Advisors remain bullish on Canadian dollar and commodities, bearish on U.S. investments …
BetaPro Management Inc. (“BetaPro”) has released the results of its Q3 2009 Advisor Sentiment Survey. Advisors have turned generally less bullish on their outlook for the Canadian markets, and outright bearish on financials and U.S. equities following the significant run-up in equities over the second quarter, according to the survey results.
The survey, completed between June 18 and June 30 by over 300 advisors representing approximately $20 billion in assets under management, revealed that advisors remain cautiously optimistic on some commodity plays, such as gold and silver, but there was a significant drop in the percentage of crude oil bulls from the previous quarter (45% vs. 69%). The number of bears on the U.S. 30-year Bond increased slightly (55% vs. 52%) on the expectation that long term interest rates will continue to rise, while the consensus is still bullish on the loonie gaining vs. the U.S. greenback (62%) over the third quarter.
“The third quarter survey results suggest that advisors are moderately bullish on Canada and bearish on U.S. investments,” said Howard Atkinson, President of BetaPro. “Not surprisingly, their strongest opinions favour the Canadian dollar over the U.S. dollar, and being short longer-dated U.S. bonds. The possibility that equities may take a breather over the quarter makes sense after such a strong showing in the second quarter and this is reflected in the survey results.”
This quarter the survey added a new commodity index for silver, which coincides with the launch of BetaPro’s new single long Silver exchange traded fund (“ETF”), the Horizons BetaPro COMEX® Silver ETF (TSX: HUZ), as well as new double long ETFs, the Horizons BetaPro COMEX® Silver Bull Plus ETF (TSX: HZU) and the Horizons BetaPro COMEX® Silver Bear Plus ETF (TSX: HZD).
The Horizons BetaPro Exchange Traded Funds (“HBP ETFs”) are the largest ETFs by number (38 ETFs) and the most frequently traded by share volume in Canada. HBP ETF assets have grown by 539% in 2007 and by over 225% in 2008. HBP ETFs are a unique series of investment tools which allow investors to profit or protect in bull and bear markets with exposure to 15 key equity, bond, currency, and commodity benchmarks. BetaPro, the manager of the HBP ETFs, is the sole provider of leveraged, inverse-leveraged and single inverse ETFs in Canada and the world’s first provider of leveraged and inverse-leveraged ETFs on commodities.
Source: ETFWorld.com – BetaPro Management Inc. (“BetaPro”)
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