The Mackenzie Ivy Team has introduced more structural downside protection for fixed-income portions of their balanced portfolios to maintain growth potential.
The fourth quarter was an interesting end to an eventful year in U.S. equity markets. A strong finish after a weak start. Total corporate earnings were roughly flat year over year as local currency growth for global corporations was offset by currency and energy and commodity exposed companies across many different sectors saw earnings deteriorate while domestic companies without commodity exposure experienced steady growth.
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.
December 31, 2016 Bookmark the Web Page, Ivy Quarterly Review Add to My Bookmarks
The U.S. market was led by segments of the Technology space and the Materials sector, as concerns over valuations have abated in Technology and the direction of change in commodity markets turned positive. We had little exposure to either of these quarterly market tailwinds, and so the U.S. holdings underperformed.