Fund Updates

Oct-19 2019

Q3 2019 GLOBAL EQUITIES UPDATE: TRICK OR TWEET

Global equity markets were mixed in Q3 2019 with moderate gains in the US and a sharp rise in Japan offsetting declines in Asia. Ripple effects of the US-Sino trade war, Brexit and political unrest in Hong Kong further dampened investor confidence and caused companies to keep investments on hold. Overall, these intensifying political uncertainties, along with President Trump’s daily tweets, translated into high volatility across all asset classes over the three-month period.

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Oct-19 2019

2019 FIXED INCOME UPDATE: THE STORY CONTINUES

The return of supportive monetary policies dominated fixed income markets during last six months ending September 30th 2019. So, with a sudden dovish shift initiated at its March meeting, the US Federal Reserve has been driving risk appetite in the global markets once again. In July, the Fed cut its main interest rate for the first time in a decade (followed by a second cut in September) and this prompted other central banks to follow suit with the European Central Bank notably restarting its bond repurchase programme and announcing new monetary support measures.

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Oct-19 2019

Q3 UPDATE: ASIA PACIFIC AND FAR EAST EQUITIES

Asian equities fell nearly 3% in Canadian dollar terms in Q3, as investors adopted a risk-off attitude and instead preferred developed market equity exposures. This was due to mounting fears over the outlook for global growth, intensifying US-China trade issues and, of course, the political and social unrest in Hong Kong. These protests caused Hong Kong to be the weakest market of Q3, though the ASEAN nations also struggled.

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Sep-19 2019

The Pound Paradox

As the Fund invests solely in sterling denominated assets, it has not reaped recent rewards for holding assets in other currencies. In the three month’s ending 31 August 2019, the Fund returned 2.5% compared to the IA Mixed Investment 0-35% Shares sector average return of 3.1%. Even though the Fund has not benefitted from owning dollars and other currencies during sterling’s volatile summer, it continues to perform in line with expectations.

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Sep-19 2019

MULTI-ASSET: MOVERS AND SHAKERS

Global markets broke new records this summer with sterling plunging on no-deal Brexit fears and many government bond yields, particularly in Europe, dropping into negative territory. These new lows were fuelled mainly by dovish shifts at major central banks. The US Federal Reserve and the European Central Bank, as well as central bankers from China, Australia and New Zealand promised ‘accommodation policies’ to try to stimulate slower growing economies.

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Jul-19 2019

ASIA PACIFIC AND FAR EAST EQUITIES

Asian equities fell slightly in the second quarter of 2019. In local currency terms, Australia was the strongest market as investors reacted positively to the return of the Liberal-National coalition government, particularly with regards to banks and other financial stocks.

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Jul-19 2019

FIXED INCOME: STRANGER THINGS

Monetary policy continues to dominate as we hit the year’s half-way point: the Fed has been driving risk appetite once again in the global markets due to its (as well as the European Central Bank’s) dovish switch which has resulted in an unconventional phenomenon of equities and bonds rallying alongside each other.

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Jul-19 2019

Q2 2019 UPDATE: ASIA PACIFIC AND FAR EAST EQUITIES

Asian equities fell slightly in Canadian dollar terms in the second quarter of 2019. However, this was largely driven by CAD strength over the three month period and they remain amongst the strongest performing markets year-to-date.

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Jul-19 2019

LF Canlife Diversified Monthly Income Fund launch

Canada Life Investments is pleased to announce that today it is launching the LF Canlife Diversified Monthly Income Fund, a diversified portfolio of income-generating assets which include global company shares, international government and corporate bonds as well as property.

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Jun-19 2019

LF Canlife Sterling Liquidity Fund Update: Lib and let die

We all know how events have a way of creeping up on us: birthdays, Christmas, Money Market Reform (earlier this year) and now the end of the London Interbank Offered Rate (LIBOR). While the infamous reference rate doesn’t officially become extinct until the 1st  of January 2022, we need to look at what liquidity or pricing issues might occur during this immense transition away from it to alternative risk-free rates.

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Apr-19 2019

Global Equities: Fast and Furious

The US Federal Reserve’s sudden dovish shift prompted a dramatic U-turn in the global equities market resulting in the best start to a year for a very long time. Stock markets quickly climbed back up to where they were before the Q4 sell-off even though economic indicators continued to deteriorate and GDPs growth forecasts were lowered.

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Apr-19 2019

Q1 2019 UPDATE: SEA CHANGE FOR BONDS

The dynamics of the fixed income market completely changed during Q1 mainly in response to the US Federal Reserve’s dovish policy shift. The hold on interest rate hikes this quarter meant investors were again satisfying their thirst for yield by indiscriminately buying duration and going down the rating spectrum as curves flattened and higher beta bonds outperformed.

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Apr-19 2019

Q1 UPDATE: ASIA PACIFIC AND FAR EAST EQUITIES

Following a difficult end to 2018, equities rallied strongly in the first three months of 2019, as investors took a more positive view on ongoing macroeconomic and geo-political issues. In particular, there was encouraging news-flow surrounding the US-China trade negotiations.

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Apr-19 2019

Multi-Asset Q2 2019 Outlook: On the Horizon

Although the markets turned a different direction after the stormy end of Q4 2018, the same underlying risks have not changed. The US Federal Reserve’s sudden shift to a dovish monetary policy might be fuelling market rallies but this U-turn was more about financial market worries than real economic ones and the big question now for fund managers is whether there will be a recession in 2019 or 2020.

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Apr-19 2019

Managed 20%-60% Fund: Multi-Asset's multiple attractions

On March 22nd 2019 Canada Life Investments launched the LF Canlife Managed 20%-60% Fund, a low-cost managed fund of funds focused on long term capital growth.

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Mar-19 2019

Canada Life Investments to launch LF Canlife Managed 20%-60% Fund

Canada Life Investments is pleased to announce an extension of its suite of low-cost mixed asset solutions with the introduction of the LF Canlife Managed 20%-60% Fund later this month, subject to regulatory approval. This is the London-based firm’s eighth managed multi-asset fund and a reflection of the increasing investor demand for stable returns and steady income.

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Feb-19 2019

Tantalising Timing

After a brutal end to 2018, China’s stock market has been one of the most attractive places to invest in so far this year. Stocks became extremely cheap amidst ongoing trade tensions with the US and a wave of weakening macroeconomic data releases, but valuations for many names remain relatively attractive by global and historical standards. Considering the Chinese New Year celebrations earlier this month for the Year of the Pig, we thought it made sense to discuss the changing backdrop in China.

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Feb-19 2019

Q4 2018 UPDATE: CONTINENTAL DIVIDES

Bond and equity markets experienced an exceptionally turbulent fourth quarter of 2018 thanks to a combination of geopolitical, macroeconomic and monetary policy shifts. It was the worst global stock market sell-off since the financial crisis and more deteriorating Purchasing Managers’ Index data (PMIs) published in December also suggested that global growth is slowing.

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Jan-19 2019

Q4 2018 GLOBAL EQUITIES UPDATE: MARKETS SHIFT GEARS

2018 was an extraordinary year of ups and downs for all assets classes and thanks to a combination of geopolitical, macroeconomic and monetary policy shifts, global equities went wild in Q4. It turned out to be the worst quarterly stock market sell-off since the financial crisis and was especially volatile in December in reaction to the US government shutdown and the US Federal Reserve’s interest rate ambitions.

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Jan-19 2019

Q4 Update: All eyes on China

The last quarter of 2018 witnessed extreme volatility in the global markets and Asia was no exception. Investor sentiment was driven by Sino-US trade war rhetoric and a stream of weak economic data from China. The Chinese policy makers re-iterated their pro-growth stance and beefed up efforts to stabilize the economy by continued easing of monetary policy as well as increasing fiscal stimulus.

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Feb-19 2019

Brexit nerves

The end of 2018 was rocky for UK equities thanks to the ongoing Brexit deadlock. Whilst more domestic sectors, such as retailers, have been amongst the weakest performers, the overall UK Equity market remains unloved. UK Equity Fund outflows were aggressively negative during 2018 and Global Funds continue to be generally considerably underweight the UK.

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Feb-19 2019

Corporate Credit in Q4

The fourth quarter of 2018 was particularly volatile for sterling credit, as risk assets across both equity and bond markets sold off due to ongoing geo-political and macroeconomic uncertainties. These included Brexit deadlock, tighter financial conditions, the US-Sino trade war and further softness within the European economy. The pain was particularly prevalent in Germany, where there was a steep deterioration in the manufacturing PMI thanks primarily to the slowing auto sector.

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Jan-19 2018

Drawing up a Drawdown plan

When it comes to investing in funds at drawdown, investors often lean towards low risk. This is because low risk funds typically carry lower volatility, which leads to lower fluctuations of returns. They can also help manage sequencing risks and lead to a more stable monthly income. This might seem like a sound retirement plan, but it is not necessarily sustainable. The reason being is that lower risk often leads to lower returns and this is especially true if the drawdown pot is on the smaller side. To offset this concern, one might reconsider and go for higher risk asset classes.

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