Nine years in…
The Maxam Diversified Strategies Fund turned nine years old on June 30, 2018. Since its inception the fund1 has generated a total return of +165.7% net of all fees and expenses – equating to an annualized return +11.5%.
The Maxam Diversified Strategies Fund1 declined -2.1% in the first quarter of 2018. Volatility reared its head in the first quarter of 2018. In our commentary we discuss what transpired for the fund over the first few months of the year and how we are positioned for the current market environment.
We are being opportunistic, but patient.
The Maxam Diversified Strategies Fund1 had a strong finish to the year, gaining +4.0% in the month of December. For the 2017 calendar year the fund gained +14.7%. The table below outlines how the Maxam Diversified Strategies Fund performed relative to some Canadian benchmarks in 2017 and since fund inception.
Canadian equities delivered a solid return in 2017 with 10 of 11 industry sectors finishing in positive territory.
The Maxam Diversified Strategies Fund1 gained +2.6% in the month of September, +1.7% for the third quarter and is up +6.9% through the first nine months of 2017.
Equity markets put in a solid showing during Q3 with Canadian, U.S. and most international markets posting gains. The heavyweight Energy and Financial sectors led the way for Canada during the quarter,
The second quarter of 2017 was a successful and eventful quarter for the Maxam Diversified Strategies Fund. The fund delivered a positive return while the Canadian market moved lower, and we reached a significant milestone. First some quick comments on the milestone and then on to the business end of the commentary.
Time flies when you’re having fun.