February 2019 Model Portfolio Review
The market rally that kicked off the year in January kept on rolling through February with nearly all asset classes ending the month higher. Investor’s appetite for risk remained strong with small and mid-cap stocks outperforming large caps. The Russell 2000 gained 5.2% and the S&P 500 rose by 3.2%. The trend held globally as the MSCI World Small Cap Index was up by 3.8%, outpacing the large...
Read MoreOctober 2018 Model Portfolio Review
I will just come right out and say it. I hate October. Sure, the changing leaves make it a beautiful time of year to pack up the family and take a relaxing drive through the country, the NHL and NBA seasons kick off in earnest, and the Thanksgiving holiday gives us time to pause and reflect with friends and family about how grateful we are for all that we have. But, there is a dark side to the...
Read MoreAugust 2018 Portfolio Review
The dog days of summer were in full force in August as many traders took some down time. Market volumes and new issue activity were down, resulting in a mixed month on the markets. Canadian bond markets were mostly higher as yields eased. The FTSE/TMX Canada Universe Bond Index ended up 0.75%, with corporates outpacing governments on a slow new issue calendar and tight dealer inventories.
Read MoreJuly 2018 Portfolio Review
On balance, July offered up a solid start to the third quarter. Despite the increasing global trade war, economic growth numbers to pointed to continued expansion. Corporate earnings, particularly in the U.S. were strong, thanks largely to the tax cuts introduced by President Trump back in December. Investors also took some solace in indications the U.S. may be willing to pull back a bit on the trade front, after the U.S. and Europe agreed to a cease fire on tariffs while a new trade deal is negotiated. There were also signs that the U.S. may be willing to reopen NAFTA negotiations.
Read MoreJune 2018 Portfolio Review
In this environment, the portfolios performed well, led by our equity focused Growth Portfolio which gained 1.96% on the month. This result outpaced its benchmark thanks to a strong showing from the quality focused Fidelity Small Cap America Fund and the defensively positioned Mackenzie Ivy Foreign Equity Fund. The defensively positioned Conservative Portfolio rose by 0.6% but trailed its index. The largest headwind was the Sentry Small Mid Cap Income Fund which trailed its benchmark, followed by the RBC Global Corporate Bond, which ended the month 0.3% lower in a very tough global credit environment. Our Balanced Portfolio earned 1.1%, which matched its benchmark.
Read MoreSeptember 2017 Portfolio Review
Looking back through time, September and October have been the most difficult months for investors. If there is a big drop in the equity markets, chances are, it’ll happen during these two months. Well touch wood, one down, and one to go, with September being a decent month for most investors. Global equity markets were mostly higher, while Canadian fixed income markets closed lower on rising...
Read More