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Mulvi Monthly Takeaway- January

January Market Themes (click for PDF chart package) 

  1. Global markets “melted up” in January, while rising yields hurt fixed income performance. The US dollar slid against most major currencies (but not bitcoin!)
  2. Small Caps unperformed in January. Much like 2017, large cap and growth remain the place to be.
  3. What is happening with Canada? Canada stocks simply did not participate in the global equity rally, with weakness broad across sectors.

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This document may contain certain forward-looking statements. These statements may relate to future events or future performance and reflect management’s current expectations. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. Although the forward-looking statements are based upon what management believes to be reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Neither the Funds nor their respective managers assume any obligation to update or revise any forward-looking statement to reflect new events or circumstances. Actual results may differ materially from any forward-looking statement. Historical results and trends should not be taken as indicative of future operations. The Fund is not guaranteed, its value changes frequently and past performance may not be repeated. Unless otherwise indicated and except for returns for period less than one year, the indicated rates of return are the historical annual compounded total returns including changes in security value. All performance data take into account distributions or dividends paid to unit holders but do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns.

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