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 – April 2016
Download a PDF Copy of this report . Second Quarter Starts Strong With energy and commodities on the rebound, global markets rally off February bottoms… After a rough start to the year, it looks like the global equity markets have found some solid footing. Since mid-February they have been moving higher, thanks in large part to a sustained rally in the price of oil. On February 10, oil hit a year to date low, closing at $26.21. Since then, it has rebounded nicely, hitting a 2016 high of $42.74, a rise of more than 63%. The S&P/TSX...
read moreTop Funds Report – March 2016
Download a PDF Copy of this Report Markets Rally Higher on Oil Energy looks to find some stability. Potential for more volatility remains… Canadian equity markets have been on the rebound since mid-January. On January 20, the S&P/TSX Composite closed at 11,843.11, and since then has gained more than 15%, closing at 13,621.3 on March 17. Perhaps not coincidentally, it was also on January 20 that saw what now looks like the start of a decent recovery in the price of oil. After closing at $26.55, oil rallied nicely,...
read moreTop Funds Report – February 2016
. Download a PDF Copy of this report . . Rocky Start to 2016 Volatility remains high and markets on a wild ride, testing investor patience… As much as 2015 was a tough year for investors, the first few weeks of 2016 have been even more challenging. Equity markets have been hit hard, selling off sharply, and in recent days, bouncing off lows to recover some of the drawdowns. The S&P/TSX Composite Index was down nearly 13% in the first two weeks of the year, but has fought back nicely, and at the close of business on February 18, was down...
read moreTop Funds Report – January 2016
Download a PDF Copy of this report 2015 was a Year to Forget Volatility returned with a vengeance, dampening investor confidence… 2015 was one of the more challenging years in recent memory. It had a little bit of everything for investors, but perhaps the most impactful was the return of extreme market volatility. Global equity markets were largely flat in U.S. dollar terms. The S&P 500 gained a modest 1.4%, while the MSCI EAFE Index was down by 0.4%. However, when you factor in the sharp decline in the Canadian dollar, the...
read moreTop Funds Report – December 2015
Download a PDF Copy of this report Fed Moves on Rates Zero interest rate era is over with quarter point increase in rates… After months of speculation, the U.S. Federal Reserve Board increased interest rates by a quarter point, ending practically seven years of near zero rates. Initial market reaction was positive, with North American indices rallying sharply higher after the announcement. Unfortunately, the honeymoon was short lived, with markets selling off in the days following. In her comments, Fed Chair Janet Yellen...
read moreTop Funds Report – November 2015
. Download a PDF copy of this report . . Equities Rebound in October Expecting volatility in bonds as December Fed meeting approaches… After five consecutive months of negative returns, Canadian stocks bounced back, posting a modest 2.0% gain in October. Other global equity markets followed suit, with the S&P 500 gaining 6.3% in Canadian dollar terms, while the MSCI EAFE Index rose by more than 5.3%. Gains would have been higher, had it not been for a rise in the Canadian dollar, which was up on stronger oil prices. In U.S....
read moreTop Funds Report – October 2015
. Download a PDF copy of this report . Volatile Third Quarter end with losses Volatility expected to remain high in near term… The ugliness and volatility that started in the summer continued through September, as most major indices finished in negative territory. The MSCI EAFE Index dropped by 5% in U.S. dollar terms, as weakness in Japan and Europe weighed. The S&P 500 lost 2.5%, but when the falling value of the Canadian dollar is considered, the loss was just over 1% in Canadian dollar terms. Canadian equities struggled on a...
read moreTop Funds Report – September 2015
. Download a PDF copy of this report . Fed Stands Pat on Rates Global uncertainty causes Fed to keep rates on hold… Going into the third quarter, many had expected that the U.S. Federal Reserve would begin hiking interest rates starting at their September meeting. All signs supported this view – the jobs picture is progressing nicely, consumer spending is on the rebound, and other economic indicators show that the recovery continues, albeit at a rather modest pace. Things changed in mid-August after the People’s Bank of China surprised...
read moreTop Funds Report – August 2015
. Download a PDF copy of this report . Lower Dollar Boosts Global Equity Gains Dollar continues its slide on lower rates and cloudy outlook on oil… Unless you held Chinese equities or Canadian small caps, July turned out better than many had expected. Most major indices finished in positive territory, with European shares leading the way. The MSCI Europe Index gained 7.9% in Canadian dollar terms, more than doubling its 3.1% rise in U.S. dollars. The Canadian dollar dropped by more than 4% after the Bank of Canada Governor...
read moreTop Funds Report – July 2015
. Download a PDF copy of this report – Bank of Canada Cuts Rates Economic data remains weak. Further cuts remain on the table… With the Canadian economy continuing to struggle, Bank of Canada Governor Stephen Poloz cut the Bank’s key overnight lending rate by 0.25% to 0.50% on July 15. Further, the Bank cut its forecast for the Canadian economy, with GDP now expected to be a mere 1.1% for 2015, nearly half its original estimate. It was long thought that the economic hit from the collapse in oil prices would be more than offset by...
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