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Commentaries

30 01, 2024

Alternative Quarterly Commentary – Q4 2023

2024-01-30T20:35:25+00:00

During the fourth quarter of 2023, the MacNicol Investment Team continued to observe a widening gap between the inflation expectations of market participants and both voting and non-voting central bank officials. Catalyzing our concerns that financial markets may have “jumped to conclusions” when it comes to interest rates and a labor market that stands 200 basis points below its long-term (ex-COVID) average and fiscal profligacy that underpins a situation where government spending is leading to unsustainable levels of debt and deficit.

Alternative Quarterly Commentary – Q4 20232024-01-30T20:35:25+00:00
12 12, 2023

December Monthly Commentary

2023-12-14T17:27:44+00:00

In terms of the labor market, job creation has been weak, and vacancies declined further. This led to a slight uptick in the unemployment rate even as wages are still rising by about 4%. More visible job actions at the Canadian banks and other larger companies offer a slanted view on labor as they gain a disproportionate amount of attention from the media.

December Monthly Commentary2023-12-14T17:27:44+00:00
1 11, 2023

Alt Trust Q3 Press Release

2023-12-05T21:34:18+00:00

The MacNicol Alternative Asset Trust earned a 1.4% investment return, net of fees, for the quarter ending September 30, 2023. The investment environment was defined by persistent inflation, resilient economic data, and rising interest rates across the United States and Canada. The fund was mainly higher due to strong private real estate and hedge fund returns. During the third quarter, the Trust realized two notable exit transactions, and made a number of new investments.

Alt Trust Q3 Press Release2023-12-05T21:34:18+00:00
21 08, 2023

The Monthly – August 2023

2023-12-14T17:11:21+00:00

2022 saw most balanced investors schooled in the main constituents of a balanced portfolio (stocks and bonds). Even educated investors had to quickly remind themselves that fixed income securities can lose value and that stocks aren’t the only asset class that can fluctuate every now and again.

The Monthly – August 20232023-12-14T17:11:21+00:00
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