May 2019 Portfolio Management Team Update
Market & Economic Environment: Global equities added to their stellar first-quarter gains in April, with the TSX Composite, S&P 500 and Nasdaq Composite reaching new highs in the month to complete one of the fastest market rebounds on record. The TSX rose 3.0%, bringing its gains for the year to 15.8%, led by the Consumer Discretionary (+7.0%), Information Technology (+6.4%) and Financials (+5.2%) sectors, while Real Estate (-2.8%) and Materials (-2.5%) lagged the index. The S&P 500 advanced 3.9% in April for year-to-date gains of 17.5%, while the Nasdaq surged 4.7% for YTD gains of 22.0%. (Data Source: FactSet)
Our Strategy: Investor sentiment has been buoyed so far in 2019 by dovish central banks, easing trade tensions and solid corporate earnings. Last month, the Bank of Canada abandoned its rate-hike bias, bringing its policy outlook in line with the Federal Reserve and other major central banks. With the TSX near record highs despite signs that the Canadian economy is slowing down, investors appear to be unconcerned about this divergence and remain optimistic about growth prospects even as the housing market slows down markedly. With the month of May marking the start of the six-month “Sell in May and go away” period when stocks have traditionally floundered, the Portfolio Management Team (PMT) intends to deploy cash balances in client accounts opportunistically upon any market pullback.
Please contact any member of the PMT if you have any questions or concerns regarding your accounts.
This information has been prepared by Luft Financial. Opinions expressed in this article are those of Luft Financial only and do not necessarily reflect those of iA Private Wealth. Furthermore, this does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.
How do we elevate your wealth?
It begins with understanding your needs and creating a comprehensive and tailored financial plan to help reduce tax, manage risk and grow your portfolio over the long term. Learn more about how we help you achieve financial security and peace of mind.
News & commentary
April 2025 Portfolio Management Team Update
April 2025 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth April 16, 2025 SUMMARY Market Review: Most global indices declined in March to cap a challenging quarter, before President Trump’s reciprocal tariffs announced on April 2 triggered the biggest slide in U.S. markets since the 2020 pandemic. The […]
Read more
March 2025 Portfolio Management Team Update
March 2025 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth March 25, 2025 SUMMARY Market Review: North American indices fell in February on mounting concerns about the impact of a global trade war. The selloff intensified into March, triggering a 10% correction in the S&P500 that wiped out […]
Read more
February 2025 Portfolio Management Team Update
February 2025 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth February 25, 2025 SUMMARY Market Review: Global equities began the year positively with solid returns in January, but volatility in recent weeks underscores the risks that lie ahead. The TSX rose 3.3% last month, trading at a record […]
Read more