With a gain of 24.6%, this fund captured the bronze for year to date performance from a Canadian mutual fund.
Managed by Tony Genua using a bottom up, earnings growth momentum driven approach, this concentrated portfolio’s performance seemed to turn a corner in May 2014, when began outpacing not only its peers, but also the Russell 2000.
Much of this outperformance can be attributed to the overweight technology exposure, which made up 43% of the fund at the end of May.
Given the momentum approach used, it is possible that the fund may continue to outperform, but be warned, valuations are quite rich, and some pullback is likely. If you have held this fund for a while, you may want to take some money off the table sooner than later.