Commentary

Maxam Diversified Strategies Fund – Q1 2018 Commentary

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.

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Maxam Diversified Strategies Fund – Q4 2017 Commentary

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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.

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Maxam Diversified Strategies Fund – Q3 2017

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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,

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Maxam Diversified Strategies Fund – Q2 2017

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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.

June 30,

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Maxam Diversified Strategies Fund – Q1 2017

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The Maxam Diversified Strategies Fund1 gained +2.1% in the month of March and +4.4% for the first quarter of 2017.

Canada’s S&P/TSX Total Return Index gained +1.3% in March and +2.4% for the first quarter of 2017. Strength in the Materials, Industrials and Consumer Discretionary sectors offset weakness in the Energy and Health Care sectors. Following a very strong start to the year,

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