PIM: SRI Core Income and Growth Portfolio
Paul Borisoff - Nov 02, 2017
The SRI Core Income and Growth Portfolio* was up 3.9% in October – and is now up 11.8% in 2017. In comparison our benchmark was up 3.7% in October and is now up 9.3% in 2017. Over the most recent 12-month rolling period the portfolio is up 13.6% compared to our benchmark which is up 12.3%.
* 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) bounced back 1.6% in October – keeping with its recent zig zag pattern month-to-month. Year-to-date this market is now up 2.1%, while over the last 12-months it is down 0.5%. The S&P/TSX Composite Total Return Index was up 2.7% in October – and is now up 7.1% in 2017 and 11.3% over the last year. The leader last month though was the MSCI World Net (USD) Index which was up 5.4%, and now up 13.6% in 2017, and 18.1% over the last year after translated into Canadian dollars.
The Canadian dollar slid back to $0.7759 CAD/USD at the end of October from $0.8018 at the end of September boosting returns on many of our non-Canadian assets.
Asset Allocation – October 31st, 2017:
4.1% Cash, 15.8% Fixed Income, 29.2% Canadian Equity, 50.9% Global Equity.
Our PH&N Community Values Fund (Series F) was recently merged with the RBC Jantzi Global Equity Fund – and then renamed the RBC Vision Global Equity Fund (Series F). The MER on this position is 1.00% and the Fund’s investment objective is to invest in equity securities of companies throughout the world following a socially responsible approach to investing.
As of September 30th, this Fund had 99.3% of assets positioned in Global Equities with top weightings as follows: 57% U.S., 7.2% Japan, 6.9% U.K., 4.8% Germany and 4.4% Netherlands. Top 5 Sectors are: Financials: 21.9%, Information Technology: 17.4%, Health Care 15.9%, Industrials 15.8% and Consumer Discretionary 10.4%. Since adding this Fund to the portfolio in June 2016 it is up 24.5% as October 31st, 2017.
Please do not hesitate to contact me if you have any questions or concerns.
Paul J. Borisoff
Senior Vice President,Portfolio Manager, Senior Investment Advisor
Canaccord Genuity Wealth Management
609 Granville Street, Suite 2200, Vancouver, BC V7Y 1H2
T: 604.643.7083 | TF: 1.800.663.1899| F: 604.601.5942
E: email@example.com | borisoffcoxwealth.com