Fund Library News Wire
| Friday, September 28, 2018
By Mike Keerma
Against a backdrop of rising trade tensions and a 25 basis point increase
by the U.S. Federal Reserve in its federal funds rate, to a target range of
2%-2.25%, the main North American stock indices posted minor losses on the
week and produced uninspiring performance for the month. The
S&P 500 Composite Index
closed Friday with a weekly loss of 0.5% but managed to eke out a 0.4% gain
for the month. For the quarter, the index gained a rather more robust 7.2%.
Nasdaq Composite Index
likewise remained flaccid on the week, with only a 0.7% advance, but edged
down 0.8% in September overall. Still, the tech-weighted index posted a
healthy 7.1% gain in the third quarter. Toronto’s benchmark
S&P/TSX Composite Index, however, showed red across all timeframes, posting a 1% loss on the week,
the month, and the quarter, as a deal with the U.S. on the North American
Free Trade Agreement remained elusive and the energy index lost 6.3% in the
WTI crude oil
gained 3.7% on the week and 5.2% in September, it came up short in the
quarter, with a loss of 1.2%, but remains ahead 21.6% year to date.
also remained in the red for all time frames, losing 4.7% overall in the
* Picton Mahoney debuts three new Alternative funds.
Picton Mahoney Asset Management
announced the addition of three Alternative funds to its lineup. In a
release, the company said the funds use sophisticated hedging techniques
and alternative investing strategies:
Picton Mahoney Fortified Active Extension Alternative Fund
targets volatility similar to traditional equity markets.
Picton Mahoney Fortified Market Neutral Alternative Fund
aims for less volatility and low correlation to traditional equity markets.
Picton Mahoney Fortified Multi-Strategy Alternative Fund
aims for low correlation to traditional balanced or diversified strategies.
* Bridgehouse to merge funds.
Bridgehouse Asset Managers
(the trade name of Brandes Investment Partners & Co.) said it intends
Greystone Canadian Equity Income & Growth Fund
Morningstar Strategic Canadian Equity Fund
on or about Dec. 14, subject approvals.
* New funds by Starlight.
Starlight Investments Capital LP, the new asset manager that is the brainchild of industry veterans Dennis
Mitchell and Graeme Llewellyn, announced the launch of Starlight Global Real Estate Fund and Starlight Global Infrastructure Fund. The funds aim to
provide investors with access to publicly listed global real assets through
concentrated portfolios of high-quality businesses. The mutual funds and
corresponding listed ETFs (trading symbols SCGR and SCGI, respectively)
will be available to investors beginning Oct. 2.
* Desjardins expands RI lineup.
Desjardins Group announced the addition of 11 new responsible investing
funds to its lineup. It adds three funds to its SocieTerra brand:
Desjardins SocieTerra International Equity Fund,
Desjardins SocieTerra Emerging Markets Equity Fund, and
Desjardins SocieTerra Positive Change Fund.
In addition, it intends to add seven new Desjardins RI Low-CO2 ETFs to its stable, with
portfolios that aim for a significantly lower carbon footprint: four
Multifactor, including Canada, USA, Developed (ex USA ex Canada), and
Emerging Markets funds; two cap-weighted Canada and USA funds; and one
Canada active fixed income fund.
Desjardins said it will also soon add the
Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF, which aims to gives investors the opportunity to invest with no exposure
to the traditional energy sector (coal, gas, oil).
Check Fund Library’s
Market Activity page
regularly for active updates on key market indexes and commodities.
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