February 2018 Investment Performance

February 2018 Investment Performance

February was a wild month for equity markets with the S&P 500 hitting a low that was almost 12% below its January high. While we put some cash to work during the correction, we remain defensively positioned as valuations are still not back in our sweet spot and equity markets will likely continue to be choppy into the spring. The Optima10 has a 24% cash weighting while the Affinity has a 52% cash weighting.

An overview of the performance of our actively-managed products is as follows:

  • The AFINA Optima10 was down 1.7% in February, and is down 0.3% in 2018 compared to the benchmark return of 0.0%.
  • The AFINA Affinity was down 0.9% in February, and is up 0.1% in 2018 compared to the benchmark return of 0.0%.


Instruments (% return) Feb 2018 2018 2017 2016
AFINA Affinity (0.9) 0.1 2.1 20.6
AFINA Optima10 (1.7) (0.3) 3.3 23.9
Benchmark (1) (1.2) 0.0 11.4 14.8

As of February 28, 2018. All figures are net of fees and other expenses. Past performance is not indicative of future results. Refer to https://www.afinacapital.com/legal/ for full details and disclosures.
(1) The benchmark represents a 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.