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Suncor’s Fort Hills oilsands development. Industry watchers say some investors who’d pulled money out of the energy sector in recent years have started to return. (Kyle Bakx/CBC) Some investors who’d pulled out of the oil and gas sector in recent years have started to return. Among them is Calgary-based wealth portfolio manager Martin Pelletier, who said his firm exited the oil and gas sector "in a material way" in 2015 before returning about a year and a half ago. "I was on the sidelines for a good part of the last … four or five years, I guess," said Pelletier, with the wealth management firm Wellington-Altus Private Counsel, which manages more than $20 billion in assets. Pelletier said he was drawn back in part by rebounding oil prices and what he described as a "precarious" supply situation. "[That] made it a lot more of an attractive investment environment," he said. These days, hefty profits and a renewed interest in energy security prompted by the war in Ukraine are the two biggest reasons for the renewed interest by investors, after several years of lackluster financial returns and growing concerns about climate change. Martin Pelletier is a senior portfolio manager with […]
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