PIM: SRI Core Income and Growth Portfolio

Paul Borisoff - Feb 02, 2018

PIM: SRI Core Income and Growth Portfolio – February 2nd, 2018

 

The SRI Core Income and Growth Portfolio* was up 0.3% in January – compared to our benchmark which was up 1.0%.  Over the most recent 12-month rolling period the portfolio is up 13.2% while our benchmark is up 11.6%.

* These returns are reported as a composite, time-weighted, rate-of-return (gross of fees, net of transaction charges) for all accounts in this mandate.  Long-Term Returns/Benchmark Numbers will be reported in our Quarterly Updates.

 

The Canadian bond market (FTSE/TMX Canada Universe Bond Index) was down 0.8% in January – leaving it now up 1.8% over the last year.  The Canadian stock market (S&P/TSX Composite Total Return Index) also had a rough start to 2018 – ending down 1.4% in January.  Over the last year it is up 6.7%.   The MSCI World Net (USD) Index had a strong start to 2018 though with a 3.1% gain in January – leaving it now up 18.8% over the last twelve months.

 

Note, the Canadian dollar move higher again in January - from $0.7948 CAD/USD at year-end to $0.8119 which once again put pressure on our Global Equity positions.

 

Asset Allocation – January 31st, 2018:

4.9% Cash, 15.9% Fixed Income, 28.8% Canadian Equity, 50.3% Global Equity.

 

Recent Updates:

We did not make any changes to the portfolio in January.

 

Please do not hesitate to contact me if you have any question or concerns. 

 

Sincerely,

 

Paul J. Borisoff

Senior Vice President

Portfolio Manager, Senior Investment Advisor