WINNIPEG, MB, Jan. 27, 2023 /CNW/ – IG Wealth Management (“IG”) today announced that five of its investment solutions have won 2022 Fundata FundGrade® A+ Awards. The awards are presented annually to Canadian investment funds that achieve consistently high FundGrade scores throughout the calendar year.
“We are honoured to win these prestigious awards,” said Damon Murchison, President and CEO, IG Wealth Management. “These recognitions are a validation of the ongoing efforts of our investment team and network of leading global asset managers to deliver strong investment returns for our clients to help them achieve their financial goals, whether it be the purchase of a home, a child’s education or their desired lifestyle in retirement.”
IG won awards for the following funds:
Fund
Category
iProfile Emerging Markets Private Pool
(winner 2nd consecutive year)
Emerging Markets Equity
iProfile Fixed Income Private Pool
(winner 2nd consecutive year)
Global Fixed Income
iProfile U.S. Equity Private Pool
U.S. Equity
IG Mackenzie Global Natural Resources Class
Natural Resources Equity
IG Mackenzie U.S. Dividend Registered Fund
Global Equity Balanced
About IG Wealth Management
Founded in 1926, IG Wealth Management is a national leader in delivering personalized financial solutions to Canadians through a network of advisors located across Canada. In addition to an exclusive family of mutual funds and other investment vehicles, IG offers a wide range of other financial services. IG Wealth Management has $110.8 billion in assets under advisement as of December 31, 2022 and is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada’s leading diversified wealth and asset management companies with approximately $249 billion in total assets under management and advisement as of December 31, 2022.
About Fundata Canada Inc.
Fundata Canada Inc. has been providing data aggregation and dissemination services to the Canadian media and financial marketplace since 1987. Fundata is a major provider in the distribution of fund and stock information in Canada.
About the Fundata FundGrade A+ Rating
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
iProfile Emerging Markets Private Pool Series I was recognized for outstanding fund performance at the 2022 Fundata FundGrade A+ Awards in the Emerging Markets Equity category out of a total of 158 funds. Performance for the fund for the period ended December 31, 2022 is as follows: -15.64% (1 year), 0.37% (3 years), 2.62% (5 years), 6.04% (10 years) and 7.50% (since inception- January 2001).
iProfile Fixed Income Private Pool Series I was recognized for outstanding fund performance at the 2022 Fundata FundGrade A+ Awards in the Global Fixed Income category out of a total of 286 funds. Performance for the fund for the period ended December 31, 2022 is as follows: -7.80% (1 year), -0.51% (3 years), 1.41% (5 years), 2.52% (10 years) and 4.17% (since inception- January 2001).
iProfile U.S. Equity Private Pool Series I was recognized for outstanding fund performance at the 2022 Fundata FundGrade A+ Awards in the U.S. Equity category out of a total of 836 funds. Performance for the fund for the period ended December 31, 2022 is as follows: -10.80% (1 year), 9.67% (3 years), 10.86% (5 years) and 14.26% (since inception- March 2013).
IG Mackenzie Global Natural Resources Class Series A was recognized for outstanding fund performance at the 2022 Fundata FundGrade A+ Awards in the Natural Resources Equity category out of a total of71 funds. Performance for the fund for the period ended December 31, 2022 is as follows: 15.74% (1 year), 21.06% (3 years), 11.00% (5 years), 3.73% (10 years) and 6.25% (since inception- October 2002).
IG Mackenzie U.S. Dividend Registered Fund Series A was recognized for outstanding fund performance at the 2022 Fundata FundGrade A+ Awards in the Global Equity Balanced category out of a total of 735 funds. Performance for the fund for the period ended December 31, 2022 is as follows: -12.70% (1 year), 4.08% (3 years), 4.42% (5 years) and 5.23% (since inception- January 2015).
Commissions, fees and expenses may be associated with mutual fund investments. Read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns as of December 31, 2022, including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, values change frequently and past performance may not be repeated.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets climbed to their best week of the year.
“It’s been almost a complete opposite or retracement of what we saw last week,” said Philip Petursson, chief investment strategist at IG Wealth Management.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
While last week saw a “healthy” pullback on weaker economic data, this week investors appeared to be buying the dip and hoping the central bank “comes to the rescue,” said Petursson.
Next week, the U.S. Federal Reserve is widely expected to cut its key interest rate for the first time in several years after it significantly hiked it to fight inflation.
But the magnitude of that first cut has been the subject of debate, and the market appears split on whether the cut will be a quarter of a percentage point or a larger half-point reduction.
Petursson thinks it’s clear the smaller cut is coming. Economic data recently hasn’t been great, but it hasn’t been that bad either, he said — and inflation may have come down significantly, but it’s not defeated just yet.
“I think they’re going to be very steady,” he said, with one small cut at each of their three decisions scheduled for the rest of 2024, and more into 2025.
“I don’t think there’s a sense of urgency on the part of the Fed that they have to do something immediately.
A larger cut could also send the wrong message to the markets, added Petursson: that the Fed made a mistake in waiting this long to cut, or that it’s seeing concerning signs in the economy.
It would also be “counter to what they’ve signaled,” he said.
More important than the cut — other than the new tone it sets — will be what Fed chair Jerome Powell has to say, according to Petursson.
“That’s going to be more important than the size of the cut itself,” he said.
In Canada, where the central bank has already cut three times, Petursson expects two more before the year is through.
“Here, the labour situation is worse than what we see in the United States,” he said.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
— With files from The Associated Press
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
