Market insight and a highlight of Cabana’s year-to-date performance:
Cabana’s seven portfolios range from “Conservative” to “Aggressive” and include an income strategy and an “Accumulator” portfolio. Performance is as of market close on March 5, 2018 and is presented net of maximum advisory fees and commissions.
All Cabana Portfolios were down for the week, consistent with the decline in the overall equity market. Our low beta Alpha Income and Conservative Portfolios significantly outperformed.
Equity and bond markets continue to digest rising yields across the entire yield curve. As we have discussed previously, assets classes are jockeying for investment dollars in the “new” normal interest rate environment. This coupled with increasing U.S. political uncertainty has resulted in ongoing volatility across all markets.
All the while, corporate earnings have continued to grow and the yield curve remains relatively accommodative. Let’s not ever forget that earnings drive equity prices and allocation of assets. We will continue to watch this tension play out and re-allocate when appropriate. We are cautiously bullish.
PLEASE NOTE: Since this post was written, Cabana has reallocated all of its core portfolios (not including Alpha Income) in response to the continued positive economic data we are monitoring, coupled with equity and bond markets stabilizing after having four weeks to digest the effects of rising interest rates.
Year-to-date net-of-fees performance:
ALPHA INCOME: -1.00%
Performance is presented net of the maximum advisory fees and commissions (2%). Numbers indicated with (+) for positive return and (-) for negative return.
-G. Chadd Mason, CEO
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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.