Annual Review 2020
“Unprecedented” is likely the most overused word to describe 2020, but with good reason. There is no better way to describe all that transpired this year. In just the last nine months, we have…
Our Quarterly and Annual REsults
Quarterly and Annual Reports
Access our record of reports to learn about our performance and our views and analysis of the market.
Third Quarter 2020
The world’s economies continue to recover following the unprecedented lockdown orders in the spring, and equity markets have broadly regained the losses sustained during the nadir in March. While the stock indices themselves have…
Second Quarter 2020
Months after lockdowns were first imposed in response to the COVID‐19 pandemic, countries around the world have slowly begun to emerge from hibernation. While the public health consequences of the virus have gradually become…
First Quarter 2020
Over the past few weeks, our lives and the lives of those all over the world have been disrupted by the novel coronavirus, or COVID‐19, in ways we could never before have imagined. In…
Annual Review 2019
As the 2010s ended, stock markets around the world closed off on a high note. In local currency terms, the S&P/TSX Composite, the S&P 500 and the MSCI EAFE returned 23%, 31% and 22%…
Second Quarter 2019
Two years after long‐term government bond yields began to rise from historic lows, rates have fallen again. The 10‐year U.S. Treasury bond yield recently fell below 2% while the 10‐year Government of Canada bond…