Investment Commentaries

The stock market in September was notably volatile, softening initially due to concerns over interest rates, geopolitics, weak third quarter seasonality, and the upcoming U.S. presidential election. However, a significant turnaround occurred in the...

August was an extraordinarily volatile month for global equity markets, influenced by the unwind of the Japanese carry trade, continuing geopolitical tensions, and the looming November 5th U.S. Presidential election. The significant appreciation of...

July was a mixed month for equity market performance after achieving respectable returns during the first half of 2024. Understandably, in the context of a slower summer trading period there was significant common share price volatility. Market...

In June, North American equity markets displayed mixed results, with the US stock market significantly outperforming its Canadian counterpart. All three ABC Funds not only exceeded their benchmarks but also reached new all-time highs during the...

The month of May brought forward a significant recovery in equity markets, with global stock indices rebounding from April’s declines. Additionally, all three of our ABC Funds outperformed their benchmarks in May, setting new all-time highs....

After five consecutive months of upward momentum, equity markets declined in April. This result was influenced by several factors including interest rate uncertainty, sticky inflation, geopolitical tensions, and general investor angst. Despite these...

Equity markets in March closed out the first quarter of 2024 on a strong note. This advance enabled the ABC Funds to rally to new all-time highs. The month was characterized by broad-based gains which encompassed a wide range of sectors and...

February was another positive month for equities, with global indices continuing their ascent. Our three ABC Funds not only outperformed their respective index benchmarks but also achieved new all-time highs, marking a continuation of our...

All three ABC Funds outperformed their respective benchmarks in the month of January, powering forward to new all-time highs. The equity markets continued their upward trajectory, buoyed by strong performances from large capitalization stocks....

The remarkable stock market rally that began in late autumn extended into December, ending 2023 with strong performances across all major equity indices. Our ABC Funds capitalized on this positive momentum, adding to their meaningful year-to-date...

The month of November provided a remarkable stock market recovery, as common stocks rebounded strongly, underscoring their resilience and continued upward momentum. All three ABC Funds exceeded their index benchmarks during the month, but more...

Navigating through the month of October, the markets faced a number of challenges, including rising yields, persistent inflation, and geopolitical turmoil. Despite these conditions, our three ABC Funds outperformed their respective benchmarks. The...

Historically, September has never been an easy month for financial markets. It was no different for the month of September 2023. Market headwinds included the growing investor recognition of “higher for longer” interest rates, as well as...

Our three ABC Funds generated positive returns during the month of August despite all major stock indices closing the month in negative territory. This outperformance was driven by a number of our common stock holdings including Amazon, Mastercard,...

The strength of the equity market in the first half of 2023 continued into the month of July. Interestingly, this advance confounded many of the investment pessimists who have prognosticated an impending economic recession, given that both the Bank...

North American equity markets extended their upward ascent during the month of June and ended the first half of 2023 well into positive territory. This appreciation occurred despite continued central bank interest rate hikes, economic uncertainty,...

Our three ABC Funds significantly outperformed their index benchmarks during the month of May. This positive result can be largely attributed to the Funds’ portfolio overweighting in two top performing sectors – information technology and...

During the month of April, the North American equity markets continued their impressive climb upwards, defying the predictions of many investment pessimists who had forecasted lower corporate earnings results, higher U.S. Federal Reserve...

In March, global securities markets were influenced by substantial financial and economic news flow, such as the unforeseen regional banking crisis, which triggered massive deposit withdrawals resulting in a concerted rescue action by several big...

Despite the early month optimism, North American equity indices slid into negative territory by the end of February. This decline was mostly due to lingering concerns about elevated inflation, U.S. 10 year treasury bond yields creeping towards 4%,...

The month of January produced remarkable investment performance, carrying forward a significant recovery from the lows of 2022. In retrospect, common stocks ended December unduly depressed and this past month’s extraordinary recovery was a...

Volume 34, Issue 1