Market Update – 2nd Quarter
While economic growth has not been spectacular, we are making some progress.
The S&P 500 continued to move higher in the second quarter of 2013, even though we experienced some volatility in the month of June. The S&P 500 returned 2.92%, bringing the year to date return to 13.84%.
And while the market reacted with concern when the Fed stated they may be pulling back on the quantitative easing program later this year, it’s likely that even if they cut back on the bond buying program (quantitative easing), interest rates in general should remain low for some time. Think of it as the Fed taking the training wheels off a bike.
CAIM’s strategy of investing in high quality dividend paying stocks means our investments have continued to perform well. Our institutional portfolios are up 15.25% year to date, 16.34% over the past 12 months and 13.74% annualized over the past 3 years. (The performance data given represents past performance and should not be considered indicative of future results. Principal value and investment return will fluctuate. Performance results are gross of fees.) To see our full performance report, please email me at firstname.lastname@example.org.
Wishing all of you a happy and safe summer!