March 2018 Pricing Commentary

Considering the extreme price volatility of the market we are pleased that four of our ABC Funds are still posting positive year to date investment performance.

Overall, we remain optimistic for the balance of 2018. It is our view that the equity markets are presently oversold given that we expect 15-20% U.S. corporate earnings growth in 2018 and stable to slightly higher interest rates.

Irwin A. Michael Signature

Irwin A. Michael, President
I.A. Michael Investment Counsel Ltd.

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