Don’t worry, be happy….that you don’t own a passive Fund
October Performance (F Series, Net of Fees)
October Highlights
Negatives
- Cyclicals (resources/industrials) sold off on concern that government induced growth could wane as stimulus wears off. Both Funds have limited exposure in these areas.
- Banks fell on US commercial real estate concerns and weak credit demand. No exposure in both funds.
- Earnings are beating on the bottom line but missing on the top line sales/revenue.
Positives
- Non-cyclical areas of the economy are receiving some attention with solid earnings and relative attractiveness. Company and sector selectivity remains key over the next few months.
Best Performers in October
Canadian Fund
o Maple Leaf Foods +18%
o Rogers Communications +5%
World Fund
o Safeway +13%
o Kroger +12%
*** Also, Van Arbor was recently mentioned & quoted in a Reuters article this weekend, which was picked up by the Financial Post, the Calgary Herald, and Forbes.com:
http://www.financialpost.com/news-sectors/story.html?id=2172096
