Top Funds Report – September 2017
Historically, August has been a sleeper of a month for investors, as many take time away to enjoy the last few weeks of summer. If one only looked at the investment returns, you may believe this August was no different, as many global markets finished the month roughly where they started. However, digging deeper the month was anything but dull.
Starting with the good news, it became clear that the global economy was enjoying synchronized global growth for the first time since the onset of the global financial crisis. Unfortunately, geopolitical concerns took center stage, as the U.S. and North Korea started a war of words that had some worried Armageddon was imminent. Fortunately, calmer heads prevailed, and markets were largely flat to mixed.
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 – July 2017
Download a PDF Copy of this report Equities mixed, higher yields drag bonds Worries over a Bank of Canada rate hike pulls down bonds, pushed up dollar… Equity markets were mixed in June, with Asia, led by China leading the way, with a 4.2% gain in U.S. dollar terms. Here at home, the S&P/TSX Composite fell by 0.75% on continued weakness in energy. Financials stabilized after...
Read MoreTop Funds Report – June 2017
Markets were mixed in what turned out to be a relatively uneventful May, at least in comparison with the last couple of months. The S&P/TSX Composite Index sank by 1.3% on weakness in energy and financial names. Foreign equity markets were mostly higher, with Europe leading the way, as the MSCI Europe Index gained 5.1% in U.S. dollar terms. U.S. equities were positive, with a modest 1.4% rise in the S&P 500 in U.S. dollar terms. Asian markets were mixed.
Investor confidence in the two largest sectors of the Canadian market continued to weigh. Energy names faced headwinds as the oil price fell by more than 2% as increasing U.S. production raised supply worries. Also hurting the sector was Canadian dollar strength, which saw the loonie gain 1.2% in the month.
Read MoreApril 2017 – Top Funds Report
Download a PDF Copy of this report March sees strong gains for investors Another solid month pushes valuations even higher. Looking for strong earnings to justify current levels… March was a solid month for investors with gains across the board. The FTSE/TMX Canadian Universe Bond Index gained 0.41%, as yield remained largely unchanged in the month. Corporate and long term bonds...
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...
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