Market insight and a highlight of Cabana’s year-to-date performance
Market insight and a highlight of Cabana’s year-to-date performance.
Cabana’s six portfolios range from “Conservative” to “Aggressive” and include an income strategy portfolio. Performance is as of market close July 10, 2017 and is presented net of advisory fees and commissions.
Performance was mixed over the past week. The Moderate and Conservative Portfolios were up from +.16% (Conservative) to +%.12(Moderate). The Balanced, Growth, and Aggressive were all slightly down. The Alpha Income was down -.32% due to the bounce in yields we saw this week, as well as the strong ISM number. Remember that the Alpha Income portfolio is made up of income producing assets, which at least in the short term, are negatively impacted by rising rates.
Over the past week we saw the Nasdaq continue to try and bounce back from a 5% correction. This has enabled the broader markets to avoid a similar pullback up until now. The ISM number for June was really impressive and may put a floor under any selling that is to occur this summer. It will also keep the Fed on track to raise rates and begin selling some of its massive bond portfolio acquired over the past eight years. How this effects fixed income assets (and equity assets) remains to be seen, as it is really unprecedented. The bottom line is that earnings drive equity prices and if we can finally begin to see some real GDP growth, equities should do well. Europe has been the leader so far in this category, but maybe the US is catching up. It is great to see that, despite turmoil among elected officials, the can-do spirit of “we the people” always prevails. We remain cautiously bullish.
Year-to-date net-of-fees performance:
ALPHA INCOME: 2.85%
Performance is presented net of advisory fees and commissions (Conservative – Aggressive is presented net of 3% fees from January 1, 2017 – February 28, 2017 and 2% beginning March 1, 2017; Alpha Income is presented net of 2% fees)
-G. Chadd Mason, CEO
*Performance numbers indicated with (+) for positive return and (-) for negative return.
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All performance returns are presented net-of-fees and include the reinvestment of dividends and capital gains. Benchmark comparisons are presented gross-of-fees.
Past performance may not be indicative of future returns. No current or prospective client should assume that the future performance of any specific investment or strategy will be profitable or equal to past performance levels.
All investment strategies have the potential for profit or loss. All strategies have different degrees of risk. There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client.
Historical performance results for investment indexes and/or categories typically do not show the impact of transaction and/or custodial charges or the deduction of an advisory fee, which may decrease historical performance results. There can be no assurances that a strategy will match or exceed its benchmark.
Some performance returns do not represent actual trading using client assets but were achieved through retroactive application of a model designed with the benefit of hindsight. Model returns have inherent limitations. Specifically, these returns do not represent actual trading and may not reflect the impact of material economic and market factors on the adviser’s decision-making if the adviser had actually managed the client’s money during this time frame.
Different types of investments involve higher and lower levels of risk. There is no guarantee that a specific investment or strategy will be suitable or profitable for an investor’s portfolio. There are no assurances that a portfolio will match or exceed any particular benchmark.
Cabana LLC manages assets on multiple custodial platforms. Performance results may vary based upon differences in associated costs and asset availability within the Cabana Model.