers, engineering and construction firms, and other industrial companies). The energy value chain, typically divided into upstream, midstream and downstream, refers to the chain of activities related to the development, production, transportation, distribution, processing and refining of energy.
The OFI SteelPath team employs a fundamental approach to investing with an emphasis on business risk assessment and bottom-up analysis. On a macro level, our commodity price scenario analysis across medium and long-term horizons provides a framework for sub-sector allocation and investment selection. We then seek to perform fundamental, asset-level analysis to find companies with superior risk/reward potential across a range of commodity price scenarios. Furthermore, we intend to focus on capital preservation through intentional portfolio construction, remaining cognizant of cross-sector exposures while attempting to mitigate unintentional commodity or factor bets when appropriate.
Brian Watson, CFA
Brian Watson, CFA, serves as Director of Research and is a senior portfolio manager on the SteelPath team. Prior to joining the Firm in 2009, Mr. Watson was a portfolio manager and led the MLP research effort at Swank Capital LLC, in Dallas, Texas. He also covered the MLP and diversified energy sectors for RBC Capital Markets in the firm’s Equity Research Division.
Cory Garcia serves as a portfolio manager for the SteelPath Panoramic strategy and as a senior research analyst on the SteelPath investments team for the suite of MLP strategies. He joined OFI SteelPath in 2015, coinciding with the launch of the SteelPath Panoramic strategy. Prior to joining SteelPath, he was an Equity Research Analyst at Raymond James & Associates with principal coverage of the independent refiners and midstream MLPs.