Middlefield Canadian has just published its results for 2015. In 2015, the Fund outperformed the S&P/TSX Composite High Dividend Index by over 12%, with a total return (in GBP) of -11.8% versus the benchmark total return of -24.1% (in GBP) over the same period.
Having got permission to increase the fund’s exposure to the US, at the end of the year MCT had approximately 32% of the portfolio was invested in U.S. listed securities. While the strength in the GBP negatively impacted performance in 2015, the Fund benefited from its exposure to U.S. securities and the corresponding appreciation in the U.S. dollar. Going forward, they expect the movement in currencies to partially offset each other, reducing the overall volatility in reported returns.
MCT : Middlefield Canadian’s foray into US pays off