Dave Paterson’s Top Funds Report is published on a monthly basis and highlights the best funds that were reviewed in the past month. This is an invaluable tool that provides you with indepth, expert analysis on a wide range of mutual funds and ETFs.
You can browse through our previous editions below. You can also view our recent Mutual Fund Reviews here.
If there is a fund that you would like to see reviewed in a future edition, please send your request to feedback@paterson-associates.ca.
Top Funds Report – February 2017
Equity markets continued to celebrate Trump’s victory, with the S&P 500 continuing its charge higher, gaining nearly 2% in U.S. dollar terms. Currency markets were not in such a celebratory mood, as traders worried Trump’s protectionist agenda would hurt global trade. Adding to their pessimism was the view that the new administration wants to talk the dollar down to help make U.S. exports more competitive. It worked, with the U.S. dollar losing ground against many currencies, giving up more than 3% on the loonie. For Canadian investors, this meant that any unhedged U.S. currency positions lost ground. In Canadian dollar terms, the S&P 500 was lower by 1.3%.
read moreTop Funds Report – January 2017
In the days since his inauguration, he has taken aim at a number of policies, including the formal withdrawal from the Trans-Pacific Partnership trade deal, and continues to talk about tearing up NAFTA. Other talk and actions have a very protectionist, “America First” tone, of which the markets, at least for now seem to approve. This month, I highlight some of the best and worst performers from 2016…
read moreTop Funds Report – December 2016
Download a PDF Copy of this report Equity Markets Surprise with strong 2016 Outlook for 2017 more challenging with new President and likely Fed moves… To say that 2016 was an interesting year, would be a bit of an understatement. It was a year that gave us Brexit, the death of a number of beloved celebrities, the election of a celebrity President in the U.S., a hike in U.S. interest rates, and on balance, another decent year for investors. Heading into the last full trading week of the year, most global equity markets are in...
read moreTop Funds Report – November 2016
Download a PDF Copy of this report Trump Wins!?!?!? American election surprises pundits and markets… I’ll be honest, I didn’t see Trump winning. Obviously, I was wrong. But, looking at the millions of disenfranchised people living the rust belt of middle America, who have been hurt badly by globalization, and the carving out of the American manufacturing sector, and it starts to make a lot more sense. Trump isn’t the old guard, and many believe a dramatic change is needed. We now have that change, and need to figure out how to...
read moreTop Funds Report – October 2016
Download a PDF Copy of this report Third Quarter Finishes Higher Despite uncertainty over Brexit, markets remained calm, rewarding patient investors with gains… With the Brexit vote results fresh in the minds of investors, we entered the third quarter with concern that market volatility would be higher than normal. Fortunately, much of this worry was overblown, and the markets were rather calm over the summer. It was a strong quarter for both equities and fixed income investments, with all major markets showing gains. Leading...
read moreTop Funds Report – September 2016
Download a PDF Copy of this report Markets Take a Holiday in August After a strong July, markets paused in August. Attention focused on Fed… The dog days of summer were alive and well in August, with market activity rather subdued in the month. The S&P/TSX Composite Index gained 0.3%, as a rise in energy and financials was largely offset by a selloff in materials and real estate. The S&P 500 was also flat, gaining just over 0.1% in U.S. dollar terms, but with a slight drop in the Canadian dollar, it gained 0.75% in...
read moreTop Funds Report – August 2016
Download a PDF Copy of this report Second Half Starts Strong Markets rally back nicely in July. Many markets flirt with record highs… After a rocky June, the second half of 2016 started strong, with global equity markets ending the month in positive territory. With the Brexit vote now in the rear-view mirror, many investors used the selloff as an opportunity to pick up some high quality companies that were sold off indiscriminately in days following the vote. The MSCI Europe Index gained nearly all of the June drop, rising by...
read moreTop Funds Report July 2016
Download a PDF Copy of this report Britain Votes to Leave EU Market reaction swift and severe in days following. A month later, calmer heads prevail… Unless you’ve been living in a cave, you’ve probably heard by now that residents in the UK voted to leave the European Union by a slim 51.9% to 48.1% margin. Market reaction was swift, with global equity markets, particularly those directly affected by the vote, selling off sharply. Traditional safe haven investments, namely gold and U.S. government bonds rallied. After a couple...
read moreTop Funds Report – June 2016
Download a PDF Copy of this report Fed Stands Pat. Markets Worry over Brexit Worries over interest rates and fallout over potential Brexit increases volatility levels… As the June 23 vote on Britain’s future with the European Union approaches, investors have become increasingly worried, pushing volatility levels higher. The result has been a modest selloff in global equity markets, with the S&P/TSX Composite Index falling nearly 4% from its mid-June high, while the S&P 500 is off around 3%. Understandably, European...
read moreTop Funds Report – May 2016
Download a PDF Copy of this report . U.S. Fed May Move Rates in June Inflation worries more troubling than the prospect of lower global growth… Earlier this week, the U.S. Federal Reserve Board released the minutes from their late April policy meeting, signaling to traders that a June interest rate increase is not out of the question, if economic data supports it. Citing stronger growth numbers, the Fed said they were more concerned about inflation than they were a meaningful slowdown in global economic growth. Traders took this...
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