March 2022 Pricing Commentary

Equity markets during the month of March posted positive returns having “climbed the proverbial wall of worry”.

Specifically, the investor fears of rising interest rates, tightening central bank monetary actions, continued supply chain disruptions, elevated inflation, and the conflict in Eastern Europe did not impede improved stock prices.

All three ABC Funds provided positive performance during March and this is consistent with our optimistic investment outlook for 2022.

Top performing Canadian share holdings for the month included Algonquin Power, Brookfield Infrastructure Partners, Canadian National Railway, and Enbridge. Our leading American equities were Amazon, Apple, Broadcom, Meta Platforms, NVIDIA, S&P Global, Thermo Fisher Scientific, and Waste Management.

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