July was a solid month for equities and the AFINA investment products continued to outperform in 2016. Equity markets returned to a more rational state after the knee-jerk reaction to Brexit in late June.
Given our consistent growth in assets under management since establishing our relationship with NBCN in the summer of 2014, which coincided with the launch of the AFINA Optima10, we are excited to announce that we will be launching additional managed account investment products in the coming months on the NBCN platform.
Our goal is to continue offering value to clients by cutting out costs and passing those savings to investors in the form of lower management fees, while also maintaining our rigorous investment process. Our latest step along that path was the reduction to fees of the AFINA Optima10 in June 2016.
A summary of the AFINA investment product performance is as follows:
- The AFINA Affinity Fund was up +5.7% in July and up +13.2% in 2016. The dividend yield of the AFINA Affinity Fund was 2.70%.
- The AFINA Optima10 was up +6.7% in July and up +7.9% in 2016. The dividend yield in the AFINA Optima10 was 3.99%.
All figures are net of fees and other expenses. Past performance is not indicative of future results. Refer to afinacapital.com/legal/ for full details and disclosures.
(1) The AFINA Affinity Fund LP fully hedges its US dollar exposure. Accordingly, the AFINA Affinity Fund LP benchmark represents the 50% weighting of the S&P 500 Total Return Index in US dollars and a 50% weighting of the S&P/TSX Composite Total Return Index in Canadian dollars.
(2) The AFINA Optima10 Managed Account does not hedge its US dollar exposure. Accordingly, the AFINA Optima10 benchmark represents the 50% weighting of the S&P 500 Total Return Index in Canadian dollars and a 50% weighting of the S&P/TSX Composite Total Return Index in Canadian dollars.