Key Takeaways:
- The team turned more defensive at the end of Q1 by mostly reducing exposure to cyclical sectors, namely energy, basic materials, and industrials.
- The portfolio manager believes the economy faces greater risk than currently priced.
- The team remains careful in their overall portfolio approach but take the opportunity to buy cyclicals where most of the downside is protected.
Marc Gagnon, M.Sc., CFA
Vice-President, Portfolio Manager,
North American Equities, iAGAM
"iAGAM" is a tradename under which iA Global Asset Management Inc. and Industrial Alliance Investment Management Inc. operate.
