April 2020 Report

SIC Multi Asset Institutional Composite   April 2020 Year to Date SIC Institutional 6.5% -6.8% Benchmark* 6.5% -3.5% * 5% T Bills, 35% Canadian Bond Composite, 20% S&P TSX Composite TRI, 20% S&P 500 C$ TRI, 20% MSCI EAFE (Net) C$ TRI From the aftermath of the...

SIC Investment Outlook for Q2 2020

We Won’t See It in the Economic Data We are often asked how we are analyzing markets in this crisis thrust upon us by COVID-19.  What are the economic indicators that we are closely watching?  What is it in the data that will provide us the confidence that things have...

March 2020 Report

SIC Multi Asset Institutional Composite   March 2020 Year to Date SIC Institutional -9.3% -12.5% Benchmark* -7.3% -9.4% * 5% T Bills, 35% Canadian Bond Composite, 20% S&P TSX Composite TRI, 20% S&P 500 C$ TRI, 20% MSCI EAFE (Net) C$ TRI The rapid spread of...

Another Trying Week

Governments, corporations and individuals struggled again this week as the world worked to find a balance between protecting public health and managing the economic consequences of providing that protection.  Almost no one has witnessed the wide sweeping dislocation...

When the Cure Seems Worse Than the Disease

Here we go again.  Another day of fear, prompting yet another steep sell-off in global stock markets.  Here is our take on the situation: Unlike the 2008 Financial Crisis, the current episode started as a public health issue not an...

February 2020 Report

SIC Multi Asset Institutional Composite  February 2020Year to DateSIC Institutional-4.2%-3.6%Benchmark*-3.9%-2.2% * 5% T Bills, 35% Canadian Bond Composite, 20% S&P TSX Composite TRI, 20% S&P 500 C$ TRI, 20% MSCI EAFE (Net) C$ TRI For market participants,...

Waiting Out the Fear

COVID-19 COVID-19 will most certainly go down in the history books as one of those “out of the blue” events that disrupted global capital markets.  The question on our mind, however, is have authorities over-reacted to the health threat presented by this...

January 2020 Report

SIC Multi Asset Institutional Composite   January 2020 Year to Date SIC Institutional 0.7% 0.7% Benchmark* 1.7% 1.7% * 5% T Bills, 35% Canadian Bond Composite, 20% S&P TSX Composite TRI, 20% S&P 500 C$ TRI, 20% MSCI EAFE (Net) C$ TRI The “Jekyll and Hyde”...