Community Connections - May 2024
Connecting with your community means something different to everyone. It might mean taking time to understand and assist people in need, or it might mean celebrating and enjoying the vibrant arts and culture that exist right in your neighbourhood.
This month we take time to connect with our community and remind ourselves of the importance of the people and places around us.
Cameron Scrivens
Portfolio Manager and President
Our portfolios are well positioned for the current market conditions. While maintaining a conservative stance with a slight underweight in fixed income earlier this month, we recently executed a small tactical asset allocation move. Seizing on the opportunity presented by rising bond yields, we increased our exposure to bonds, reminiscent of the successful strategy in the fourth quarter of 2023. Amid ongoing debates over interest rates, our investment team remains proactive in capitalizing on optimizing the portfolios. Despite a recent mild correction in equity markets due to delayed interest rate cuts (the same reason as behind our successful bond purchases,) we are pleased with our investment performance. Our security selection process continues to contribute to solid outperformance; both when compared to benchmarks and on an absolute basis.
How to Learn More
Over the past month, our relationship team has been busy arranging client meetings, webinars, and planning sessions. Links to two of those webinars are below.
You can also book a private meeting to discuss:
· Changes in capital gains tax rates.
· Adapting your investments to take advantage of future interest rate changes.
· General financial matters.
Our team is here to provide any assistance you need. Feel free to reach out anytime.
Save the Date
Canadian Brass is one of the most popular brass ensembles in the world today.
Your summer social calendar is probably already filling up, so we want to post a few basic details of our client appreciation night coming in late July. We look forward to sharing an evening of food and music with you. This year we will be enjoying “Canadian Brass.”
When: July 25, 2024 – Evening
Where: Koerner Hall, Bloor and Spadina, Toronto
What: Dinner, followed by a performance of Canadian Brass
We will have more details in the weeks ahead, but for now, please ‘save the date.’
In the Community
Recently, our team spent a half-day volunteering at a local foodbank, learning about their challenges in meeting the needs of the neighbourhood.
The Fort York Food Bank, located on College Street near Toronto’s Kensington Market, serves a very eclectic community. We chose this location because our Chief Compliance and Operating Officer Aaron Coholan has a long history with the centre. He was a weekly volunteer there when he lived in the neighbourhood and still comes back to visit when he can. For some of our other staff, this was their first visit to a food bank.
“We were out on the sidewalk disposing of some empty cardboard boxes when a lady passing by stopped to ask if the centre was closing,” recalls Godfrey Yu, a Wealth Planner at JCIC. “She was extremely relieved to know that it wasn't and thanked us for volunteering. That’s when I realized how important a service the food bank is.”
Michelle Burandt, a Relationship Manager at JCIC, said that seeing the sheer volume of food that is required to meet the demand was an eye-opening experience. “It was rewarding to be there and spend some time helping those in need,” she added.
If you want to donate to, or volunteer at, the Fort York Food Bank you can contact them here.
Learn More by Watching These Webinars
In this video Cameron Scrivens (Portfolio Manager and President) and Kai Lam (Chief Investment Officer) walk you through the performance of JCIC's portfolios for the first three months of 2024. They also provide their perspective on what the rest of the year will hold.
If you are self-employed you are probably eligible to set up your own Personal Pension Plan. In this video, Godfrey Yu and JP LaPorte explain how you could save thousands of dollars in tax obligations as you save for retirement.
As your portfolio managers, our goal is to make investing easier for you. Whether you have questions, need assistance, or simply want to chat about the financial markets, please reach out to us. We're always glad to engage in conversations about your investment journey and market trends.
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Disclosure:
Although we obtain information contained in our newsletter from sources we believe to be reliable, we cannot guarantee its accuracy. The opinions expressed in the newsletter are those of JCIC Asset Management, its editors and contributors, and may change without notice. Any views or opinions expressed in the newsletter may not reflect those of the firm as a whole. The information in our newsletter may become outdated and we have no obligation to update it. The information in our newsletter is not intended to constitute individual investment advice and is not designed to meet your personal financial situation. It is provided for information purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor or a group of investors. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. We strongly advise you to discuss your investment options with your Relationship Manager prior to making any investments, including whether any investment is suitable for your specific needs.
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