Invesco Canada blog

Insights, commentary and investing expertise

Softwood lumber saga: Why duties may not be as bad for investors as feared


May 23, 2017
Subject | Active management | Trimark

In a continuation of a long-running trade dispute that dates back to 1982, Canadian softwood lumber exports to the United States were recently hit with an average countervailing duty of 19.88%, with additional anti-dumping duties to be announced in June (expected to be at least another 5%).1 This follows a 10-year period under a Softwood Lumber Agreement that required much less onerous export taxes from Canadian producers.

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It takes discipline and patience to navigate current markets


September 24, 2014
Subject | Active management | Trimark

Normally, when you’re managing a balanced fund, if equities are expensive, you would expect to find some value on the bond side, and vice-versa. But in the current market, both equities and bonds are generally expensive. This has made it more difficult to find compelling opportunities that meet our strict criteria for Trimark Income Growth Fund. I’m not saying that there are no opportunities out there, but there are certainly fewer of them available.

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The importance of discipline in an exuberant market


June 11, 2014
Subject | Active management | Trimark

It’s been just over five years since the market bottomed in March 2009, during which time the S&P 500 Index is up 180% and the S&P/TSX Composite Index is up 95%. The environment for value investors has gone from one in which we were tripping over tremendous opportunities to one where we are struggling to identify enough compelling ideas to be fully invested.

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The advantages of a flexible mutual fund mandate


May 24, 2013
Subject | Active management | Trimark

In my last post, I mentioned our mandate’s flexibility as a key advantage for Trimark Canadian Endeavour Fund. I haven’t talked about this enough and in this type of market environment, I believe a flexible mutual fund mandate is a very valuable tool for our portfolio management team.

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