{"id":9231,"date":"2023-05-09T15:16:38","date_gmt":"2023-05-09T19:16:38","guid":{"rendered":"https:\/\/www.batirente.com\/?p=9231"},"modified":"2023-05-09T15:21:22","modified_gmt":"2023-05-09T19:21:22","slug":"our-funds-at-a-glance-q1-2023","status":"publish","type":"post","link":"https:\/\/www.batirente.com\/en\/our-funds-at-a-glance-q1-2023\/","title":{"rendered":"Our funds at a glance"},"content":{"rendered":"

Each quarter, B\u00e2tirente\u2019s Investment Strategy Manager, Jean-Fran\u00e7ois Dumais, shares our funds\u2019 performance results with you and offers his comments regarding financial markets.\u00a0This issue looks at the first quarter of 2023.<\/p>\n

How did the economy perform?<\/strong>
\nCentral bank interest rate hikes had an impact on worldwide inflation, which has been decreasing rapidly. For example, in Canada, this rate has been on the decline, dropping from its peak of 8.1% in June 2022 to 5.2% by March 31st. It seems that this monetary tightening is coming to an end. The Bank of Canada put the rate hike on hold as of January.<\/p>\n

The recent bankruptcy of Silicon Valley Bank, difficulties experienced by several regional American banks and rescue of Credit Suisse by UBS (two major Swiss banks) resulted in market volatility in March and are a good argument for ending monetary tightening policies.<\/p>\n

The more difficult monetary conditions will likely unleash a recession in the second half of 2023, but this should be limited on either side of the border primarily due to the labour shortage.<\/p>\n

Expectations of the impending end to this money tightening and a moderate recession have brought a positive outlook regarding bond and equity markets.<\/p>\n

How have the markets performed overall?<\/strong>
\nBond and equity markets ended the first quarter of the year on a positive note.<\/p>\n

The FTSE Canada Universe Bond Index had a 3.1% return. As for equity markets, the Canadian Equity Index posted a performance of 4.6%, while all-country equities yielded a return of 7.2%. Meanwhile, the Global Small Cap Equity market ended the quarter with a 4.2% result (all data in Canadian dollars).<\/p>\n

Sectors performed quite differently compared to last year at this time. In fact, the technology sector is now one of the leaders of the pack despite lagging far behind in 2022. Conversely, the energy sector delivered the weakest results even though it was at the top of the heap last year.<\/p>\n

What were the repercussions for B\u00e2tirente Diversified Funds?<\/strong>
\nGood! B\u00e2tirente Diversified Funds had a positive performance, posting results ranging between 3.1% and 5.7% according to their risk profile, i.e., from lower risk to higher risk. The right positioning of mandates entrusted to experienced managers helped generate returns that exceeded benchmarks (see definition below) varying from 0.3% (Income Fund) to 0.5% (Energetic Fund). This was mainly due to the fact that B\u00e2tirente had very little exposure to the bank collapse mentioned earlier (see section on the economy). Also worth noting is the healthy performance of the Presima Listed Real Asset ESG Fund mandate (real estate and infrastructure) compared with its benchmark.<\/p>\n

How did Equity Multi Funds perform in Q1 2023?<\/strong>
\nWith its exceptional performance of 10.0%, the B\u00e2tirente Global Small Cap Equity Multi Fund took centre stage! The latter posted a return of 5.8% above its benchmark owing to minimal exposure to the banks\u2019 underperformance. B\u00e2tirente\u2019s Global Equity Multi Fund had a total return of 6.5%, while its Canadian Equity Multi Fund advanced by 3.5%.<\/p>\n

What about fixed income Multi funds?<\/strong>
\nThese funds also yielded positive returns. The dramatic drop in interest rates contributed to the B\u00e2tirente Treasury Multi Fund\u2019s 1.9% performance and the 3.2% return for B\u00e2tirente\u2019s Bond Multi Fund. Performance was in line with benchmarks.<\/p>\n

Any advice for B\u00e2tirente members?<\/strong>
\nIn periods of volatility, always stay the course and look to the long term! For B\u00e2tirente, now more than ever, diversification is important for generating strong long-term returns in constantly evolving markets. Despite the challenging period in 2022, we met our goal of protecting the value of our members\u2019 portfolios. The right positioning of mandates entrusted to experienced managers helped limit the negative impacts on our members\u2019 capital. In fact, we are proud to share that all B\u00e2tirente Diversified Funds beat their benchmark portfolio. As the market quickly regains its strength in 2023, our Diversified Funds continue to outperform benchmarks.<\/p>\n

To learn more about B\u00e2tirente Funds and get updated performance information, see the\u00a0B\u00e2tirente Funds<\/a>\u00a0of our website.<\/p>\n

*Jean-Fran\u00e7ois Dumais has worked as an Investment Strategy Manager at B\u00e2tirente since 2019. He holds a Master of Business Administration (MBA) in finance. He has nearly 20 years\u2019 experience in financial markets.<\/em><\/p>\n

 <\/p>\n

\n\t\t\t\t\t
Benchmark index: What\u2019s that?<\/strong>\u00a0When we share the performance of the various B\u00e2tirente Funds with you each quarter or on an annual basis, we\u2019re measuring their performance in relation to benchmark indices. B\u00e2tirente entrusts mandates to managers, who choose different portfolios from benchmark indices, with the goal of yielding greater returns.<\/p>\n

Why is this important?<\/strong>\u00a0Having a benchmark index for the performance achieved by our Funds makes it possible to determine, at least in part, whether the latter are performing well. Clearly, the aim is to achieve a performance that exceeds the benchmark index, even when this involves negative returns, as we\u2019ve seen recently. A Canadian large-cap equity portfolio will quite frequently be compared to the benchmark, which is called the \u201cS&P\/TSX Composite.\u201d For example, in 2022, the B\u00e2tirente Canadian Equity Multi Fund achieved a return of -1.3%, when the benchmark S&P\/TSX Composite Index performance was -5.8%.<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Each quarter, B\u00e2tirente\u2019s Investment Strategy Manager, Jean-Fran\u00e7ois Dumais, shares our funds\u2019 performance results with you and offers his comments regarding financial markets.\u00a0<\/p>\n

This issue looks at the first quarter of 2023.<\/p>\n","protected":false},"author":3,"featured_media":8308,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-9231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-your-money"],"acf":[],"yoast_head":"\nOur funds at a glance - B\u00e2tirente<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.batirente.com\/en\/our-funds-at-a-glance-q1-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Our funds at a glance - B\u00e2tirente\" \/>\n<meta property=\"og:description\" content=\"Each quarter, B\u00e2tirente\u2019s Investment Strategy Manager, Jean-Fran\u00e7ois Dumais, shares our funds\u2019 performance results with you and offers his comments regarding financial markets.\u00a0 This issue looks at the first quarter of 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.batirente.com\/en\/our-funds-at-a-glance-q1-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"B\u00e2tirente\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/batirente\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-09T19:16:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-09T19:21:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.batirente.com\/wp-content\/uploads\/2022\/08\/Our-funds_600-x-400.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyne Clermont\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Batirente\" \/>\n<meta name=\"twitter:site\" content=\"@Batirente\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Evelyne Clermont\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.batirente.com\\\/en\\\/our-funds-at-a-glance-q1-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.batirente.com\\\/en\\\/our-funds-at-a-glance-q1-2023\\\/\"},\"author\":{\"name\":\"Evelyne Clermont\",\"@id\":\"https:\\\/\\\/www.batirente.com\\\/#\\\/schema\\\/person\\\/66c0d10676e27280fc75c5e5282d9c8f\"},\"headline\":\"Our funds at a glance\",\"datePublished\":\"2023-05-09T19:16:38+00:00\",\"dateModified\":\"2023-05-09T19:21:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.batirente.com\\\/en\\\/our-funds-at-a-glance-q1-2023\\\/\"},\"wordCount\":853,\"publisher\":{\"@id\":\"https:\\\/\\\/www.batirente.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.batirente.com\\\/en\\\/our-funds-at-a-glance-q1-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.batirente.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Our-funds_600-x-400.jpg\",\"articleSection\":[\"Your money\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.batirente.com\\\/en\\\/our-funds-at-a-glance-q1-2023\\\/\",\"url\":\"https:\\\/\\\/www.batirente.com\\\/en\\\/our-funds-at-a-glance-q1-2023\\\/\",\"name\":\"Our funds at a glance - 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