AGF Investments Inc. (AGF) is pleased to announce today that two of the mutual funds it manages were recognized at the 2020 Canadian Refinitiv Lipper Fund Awards:
Refinitiv Lipper Fund Awards 2020 Winner Canada – AGF U.S. Small-Mid Cap Fund Series MF, Best Fund over 3 years, US Small/Mid Cap Equity category
Refinitiv Lipper Fund Awards 2020 Winner Canada – AGF U.S. Small-Mid Cap Fund Series MF, Best Fund over 5 years, US Small/Mid Cap Equity category
Refinitiv Lipper Fund Awards 2020 Winner Canada – AGF Global Convertible Bond Fund Series MF, Best Fund over 3 years, High Yield Fixed Income category
Refinitiv Lipper Fund Awards 2020 Winner Canada – AGF Global Convertible Bond Fund Series MF, Best Fund over 5 years, High Yield Fixed Income category
AGF U.S. Small-Mid Cap Fund Series MF received this honour for the second year in a row. The Fund’s objective is to obtain superior capital growth. It invests primarily in shares of small and medium companies with superior growth potential in the U.S.
The investment objective for AGF Global Convertible Bond Fund Series MF is to seek to generate attractive long-term returns through interest income and capital appreciation. The Fund will invest primarily in global convertible bonds issued by entities domiciled or conducting business anywhere in the world.
“We are honoured to receive this recognition from the Refinitiv Lipper Fund Awards,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer. “This achievement is a testament to our disciplined approach to deliver consistently strong, risk-adjusted investment performance for our clients.”
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With over $36 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
About the Refinitiv Lipper Fund Awards
The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. The highest 20% of funds in each category are named Lipper Leaders and receive a rating of 5, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2 and the lowest 20% are rated 1. Lipper Leader Ratings are subject to change monthly. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.
AGF Global Convertible Bond Fund (MF Series):
AGF Global Convertible Bond Fund (MF Series) was awarded the 2020 Refinitiv Lipper Fund Award in the High Yield Fixed Income category for the three- and five-year periods out of a classification total of 57 and 49 funds, respectively, for the period ending July 31, 2020. The corresponding Lipper Leader Consistent Return ratings of the fund for the same period are as follows: N/A (one year), 5 (three years) [546 funds], 5 (five years) [367 funds], and N/A (10 years).
The fund’s performance for the period ending October 31, 2020 is 20.3% (one year), 9.6% (three years), 8.2% (five years), N/A (10 years) and 6.9% (since inception on January 8, 2015).
The AGF U.S. Small-Mid Cap Fund (MF Series):
The AGF U.S. Small-Mid Cap Fund (MF Series) was awarded the 2020 Refinitiv Lipper Fund Award in the US Small/Mid Cap Equity category for the 3- and 5-year periods out of a classification total of 25 and 23 funds, respectively, for the period ending July 31, 2020. The corresponding Lipper Leader Consistent Return ratings of the fund for the same period are as follows: N/A (one year), 5 (three years) [445 funds], 5 (five years) [293 funds], and 2 (10 years) [105 funds].
The fund’s performance for the period ending October 31, 2020 is 29.9% (one year), 18.5% (3 three years), 15.1% (5 five years), 14.5% (10 years) and 10.6% (since inception on June 16, 1993).
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
™ The “AGF” logo and “Invested in Discipline” are registered trademarks of AGF Management Limited and used under licence.
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.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.