Read the story behind our performance

摘要

It was mid-2011, and fears of a recession were on the horizon. While many fund managers were decreasing their equity exposure in favor of fixed income, our investment teams saw diminishing returns and little upside there. Instead, our global team of equity analysts spotted a potential value opportunity-a leading entertainment company we believed was already beginning to see the fear of a recession priced into its stock. After thoroughly examining the opportunity, we saw strong upside potential and invested. And when the recession didn't come to pass, the stock's value eventually rose. The Capital Appreciation Fund's flexible mandate to invest across asset classes is just one reason it may be a good choice for investors, even in times of economic uncertainty.