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Minimizing Risk and Protecting Capital
Minimizing Risk and Protecting Capital
This quarter, the gradual rise of interest rates caused concern for some fixed income investors. With shorter term bond yields rising, longer term bonds have recently become less attractive.
Selecting the Best Ideas
Selecting the Best Ideas
In seeking the best ideas for a concentrated portfolio, Mel mentions how they look to include companies with a strong competitive advantage and management process.
Interest Rates to Blame? Maybe Not
Interest Rates to Blame? Maybe Not
This quarter, Peter discusses how growth has outperformed value and how that affected the North American dividend fund.
Are We Getting Complacent?
Are We Getting Complacent?
Despite geo-political events such as the issues between North Korea and the United States, Tim notes that investor behaviour and market performance have surprisingly remained complacent.
The Mechanics of Downside Protection
The Mechanics of Downside Protection
Fixed income is a key part of any balanced portfolio aiming to reduce volatility in the overall portfolio while still contributing to total return. Listen to Geoff speak about what could pose a challenge to investors in the upcoming year. In this interview, he explains the mechanics of the core plus fixed income component and how it provides downside protection during rising yields.
Shifting Winds: Value to Growth
Shifting Winds: Value to Growth
In recent months there has been a shift from value investing to growth investing due to an artificially low interest rate environment. Mel cautions that while we cannot predict the future, value tends to outperform in the long term. He also discusses the volume of information that investors have access to through traditional and new media and explains Sionna’s approach to reducing the noise.
With Value out of Favour, Look for Opportunity
With Value out of Favour, Look for Opportunity
In our interview with Peter this quarter, he reminds investors that possible short term noise surrounding upcoming interest rate rises should not overshadow a muted long term impact on dividend paying stocks.
No Recession in Sight
No Recession in Sight
Despite the slow-growing economy and a flattening yield curve, Tim notes that a potential North American recession is not coming. The Fed is concerned about inflation levels, he adds, and their gradual and cautious pace of interest rate increases may lead to some “bubbly” areas within the market.
Confidence in the Markets
Confidence in the Markets
Confidence around the world has improved a lot, notes Tim. If this optimism turns into actual growth, he adds, the markets may likely see further growth. In this quarter’s interview, Tim discusses the positioning strategy for the mandates and explains why Mount Lucas is investing in the international and emerging markets and what this means for their portfolios.
Pockets of Value
Pockets of Value
Investor optimism has shifted market performance such that the strength we saw in value stocks last year has since subsided. The markets are generally more expensive today and it is harder to find attractive names, explains Mel.
Surprises Post a Trump Election
Surprises Post a Trump Election
Since the election of Donald Trump as President of the U.S., the performance of the market has surprised observers. This is primarily because investors appear to be ignoring the risks and rewarding the potential positives.
The Impact of Policy and Politics on the Economy – A Distorted View
The Impact of Policy and Politics on the Economy – A Distorted View
Value, as an investment style, has struggled for several years. Mel Mariampillai discusses why this has been the case and how the mandate may react to the trend for pro-growth policies in the U.S.
A Dramatic Reversal of Sentiment
A Dramatic Reversal of Sentiment
In this audiocast, Tim Rudderow discusses the market’s surprising response to the recent U.S. election, and its potential effects on the Global Trend strategy. He also discusses the possible effects of protectionist policies in the U.S. and the potential consequences on international trade deals. He also touches on the consequences of, upward pressure on inflation and its effect on commodities. Finally, Tim gives his perspective on the recent sell-off on bonds.
The Battle for Equilibrium
The Battle for Equilibrium
Tim Rudderow discusses potential impacts of the U.S. election regardless of the outcome. He also talks about changes to the Global Trend model over the past quarter, and how the global oil situation has become the “battle for equilibrium”.
Increased Volatility Creates Value Opportunities
Increased Volatility Creates Value Opportunities
We have seen periods of relative weakness for value stocks over the past 18 months, Teresa Lee gives her thoughts on what’s happening and what it means for investors.
Brexit – What Does it Really Mean to Us?
Brexit – What Does it Really Mean to Us?
Tim Rudderow recounts what’s happened in the markets since Britain voted to exit the European Union on June 23 and discusses its potential implication for interest rates and equity prices.
An Opportunity to Invest in Misunderstood Names
An Opportunity to Invest in Misunderstood Names
Britain’s vote to exit the European Union (Brexit) caused some volatility in the markets as the quarter drew to a close. We talked to Teresa Lee about her thoughts on the situation and what it means for investors.
Where is the Value?
Where is the Value?
In spite of some price volatility over the past few months, there are still sectors of the market where Sionna is uncovering value. This quarter, Teresa discusses why they believe there are opportunities to be found in the Energy and Financial sectors.
Negative Interest Rates in Canada?
Negative Interest Rates in Canada?
As Europe and Japan introduce negative interest rates to help lift their economies, what is the likelihood of negative interest rates for Canada? Ryan shares his perspective on the subject and discusses the short and long-term prospects of rates in Canada
Protecting Downside Risk
Protecting Downside Risk
The Global Trend Strategy has been out of international and emerging markets for some time due to several macro factors. Tim outlines the underlying reasons for staying out of these markets.
A Choppy 2015, Where to in 2016?
A Choppy 2015, Where to in 2016?
Tim reviews some of the more prominent issues that affected the U.S. markets in 2015, and discusses how they are positioning the mandate during this time.
Is the Energy Sector a Value Trap?
Is the Energy Sector a Value Trap?
The Energy sector has witnessed sharp price declines, but is the sector now presenting a value trap for investors? Teresa Lee shares her thoughts on the sector and discusses why they believe there still are opportunities within the sector.
Protection is Never Free
Protection is Never Free
How is the U.S. Federal Reserve’s action on interest rates influencing the markets? Tim Rudderow discusses his view on the subject and explains where he believes the current opportunities lie.
High Concentration in Energy and Financials
High Concentration in Energy and Financials
Ryan Bushell explains why the dividend mandates have a high concentration in the Financials and Energy sectors.
Volatility Not Necessarily a Risk
Volatility Not Necessarily a Risk
Volatility and risk do not necessarily mean the same thing. Teresa Lee explains how the current climate is serving up opportunities to invest in businesses that are undervalued by the market.
A Dividend Strategy is Purpose Driven
A Dividend Strategy is Purpose Driven
Ryan Bushell explains how and why a dividend investment strategy is the only alternative in today’s market for investors looking for a stream of high quality, sustainable income.
Financials and Energy Dominate Strategy
Financials and Energy Dominate Strategy
The Energy and Financial sectors continue to provide tremendous opportunities for investors in the value equity space.
Wide Disparity in Volatility Between Markets
Wide Disparity in Volatility Between Markets
In this episode, we discuss what this means for the Global Trend and the North American Sector Rotation strategies, and how investors are able to benefit from these strategies when markets are choppy.
Potential for Market Correction
Potential for Market Correction
Acadian Asset Management manages the North American Growth and the North American Equity High Income mandates.
Protecting Portfolios on the Downside
Protecting Portfolios on the Downside
Mount Lucas Management is responsible for managing the North American Sector Rotation and Global Trend Strategy mandates.
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