Good afternoon,

 

As promised, I have uploaded updated performance figures to the end of 2021. They can be accessed here Q4 2021 Update. I’ve mentioned already that it was an easy year to be an investor, as accounts did very well as you can see.

 

2022 looks to be somewhat more challenging and your upcoming January statements are likely to reflect that – they will likely be down 2-3% from where they were at the end of December. There was a lot of uncertainty about the timing and frequency of upcoming interest rate hikes, both in Canada and the US. In the short term, this lead to negative volatility. However in the big picture, rising interest rates are a reaction to an economy that is healthy. This is of course an oversimplification but also my way of saying I’m not worried about the state of our portfolios. We’ve recently had companies begin to report their annual earnings and that news, along with guidance for the upcoming year, has generally been positive. I suspect although we might not see the fantastic portfolio growth we’ve had over the last 3 years, that we still are in decent shape at this point.

 

After our more in-depth update from earlier this month, I’ll keep this note short and sweet. If you did have any additional questions, please reach out at anytime.

 

Best regards and thank you again for your continued support of our group.

 

George Wright, CIM, FMA