The Globe and Mail reports in its Thursday edition that Bill Tilford, head of quantitative investments at RBC Global Asset Management, says the bet on energy has been about seeking producers that are cheap with a record of stable cash flow. A Bloomberg dispatch to The Globe says that this has led him to large-cap integrated producers including Suncor. "You can almost think of the quarter as A Tale of Two Cities," said Mr. Tilford, who runs the RBC Qube Low Volatility Canadian Equity Fund. "We had a straight line down then a straight line back up. When we get market events that are volatile with huge downdrafts and sharp updrafts, those are the environments in which we excel." The fund is up 4.6 per cent through April 12, among the best-performing equity funds in the group. The manager added Canadian energy producers including Suncor and Imperial Oil, joining an existing holding in TransCanada. He sold some positions in Dollarama, up 29 per cent in the 12 months through the first quarter, to pocket gains while buying Franco-Nevada. "This is probably the first time we've put gold stocks back in the portfolio in several years," Mr. Tilford said. His fund targets about 25-per-cent turnover each year.