Provisus – Q1 Investment Review
Market Comment – The turbulent start for financial markets so far in 2018 has left few places to hide. Investors have had a lot thrown at them; escalating tensions over global trade, major tech sector wobbles, increasing turmoil at the White House and an onslaught of stock volatility. Certainly, the markets were overly greedy and downturns are normal but what has investors in a tizzy is the abrupt and perhaps savageness of the swings. However, while the ride was bumpy the final outcome was not overly hideous or cataclysmic.
Last year the Canadian economy expanded at a much stronger pace in comparison to the previous year and the outlook for 2018 remains positive…..
Click here to read more: Investment Review – Q1 2018
DM Monthly Report – April 2018
DM SMALL CAP FUND CELEBRATES ITS 7th ANNIVERSARY – Seven years ago, we launched the DM Small Cap Fund to access an important part of the Canadian equity market and to round out diversification within client portfolios. The Fund would be managed according to the investment philosophy guiding all of DM’s equity mandates, but would only invest in publicly traded companies with market capitalizations below $2bn. We viewed this market segment as attractive for a number of reasons:
Growth—smaller companies tend to be at the higher growth stage of their life cycle and can often seize opportunities and react to industry developments more nimbly than larger firms;
Click here to read more: DM-Monthly-Report-Apr-18
Cardinal Quarterly – April 2018
MARKET OUTLOOK – Volatility picked up significantly in the first quarter, helped along by the Trump administration’s tariff threats against China, which raises the odds of a trade war. At the same time, Central banks have continued to move toward more interest rate increases as the economy continues to do well and inflation has trended around the 2% mark in most developed countries. These fears have been balanced by what most investors expect to be a strong earnings season as companies benefit from U.S. tax cuts and a strong economy. The recent market pullback combined with earnings growth has also made valuations look more reasonable. We continue to believe that 2018 will be a positive year for the markets.
Click here to read more: Cardinal Quarterly – April 2018
DM – Q1 Portfolio Commentary
Market Review – After many months of virtually unprecedented tranquility in equity markets, the serene backdrop that investors had been enjoying came to a jarring halt in the opening quarter of 2018. Though attempting to assign specific causes to interim market moves is ordinarily a dubious endeavour, in this case the catalysts for flux were fairly identifiable.
The quarter’s first significant stock price decline began at the start of February, when 10-year Treasury yields in the US made their way up toward 3% and investors began to consider the bond/equity tradeoff for the first time in many months.
Click here to read more: DM-Portfolio-Commentary-Q1-18
