Adjusting for Positive Performance

Our disciplined strategy and ongoing tactical positioning continue to pass market tests and build generally positive performance. See how this quarter unfolded.

04.30.2018 - Scott Guitard, Vice President, Portfolio Manager

Adjusting for Positive Performance

Major Asset Classes

Fixed Income

Our defensive overweight in fixed income influenced relative performance in the first quarter, as global equities outpaced bond returns. Though the fixed income component experienced slightly negative returns—as bond investors priced in future Bank of Canada (BoC) rate hikes—portfolio returns were in line with the FTSE TMX Canada Universe Bond Index. As inflation remains contained, we expect interest rates to trend higher through 2018, albeit at a slower pace than we’ve seen over the past nine months. Our bias to short-term and investment grade corporate bonds remains in place.

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Digging for Opportunity in Canadian Corporate Bonds


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Volatility Marks Changing Weather for Investors

04.30.2018 Ian Riach, Chief Investment Officer

Volatility spiked in February, reaching an intraday high unseen since the 2008 financial crisis. We look at how a mix of investors helped drive a major theme for Q1.

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