TheFidelity Small Cap America Fund is a concentrated
mid-cap-focused U.S. equity fund that continues to deliver strong risk-adjusted returns year-in, year-out for investors, with 3-year and 5-year annualized
performance of over 20% respectively. The fund has also produced strong calendar-year performance, and hasn’t had a losing year since 2008. Here’s a closer
look at the fund along with my comments on its outlook.
“Hot summer streets, and the pavements are burning” begins the 1983 hit song, “Cruel Summer,” by British pop band Bananarama. Investors similarly fear a
scorching summer in financial markets. Sources of uncertainty are clearly numerous, ranging from the increasingly theatric U.S. elections to implications
of “Brexit” to the timing of a Fed rate hike (although policy announcements are becoming a bit like Groundhog Day – with Federal Reserve Board Chair Janet
Yellen popping her head out of the hole hoping to raise rates, only to back away each time).
Mawer Canadian Equity Fund
is the only pure Canadian equity mutual fund (at least 90% of its equity holdings domiciled in Canada) that has earned a Fundata FundGrade A+™ Award for outstanding performance every year since the Award’s inception in 2011.
Incredibly, the fund has achieved an annualized return of 9.55% since its launch in June 1991, easily earning a place within the ranks of the
top-performing mutual funds in Canadian history. Here’s a look at what makes this winner tick.
In 1930, the U.S. Congress passed the Smoot-Hawley Tariff Act. Its main goals were to protect American jobs and shield U.S. farmers from foreign
competition. The men whose names were attached to the bill were Republicans: Reed Smoot, a senator from Utah, and Willis Hawley, a congressman from Oregon.
At the time the measure was being debated, just as the Great Depression was taking hold, Mr. Hawley predicted the bill would usher in “a new era of
prosperity.” Does any of this sound familiar? It should. It’s exactly the same rationale that Republican presidential nominee Donald Trump has been using
very effectively to rally voter support.
By Mike Keerma
* Sizzlin’ summer stock markets
* Horizons launches risk parity ETF
The major North American stock indices racked up their fourth consecutive week of gains, as the S&P 500 Composite Index closed the week at a record high
2,175, for a weekly gain of 0.6%. The Nasdaq Composite Index
posted a 1.4% weekly advance. Toronto’s benchmark S&P/TSX Composite Index rallied during the week to its
highest closing value in a year, climbing to a 0.8% gain on the week and 12.2% advance for the year to date.