Mike Wallberg, CFA, MJ

The definition and scope of #privatecredit are both evolving every day. Looking forward to discussing some of the interesting trends we’ve recently been seeing.

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IIAC Newsletter - May 13, 2024 - Domestic News STRONG INTEREST IN SUSTAINABLE FIXED INCOME FUNDS: MORNINGSTAR Canadian investors showed a renewed interest in sustainable investment options as 2024 got underway, according to Morningstar’s Canada Sustainable Funds Landscape - Q1 2024 Report (published May 9, 2024). Fixed income funds saw net inflows of $193.3 million in the first three months of 2024, marking the fifth consecutive quarter of inflows, and underscoring “the growing investor confidence in fixed income as a stable and promising category within the sustainable finance landscape”. In contrast, sustainable equity funds saw a net outflow of $186.9 million, marking the second consecutive quarter of outflows... Read more: https://lnkd.in/gnQ3fT-D --- STEEP INCREASE IN USE OF LEVERAGE IN BOND AND REPO MARKETS FLAGGED: BANK OF CANADA The Bank of Canada’s Financial Stability Report (published May 9, 2024) noted an increase in asset managers’ leverage over the past 12 months, led by an increase in hedge fund repo borrowing...“The large degree of leverage employed can leave hedge funds vulnerable to changes in the price difference between the underlying securities as well as to sudden changes in the availability and cost of repo financing”, the report said... Read more: https://lnkd.in/gNvM-Su8 #newsletter #domestics #finance #news #education #highlights #interest #bond #repo #markets #canada

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One of the most insightful CFA Institute webinars I've watched - bringing together professional money management, organisational #culture and #investment decision-making Hosted by Frank Fabozzi and featuring T. Rowe Price's Sébastien Page and his team. Couple of key takeaways: 1. You can be right and still lose money. The Venn diagram overlap between being right and making money is much smaller than generally understood. 2. Portfolio management isn’t gymnastics. You don’t get extra points for difficulty. https://lnkd.in/ghrBZ_d8

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Yesterday, I joined BNN’s “The Close” with andrew bell. We discussed how some of the best Fixed Income opportunities might be right here in Canada. While Nvidia and AI stocks are still grabbing headlines, the Canadian Bond Market is quietly performing in the background. We covered topics like inflation outlooks and curve steepening and even highlighted a top pick in emerging markets. This chat has insights for many investors. Most importantly, I emphasized why Canadian fixed income is set to continue to deliver solid performance in the coming months. Thanks to Andrew and the BNN Bloomberg team for an engaging discussion. While everyone’s focused on the Euro Cup (go Germany!), in the World Cup of Fixed Income investing, Canada could bring home the trophy! https://lnkd.in/gV6JDJnV #euro24 #bonds #Canada #SouthAfrica #fixedincome

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A new report by Quinn+Partners signals an important shift in the appetite of institutional investors in Canada to increase their allocations to impact investing. Following global trends, the engagement and participation of institutional investors will spur the growth of this rapidly evolving field in Canada, predicted to triple in value to $46 billion by 2030. Prominent Canadian Institutions contributed to the research, which highlights the need to increase the supply, size, and diversification of impact investing opportunities, as well as accelerate capacity building and collaboration. Our team at TwinRiver Capital is excited to work with our partners, the J.W. McConnell Foundation and the Trottier Family Foundation, to make it easier for institutional investors, foundations, and family offices to choose impact as part of their portfolios. Check out the report here: https://lnkd.in/ezvdJdhd #twinrivercapital #impactinvesting #impinvcanada #sustainability #socialfinanceforum

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Cidel is excited by the latest research on the opportunities for impact investing in Canada and what our Partner TwinRiver Capital is leading in this space. A new report by Quinn+Partners  signals an important shift in the appetite of institutional investors in Canada to increase their allocations to impact investing. Please visit this link to learn more https://lnkd.in/enMxw2D6 #twinrivercapital #impactinvesting #impinvcanada #sustainabilityhashtag #socialfinanceforum

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Private debt has emerged as a compelling alternative investment option, offering unique opportunities for diversification and potential downside protection. Dive into our paper, which provides a digestible roadmap and assists in tailoring exposures based on specific risk and return objectives. #PrivateDebt #investment #markets

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I view this pullback as an #opportunity. Earnings continue to come in strong and will be the ultimate arbiter of this #bullmarket. It was great being back on BNN Bloomberg amid this turbulent week to discuss where I see opportunity and why we investors need to keep calm. Check out the interview where we also discuss whether high-for-longer rates are really such a headwind for high-quality companies. (Spoiler: I don’t think they are). https://lnkd.in/equP4ZQq

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Michael Augustine, Managing Director, Head of Fixed Income & Asset Liability Management, TD Asset Management, along with his team, joined us to open the market and celebrate the launch of the six TD Target Maturity Bond Exchange-Traded Funds (TD TMB ETFs): TD Target 2025 Investment Grade Bond ETF (TSX: TBCE) TD Target 2026 Investment Grade Bond ETF (TSX:TBCF) TD Target 2027 Investment Grade Bond ETF (TSX:TBCG) TD Target 2025 U.S. Investment Grade Bond ETF (TSX:TBUE.U) TD Target 2026 U.S. Investment Grade Bond ETF (TSX:TBUF.U) TD Target 2027 U.S. Investment Grade Bond ETF (TSX:TBUG.U) Each of the TD TMB ETFs invests primarily in a portfolio of investment-grade corporate bonds. Learn more: http://ms.spr.ly/6046cfoy4

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With yields rising and equities selling off, the loonie dropped over half a percent, returning back to the 1.37 region ahead of tomorrow’s key data releases. https://loom.ly/l8-1B70 #canadiandollar #cad #loonie #equities #fxmarkets #foreignexchange #financialservices #fxtraders

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Is it ever too early to integrate ESG into business operations? Join me today at the Together | Ensemble Conference at the University of Waterloo, where my panel will explore why it's never too early to incorporate ESG principles. We will discuss how ESG integration enhances fundraising, performance, and risk management from seed to scale. Panel Topic: Integrating ESG From Seed to Scale: Is it Ever too Early to Integrate ESG? #sdgs #impactinvesting #ESG #ESGprinciples MEDA (Mennonite Economic Development Associates) Mastercard Foundation Africa Growth Fund

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How will interest rates affect your portfolio? Watch our Quarterly Commentary to learn more. Matthew Evans, CFP®, CIM® and Lorenzo Pederzani, CFA, CFP®, FCSI® Portfolio Managers at Westmount Wealth Management Inc., discuss how equity markets responded positively to the unexpected prospect of fewer rate cuts, with significant returns in Canadian and U.S. markets. Inflation is slowly returning to target levels, though housing inflation remains a concern, especially in Canada, where household debt is notably higher than in the U.S. This financial landscape has led to a revised expectation of fewer and delayed rate cuts.

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How will interest rates affect your portfolio? Watch our Quarterly Commentary to learn more. Matthew Evans, CFP®, CIM® and Lorenzo Pederzani, CFA, CFP®, FCSI® Portfolio Managers at Westmount Wealth Management Inc., discuss how equity markets responded positively to the unexpected prospect of fewer rate cuts, with significant returns in Canadian and U.S. markets. Inflation is slowly returning to target levels, though housing inflation remains a concern, especially in Canada, where household debt is notably higher than in the U.S. This financial landscape has led to a revised expectation of fewer and delayed rate cuts.

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The types of investments allowed in TFSAs, RRSPs, FHSAs and more could soon change: Finance is consulting on the qualified investment rules. Of note, the consultation asked if the rules should favour Canadian investments (foreign content limit, anyone?!), and whether crypto-backed assets should be considered qualified investments. Thanks to Carl Hinzmann for sharing your perspective. #budget2024

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Where should the largest investors put their money, in their country or abroad?

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The J.D. Power 2024 Canada Self-Directed Investor Satisfaction Study Award results are coming! The study evaluates key satisfaction drivers and firm performance among two groups of investors: - Investors seeking guidance (those who don’t have a dedicated financial advisor but do have access to interact with a registered investment professional) - True do-it-yourself investors (those who do not interact with professional advisors). The study measures self-directed investors’ satisfaction with their investment firm based on performance in seven dimensions: - Trust - Digital channels - The ability to manage wealth how and when I want - Products and services - Value for fees - People - Problem resolution. ⭐️ Stay tuned for the results to be released on May 9! Learn about the study: https://hubs.la/Q02wrf-v0 #Investing #CustomerSatisfaction #Financial Advisors #Investor

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The J.D. Power 2024 Canada Self-Directed Investor Satisfaction Study Award results are coming! The study evaluates key satisfaction drivers and firm performance among two groups of investors: - Investors seeking guidance (those who don’t have a dedicated financial advisor but do have access to interact with a registered investment professional) - True do-it-yourself investors (those who do not interact with professional advisors). The study measures self-directed investors’ satisfaction with their investment firm based on performance in seven dimensions: - Trust - Digital channels - The ability to manage wealth how and when I want - Products and services - Value for fees - People - Problem resolution. ⭐️ Stay tuned for the results to be released on May 9! Learn about the study: https://hubs.la/Q02wrgNs0 #Investing #CustomerSatisfaction #Financial Advisors #Investor

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