U.S. growth stocks have definitely been the big winners over the past couple of years, and the first half of this year has seen a continuation of that trend. The Nasdaq 100 Index is still ahead 2.2% year-to-date, as of Aug. 28. That’s after the big August market dip, and better performance than most every other major stock index. By tracking the index, theCIBC Nasdaq Index Fund has matched this year-to-date positive performance, while giving investors exposure to U.S. growth stocks.
No question that it’s been rough-and-tumble times for equity investors everywhere lately, but it comes as no surprise for Chip McKinley, a portfolio manager of the global real estate portfolio at Cohen & Steers, Inc. in New York City, NY, sub-manager of CIBC Asset Management Inc.’sRenaissance Global Real Estate Fund. As a result, he was prepared for the worst of the recent market carnage.
By Fund Library News Wire | Friday, August 28, 2015
A week that began with major stock indices dropping hundreds of points ended with those same major stock indices rebounding by an equal amount and more, to close the week with gains overall. Led by energy stocks and financials, the S&P/TSX Composite Index rallied from Monday’s 771-point plunge to gain 2.9% on the week. And the blue-chip U.S. S&P 500 Composite recovered from its 100-point drop on Monday to close Friday with a 0.9% gain on the week. Analysts blamed all the excitement on a combination of China’s currency devaluation the previous week along with its deteriorating economy and volatile stock market, combined with investors’ fears that the U.S. Federal Reserve would still pull the trigger in September on its first interest rate hike since the financial crisis in 2008.
Q – I have a successful dental practice, organized as a corporation, which has allowed me to make maximum RRSP contributions towards my retirement savings. With my personal RRSP contributions maxed out, I’m wondering whether there are other tax-efficient retirement plans available that would let me enhance my retirement savings. I’ve heard about Individual Pension Plans, but I’m not sure they would apply in my case. Could you explain how these work? – S. O., Calgary, Alberta