Dynamic Power Global Growth Class
The overwhelming majority of the time, I focus on funds that do a great job at managing volatility and protecting capital. This fund is definitely an exception to that, with a standard deviation that is nearly double the MSCI World Index, a beta that is well north of 1, and upside and downside capture ratios that will leave you shaking your head. Managed by Noah Blackstein, this is a...
Read MoreMackenzie Ivy Foreign Equity Fund
I have long said that this is the global equity fund you want to own when markets get volatile, and that point was driven home by recent market activity. Between September 1 and October 16, the MSCI World Index dropped by nearly 6% in Canadian dollar terms. During the same period, the Ivy Foreign Equity Fund dropped a little more than 3%, or roughly 56% of the downside movement of the market....
Read MoreTrimark Canadian Small Companies Fund
Invesco recently announced that this fund would be closed to new investors effective October 8. It is a “soft cap”, meaning that those investors who already held the fund could add to their holdings. While it is unfortunate that one of the best small cap funds in the country is being capped, it really is in the best interest of the current investors for them to do so. The managers run a very...
Read MoreFidelity Canadian Large Cap Fund
One of the things I like about this fund is manager Dan Dupont is disciplined and sticks to his value focused style. He runs a portfolio that looks nothing like its benchmark, and in a rarity for a Canadian focused fund, has no exposure to Canadian banks or golds. It is also significantly underweight in energy. The result is a return stream that is much different from the index, which helps...
Read MoreDynamic Global Real Estate Fund
I had become increasingly concerned about the risk reward metrics of this fund for a few quarters now. While I don’t believe it to be a bad fund, I don’t believe it is the best in the category. It has struggled for a couple of years, on both an absolute and risk adjusted basis, and when I look at the metrics of the underlying portfolio, I don’t expect that there will be a rapid...
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