(Business Edge columnist Gyle Konotopetz regularly profiles the top stock picks of some of Canada's most accomplished investment pros.)

FEATURED PRO: Randy Oliver is president and portfolio manager of Hesperian Capital Management (www.hesperiancapital.com). The firm manages the Norrep series of funds.

Fund Form: The Norrep fund has a one-year return of 33.8 per cent, compared to the group average of 15.8 per cent, and a three-year compound annualized return of 39.2 per cent, compared to the group average of 25.13 per cent.

Management Expense Ratio: 2.49 per cent.

Randy Oliver

Oliver's Perspective: "The market looks a little pricey right across the board. According to our ranking methodology, we're finding the large caps to be a little more attractive than the small caps right now and it's been the other way for a long period of time. We are still finding lots of good ideas, but there aren't as many attractive small caps as there have been in the past.

"We have held on to the same over-weighted position on energy stocks that we've had for the last three or four years and we think it will pay off over time. We are a long-term bull on energy, but when I tell people that I think oil prices are going to be high, they ask if that means $80 (US per barrel) and I say, no, $40 to $60 is my expectation."

First Star

* Axia NetMedia (TSX: AXX)

* Recent Price: $2.52.

* 52-Week Range: $0.82-$2.90.

* Snapshot: Axia NetMedia designs and operates broadband networks for government and enterprise customers globally. Under a 10-year renewable contract with the province of Alberta, they manage and operate the Alberta SuperNet, linking provincial offices, health-care facilities and libraries in more than 400 communities.

They are preparing to administer similar networks in Europe. They also provide digital communication solutions and learning applications to various business sectors.

* CEO: Art Price.

* Head Office: Calgary.

* Vital Stats: Price/Earnings Ratio, 8.7; Revenue (last 12 months), $14.5 million; 5-Yr Revenue Growth, 11.6 per cent; Earnings (last 12 months), $47.7 million; Market Cap, $136.6 million; Shares Outstanding, 54.2 million.

* Oliver's View: "Axia is just finishing the SuperNet in Alberta that will provide access to small towns and large cities on a province-wide basis.

Their technology in that area is giving them a great shot at a similar introduction in France and that's a huge potential market for them. The P/E ratio on current earnings is very low (8.7) and the return on equity is 32 per cent. They have ongoing regular earnings and the underlying fundamentals are just wonderful."

* Risk Rating: Medium.

* Web Watch: www.axia.com.

Second Star

* Vector Aerospace (TSX:RNO)

* Recent Price: $4.25.

* 52-Week Range: $2.50-$4.65.

* Snapshot: Vector Aerospace provides military and commercial customers with aviation repair and overhaul services. Vector operates six business units in Canada and the United Kingdom and specializes in turbine engines and airframes for helicopters and airplanes.

* CEO: Donald Jackson.

* Head Office: St. John's, Nfld.

* Vital Stats: Price/Earnings Ratio, 19.2; Revenue (last 12 months), $322.6 million; 5-Yr Revenue Growth, 0.8 per cent; Earnings (last 12 months), $8 million; Market Cap, $146 million; Shares Outstanding, 34.5 million.

* Oliver's View: "Vector is an independent provider of aviation repair and overhaul services around the world. They have come under a couple of difficult years in 2003 and 2004 and they're getting the company reorganized under a new management team. They have a low P/E ratio and a high return on equity of 18 per cent. They are in the right spot at the right time with a new manage-ment team that seems to be performing very strongly."

* Risk Rating: Medium.

* Web Watch: www.vectoraerospace.com.

Third Star

* Canam Group Inc. (TSX:CAM.SV.A)

* Recent Price: $9.80.

* 52 Week Range: $5.52-$9.95.

* Snapshot: Canam Group designs and distributes products and solutions for the building industry. Aside from manufacturing an extensive array of steel construction products, Canam offers specialized construction product systems under three additional brands. The company also manufactures heavy structural steel at its plants in Canada, the U.S and Mexico.

* CEO: Marcel Dutil.

* Head Office: Ville Saint-Georges, Que.

* Vital Stats: Current Price/Earnings Ratio, 12.9; Revenue (last 12 months), $709.2 million; 5-Yr Revenue Growth, 9.5 per cent; Earnings (last 12 months), $29 million; Market Cap, $484.3 million; Shares Outstanding, 49.45 million; Dividend Yield, 0.4 per cent.

* Oliver's View: "They are involved in the infrastructure market across North America. There is a continuing strong market for them and the stock is a valuation play with a low P/E ratio on current earnings and a 17-per-cent return on equity.

"They recently announced that they are in the process of dropping the current multiple share structure (CEO Dutil owns the majority of shares in the company, which has proposed a conversion of multiple voting shares into common shares). The company will be much more favourably viewed by the market once that inequity is changed, which will probably occur in the next three months."

* Risk Rating: High.

* Web Watch: www.canammanac.com

* Oliver's Edge Record (past 12 mos): 27.7 per cent.

* Best Pick: Major Drilling Group (TSX:MDI) 87.6 per cent. Worst Pick: Century II Holdings Inc. (TSX:CH) -7.5 per cent.

Disclosure: Oliver owns shares in the Norrep funds in which the featured stocks are held.

(This feature is provided for information purposes. Investors are advised to do their own research or consult a qualified investment professional before making investment decisions.)