Fidelity Canadian Large Cap Fund
For the longest time this has been one of the strongest Canadian focused equity funds around. So far this year it has lagged considerably, gaining 6.5%, which is about half what the S&P/TSX Composite Index earned. The reason is the fund’s lack of exposure to materials, a significant under-weight in energy, and no bank holdings. Unfortunately for investors, these were the best performing...
Read MoreAGF Monthly High Income
This was the strongest performing balanced fund on my recommended list in the second quarter due to its overweight position in equities. The managers are becoming increasingly concerned about the health of the equity markets, causing them to pare back their exposure over the quarter. The equity weight was cut from 63% to 58%, while the fixed income increased from 28% to 34%. While it is still...
Read MoreTop Funds Report – August 2014
Download the PDF Version of this report Markets Mixed in July Geopolitical tensions and profit taking combine for a mixed month. If July only had thirty days, it would have been a pretty decent month in the global equity markets. Unfortunately, there are 31 days in July, and the last day was not kind to investors. A wave of selling took hold, driving markets lower, and taking a...
Read MoreChou Associates Fund
I’m starting to get a bit concerned about this concentrated value fund managed by Francis Chou. After stellar years in 2012 and 2013 performance appears to be slowing. It struggled in the second quarter largely the result of its holdings in three stocks; Resolute Forest Products, Sears Holdings, and MBIA Inc. Combined, these three names make up 24% of the fund. This highlights the dangers of a...
Read MoreMarkets Mixed In July
If July only had thirty days in it, it would have been a pretty decent month in the global equity markets. Unfortunately, there are 31 days in July, and the last day of the month was not kind to most markets. A wave of selling took hold, driving markets lower, and taking what was looking to be a largely positive month across the board, and turning it into a mixed bag. The S&P/TSX Composite...
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