“Since our last Markets in Motion, our Global Macro view has begun to playout. Since mid-May, growth/quality equities have turned from laggards to leaders as cyclical assets have faltered. We think this move has only just begun and we remain convicted in our positioning.” Click here for the full article.

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Re-opening Theme – An Opportunity to Exit Client’s Exposure to Oil
“Maple Capital used the prevalent re-opening theme in the equity market as an opportunity to eliminate our client’s exposure to the oil commodity in most portfolios. In our view, investors are not being properly compensated for assuming the rising risk of long-term volume declines and obsolescence in the primary consumable end-market. We anticipated a re-opening rebound in the energy sector and now that shares prices have moved near or passed pre-pandemic levels, we executed on that part of our strategy. We will be using the sources of those funds to reallocate to better return on client capital businesses that should benefit from the transition taking shape in the energy sector.” Read the full article here.

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