James Telfser, Managing Partner and Portfolio Manager at Aventine Asset Management, provides his outlook on Canadian Equities and his reasoning for investing defensively in this current market environment.
In case you missed it, Aventine Portfolio Manager, John Kim, made an appearance on BNN Bloomberg’s Market call on June 21st to share his market outlook. We thought you might enjoy this short clip.
The Aventinne Canadian Equity Fund (“ACE Fund”) finished the month of March at +1.6% and the quarter at +8.3%. We saw normalization in the equity markets to start 2019 as many companies returned to trading on fundamentals rather than fear.
To say 2018 was a tumultuous year in the markets would be an understatement, with the S&P 500 losing 13.5% in Q4, the biggest quarterly loss since the summer of 2011, when U.S. debt was downgraded from AAA and European Debt Crisis was peaking.
The ACE finished 2019 with a +1.1% return in December which compared quite favourably to the monthly return of -5.4% for the S&P/TSX Composite Total Return Index (“TSX”).