Daily Net Asset Values

Updated January 26, 2012

Pooled Funds
Canadian Bond Fund Profile
Class A
Class D
Class E
Class F
 10.3541
10.3522
10.3344
10.3460
Canadian Balanced Fund Profile
Class A
Class B
Class D
Class E
Class F
 14.5683
14.5513
14.5505
14.6077
14.5904
Canadian Small Cap Fund Profile
Class A
Class B
Class C
Class E
Class F
Class I
 23.2879
23.3542
23.3756
23.3038
23.3248
23.2293
Canadian Equity Fund Profile
Class A
Class B
Class D
Class E
Class F
Class Z
 9.9728
10.0100
9.9931
10.0020
10.0230
11.1465
Canadian Income Fund Profile
Class D
Class E
Class F
 11.0244
11.0024
11.0157
Global Equity Fund Profile
Class A
Class B
Class C
Class E
Class F
Class I
 9.0253
9.0162
9.0073
9.0332
9.0402
8.9889

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Wendy Booker-Urban
Vice-President, Client Services
BA (Econ), University of Manitoba (1989)

Balancing Yield and Risk

January 20th, 2012

Another week, another round of bad news headlines:  “France loses their coveted AAA rating after a downgrade by Standard and Poor’s.”  “Greek default is inevitable after negotiations with lenders breakdown.”  “Euro Woes to temper growth:  Bank of Canada.”  All the more reason to hold 10-year Canadian government bonds priced to ...

Ryan Watson
Research Associate
BA (Econ), University of British Columbia
MBA, Sauder School of Business (2009)

What is it you do again? - Revisited

January 13th, 2012

With every New Year comes the opportunity to create annual goals, or resolutions. British media recently published survey results that revealed “despite 2.6 million people starting diets last Tuesday…this weekend 92 per cent of dieters gave up, shunning exercise and gorging on comfort food.” This survey suggests that individuals are ...

Leigh Pullen
Chairman & Chief Investment Officer
CFA (1975), CFA Institute

2012 - Gosh!

January 6th, 2012

We’re a touch atremble.  In reading financial and geo-political prognostications, we sense most columnists feel a dead body may evidence more life than the economy or the markets in 2012.  “Scouring the economic and financial landscape for bright spots can also be something of an exercise in futility,” says Alan ...

Joe Jugovic
President
CFA (2001), CFA Institute;
BA (Econ), University of Calgary (1994)

STOCKS - "BAH! HUMBUG!"

December 16th, 2011

Sorry for the less than cheery title to our final letter of the year, but how else do you describe the mood?  The year started out with a lovely first quarter rally in the S&P/TSX Composite Index of 6%, but by October the Canadian market was down by more than ...

Darren Dansereau
Vice-President & Portfolio Manager
CFA (2001), CFA Institute;
BComm, University of Alberta (1996)

Are we there yet? - Nope

December 9th, 2011

The European leaders have been meeting over the past two days to again ‘solve’ the crisis in Europe.  It is the 4th meeting this year and the 15th meeting held in the last 23 months. However, a viable long-term plan has not been unveiled.  To make matters worse, this week ...

Clement Chiang
Research Associate
BEng (2005), Carleton University
MBA (2009), Sauder School of Business

The Only Constant in Life is Change

December 2nd, 2011

How true and apparent is this quote in the context of today’s global economy.  A call for change is happening right before our eyes, and rightly so.  Change is needed to fix the global imbalances that have allowed profligate nations to run for far too long.  Balance sheet excesses have ...

Ian Cooke
Vice-President & Portfolio Manager
CFA (2004), CFA Institute;
BComm, University of Calgary (2001)

Painted with the Same Brush

November 25th, 2011

Herd mentality is in full force. The chart below shows that the correlations between large cap American stocks have reached record levels at nearly 70% compared to historic averages closer to 26%.  Perfect correlation of 100% would imply all stocks would move in the same direction together.

Mark Dyki
Research Associate
BComm, University of Calgary (2008)

What I've Learned - Mark Dyki

May 28th, 2010

To me, monitoring the process of learning is like trying to watch the hands of a clock move. I'm not insinuating that I am a slow learner but more to the point that progress cannot be appreciated until you remember a snapshot ...