Ivy Quarterly Review | Mackenzie Investments

Ivy Quarterly Review

Highlights from the Fourth Quarter Edition

A resource for both advisors and investors, the Ivy Quarterly gives perspective on the portfolios, investment philosophy and holdings in a comprehensive format. The Ivy Team discusses world markets and where they are finding value today.

Ivy Quarterly map

Entering 2018, we remain focused on what's in the best long-term interest of our clients rather than chase returns during the bull market. While 2017 was a rough year for Ivy in terms of performance, we are constantly careful with our clients' capital regardless of the market environment. Our cash weighting and underweight positions in certain sectors affected overall performance.

US markets had a strong 2017. We participated broadly as expected given our underweight to the US market and the nature of the market move. The market appears to have evolved from one being stubbornly pushed higher by central bank efforts to one that is self-sustaining and accelerating in its upward momentum. Animal spirits have awoken.

In this Ivy Quarterly Review, we examine issues related to prudent investing well into in the second longest bull market in history. Are we approaching the end of the bull, or could it run farther?

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The content of this page (including facts, views, opinions, recommendations, descriptions of or references to, products or securities) is not to be used or construed as investment advice, as an offer to sell or the solicitation of an offer to buy, or an endorsement, recommendation or sponsorship of any entity or security cited. Although we endeavour to ensure its accuracy and completeness, we assume no responsibility for any reliance upon it.

This document includes forward-looking information that is based on forecasts of future events as of September 30, 2017. Mackenzie Financial Corporation will not necessarily update the information to reflect changes after that date. Forward-looking statements are not guarantees of future performance and risks and uncertainties often cause actual results to differ materially from forward-looking information or expectations. Some of these risks are changes to or volatility in the economy, politics, securities markets, interest rates, currency exchange rates, business competition, capital markets, technology, laws, or when catastrophic events occur. Do not place undue reliance on forward-looking information.  In addition, any statement about companies is not an endorsement or recommendation to buy or sell any security.