RBC O’Shaughnessy U.S. Value Fund
Fund Card With a modest 2.3% gain in the final quarter of the year, and an 8.9% loss for 2015, this quantitatively managed U.S. equity offering was the worst performing funds on the Recommended List. There were a couple of key factors contributing to the underperformance. The first is the fund’s currency exposure, which is fully hedged back to Canadian dollars. Because of this, it missed out on...
Read MoreMackenzie U.S. Large Cap Class
Fund Card Using a mix of top down thematic investing and bottom up security selection, this fund managed by Erik Becker and Gus Zinn, posted a very strong 10.6% gain in the final quarter of the year. It was largely the technology and consumer names that propelled it higher, while the unhedged currency position bolstered gains further, as the Canadian dollar continued its slide against the U.S....
Read MoreIA Clarington Canadian Conservative Equity Fund
Fund Card This is a fund that I continue to struggle with. There is no denying that recent performance has been abysmal, and there was a definite uptick in the volatility, and an erosion in the downside protection offered in the most recent selloff. But unlike the Franklin U.S. Rising Dividends Fund, which I removed from the Recommended List, I am more comfortable with the reasons for the...
Read MoreCambridge Canadian Equity Class
Fund Card With a gain of 1.5% the fund managed to outperform the S&P/TSX Composite Index, but trailed its peer group. The managers have kept the sector positioning mostly unchanged over the quarter, adding slightly to consumer staples and financials, while reducing consumer discretionary names. At the end of the year, it looked much different than the broader Canadian equity market, with...
Read MoreFranklin U.S. Rising Dividends Fund
Fund Card When I first added this fund to the Recommended List I really liked its risk adjusted return profile. While it often lagged the broader market on an absolute basis, it’s lower than average volatility and excellent downside protection more than made up for it. This time however, it sold off more severely than the market and the overall volatility profile was also increasing. Looking...
Read MoreTD Science & Technology Fund
Fund Card One of the more interesting sectors to watch has always been the technology sector. There are constantly new ideas being developed and innovative products being brought to market. While this is all “cool”, there can be a higher degree of risk, making it an ideal candidate for a mutual fund or ETF. One of my favourite funds in the sector has been this T. Rowe Price managed offering. It...
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