Dave Paterson’s Top Funds Report is published on a monthly basis and highlights the best funds that were reviewed in the past month. This is an invaluable tool that provides you with indepth, expert analysis on a wide range of mutual funds and ETFs.
You can browse through our previous editions below. You can also view our recent Mutual Fund Reviews here.
If there is a fund that you would like to see reviewed in a future edition, please send your request to feedback@paterson-associates.ca.
Top Funds Report – March 2019
The market rally that started in January kept on rolling through February with all major markets ending the month higher. The S&P 500 gained 3.2% in U.S. dollar terms, while the MSCI EAFE Index rose by 2.6%.
read moreTop Funds Report – June 2018
Download a PDF Copy of this report Markets gain in the merry month of May But equity indices likely to remain rangebound as volatility becomes the new normal … May started out nicely for equity investors as markets rallied higher on stronger corporate earnings and rising oil prices. Over the course of the month, the volatility that we had seen in February, March, and April seemed to settle down, with markets taking on a calmer tone. A calmer tone, that is, until the final few days of the month, as political uncertainty in...
read moreTop Funds Report – May 2018
Download a PDF Copy of this report Stocks positive but yield concerns loom Rising inflation rates and geopolitical tensions could create headwinds… The stock market volatility that characterized trading in February and March continued through most of April. Geopolitical headlines dominated the news, with the growing prospect of a trade war between the U.S. and China, as well as rising tensions between the U.S. and Russia over Syria. Still, equities were mostly positive in the month as first-quarter earnings continued to...
read moreTop Funds Report – January 2018
Download a PDF Copy of this report Review and Outlook for 2018 Scorecard on last year’s outlook, plus a look at what’s in store for the next 12 months. Last year around this same time, in my annual outlook commentary, I said that the biggest threat to the markets was valuation. Back then, the S&P 500 was trading at 21.3 times earnings and 17.6 times forward earnings. I noted also the 10-year average was more in the range of 14 times earnings. I even went so far as to say, “…lofty equity returns appear unlikely at current...
read moreTop Funds Report – August 2017
July was a continuation of June, with bonds down on worries over higher interest rates, and equity market were mixed with a stronger Canadian dollar acting as a further headwind
July saw Bank of Canada Governor Steven Poloz pull the trigger, pushing the Bank’s key overnight lending rate higher by 0.25%. This move has sent yields up, with the yield on the Canada five-year bond move from 1.38% on June 30, to 1.65% on July 31. There was similar movement across the yield curve, with the Canada ten-year moving from 1.75% to 2.06%, and the long bond moved from 2.13% to 2.47%. This rise in yields pushed bond prices lower, with the long end of the curve taking most of the damage.
read moreTop Funds Report – March 2017
Download a PDF Copy of this report February sees some calm return to markets Equities around the globe move higher, volatility touches multi-year lows. Valuations remain a concern… February was a good month for investors, with gains across the board. Equity markets were the big winners, with the foreign markets leading the way. The S&P 500 rose by nearly 4% in U.S. dollar terms, while the MSCI EAFE Index gained 1.5%. With the U.S. greenback gaining on the loonie, returns in Canadian dollar terms were even better, with the...
read moreTop Funds Report – January 2017
In the days since his inauguration, he has taken aim at a number of policies, including the formal withdrawal from the Trans-Pacific Partnership trade deal, and continues to talk about tearing up NAFTA. Other talk and actions have a very protectionist, “America First” tone, of which the markets, at least for now seem to approve. This month, I highlight some of the best and worst performers from 2016…
read moreTop Funds Report – December 2016
Download a PDF Copy of this report Equity Markets Surprise with strong 2016 Outlook for 2017 more challenging with new President and likely Fed moves… To say that 2016 was an interesting year, would be a bit of an understatement. It was a year that gave us Brexit, the death of a number of beloved celebrities, the election of a celebrity President in the U.S., a hike in U.S. interest rates, and on balance, another decent year for investors. Heading into the last full trading week of the year, most global equity markets are in...
read moreTop Funds Report – January 2016
Download a PDF Copy of this report 2015 was a Year to Forget Volatility returned with a vengeance, dampening investor confidence… 2015 was one of the more challenging years in recent memory. It had a little bit of everything for investors, but perhaps the most impactful was the return of extreme market volatility. Global equity markets were largely flat in U.S. dollar terms. The S&P 500 gained a modest 1.4%, while the MSCI EAFE Index was down by 0.4%. However, when you factor in the sharp decline in the Canadian dollar, the...
read moreTop Funds Report – June 2015
. Download a PDF copy of this report – Investment Markets Mixed in May Canadian equities under pressure from weaker commodities May was a mixed month in the equity markets, with U.S. equities rising, while Canadian, European and Asian markets finished lower in U.S. dollar terms. However, with the Canadian dollar continuing its slide against the greenback, investors in unhedged investments saw modest gains in Canadian dollar terms. In Canada, the S&P/TSX Composite Index lost 1.2%. Energy was a drag, as oil names were under pressure...
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