WINNIPEG, MB, Feb. 2, 2024 /CNW/ – IG Wealth Management (“IG”) today announced that 10 of its investment solutions have won 2023 Fundata FundGrade® A+ Awards. The awards are presented annually to Canadian investment funds that achieve consistently high FundGrade scores throughout the calendar year.
IG Wealth Management Logo (CNW Group/IG Wealth Management)
“We’re proud to have so many of our funds recognized for their performance with these prestigious awards,” said Damon Murchison, President and CEO, IG Wealth Management. “I would like to acknowledge our investment management team and global sub-advisory partners for this outstanding achievement. These awards reflect the team’s ongoing commitment to delivering strong investment returns for our clients that help them reach their financial goals.”
IG’s investment solutions were recognized for investment excellence in the following categories:
INVESTMENT SOLUTION
CATEGORY
iProfile Emerging Markets Private Pool
Emerging Markets Equity
iProfile Fixed Income Private Pool
Global Fixed Income
iProfile Portfolio – Global Equity Balanced
Global Equity Balanced
iProfile Portfolio – Global Fixed Income Balanced
Global Fixed Income Balanced
iProfile Portfolio – Global Neutral Balanced
Global Neutral Balanced
iProfile U.S. Equity Private Pool
U.S. Equity
IG Mackenzie Global Financial Services Fund
Financial Services Equity
IG Mackenzie Global Natural Resources Fund II
Natural Resources Equity
IG Mackenzie Pacific International Fund
Asia Pacific ex-Japan 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 consultants 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 nearly $121 billion in assets under management as of December 31, 2023, 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 $240 billion in total assets under management as of December 31, 2023.
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.
IG Mackenzie Global Financial Services Fund was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Financial Services Equity category out of a total of 47 funds. Performance of Series F for the period ended December 31, 2023 is as follows: 14.39% (1 year), 13.78% (3 years), 12.67% (5 years), 11.53% (10 years) and 12.48% (since inception- July 2013).
IG Mackenzie Global Natural Resources Fund II was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Natural Resources Equity category out of a total of 67 funds. Performance of Series F for the period ended December 31, 2023 is as follows: 7.04 % (1 year), 23.27 % (3 years), 17.34 % (5 years), 7.63 % (10 years) and 7.91 % (since inception- July 2013).
IG Mackenzie Pacific International Fund was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Asia Pacific ex-Japan Equity category out of a total of 32 funds. Performance of Series F for the period ended December 31, 2023 is as follows: 4.80 % (1 year), -2.55 % (3 years), 5.48 % (5 years), 6.44 % (10 years) and 7.03 % (since inception- July 2013).
IG Mackenzie U.S. Dividend Registered Fund was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Global Equity Balanced category out of a total of 704 funds. Performance of Series F for the period ended December 31, 2023 is as follows: 17.35 % (1 year), 8.26 % (3 years), 10.48 % (5 years) and 7.93 % (since inception- January 2015).
iProfile Emerging Markets Private Pool was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Emerging Markets Equity category out of a total of 146 funds. Performance of Series I for the period ended December 31, 2023 is as follows: 7.24 % (1 year), -5.33 % (3 years), 5.13 % (5 years), 6.64 % (10 years) and 7.49 % (since inception- January 2001).
iProfile Fixed Income Private Pool was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Global Fixed Income category out of a total of 219 funds. Performance of Series I for the period ended December 31, 2023 is as follows: 5.39 % (1 year), -0.94 % (3 years), 2.19 % (5 years), 2.89 % (10 years) and 4.22 % (since inception- January 2001).
iProfile Portfolio – Global Equity Balanced was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Global Equity Balanced category out of a total of 704 funds. Performance of Series I for the period ended December 31, 2023 is as follows: 11.83 % (1 year), 5.12 % (3 years) and 7.64 % (since inception- June 2020).
iProfile Portfolio – Global Fixed Income Balanced was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Global Fixed Income Balanced category out of a total of 488 funds. Performance of Series I for the period ended December 31, 2023 is as follows: 7.92 % (1 year), 1.44 % (3 years) and 3.12 % (since inception- June 2020).
iProfile Portfolio – Global Neutral Balanced was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the Global Neutral Balanced category out of a total of 888 funds. Performance of Series I for the period ended December 31, 2023 is as follows: 10.35 % (1 year), 3.82 % (3 years) and 5.96 % (since inception- June 2020).
iProfile U.S. Equity Private Pool was recognized for outstanding fund performance at the 2023 Fundata FundGrade A+ Awards in the U.S. Equity category out of a total of 794 funds. Performance of Series I for the period ended December 31, 2023 is as follows: 22.53 % (1 year), 10.86 % (3 years), 15.06 % (5 years), 13.63 % (10 years) and 6.92 % (since inception- January 2001).
NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
