MONTREAL, Jan. 29, 2013 /CNW Telbec/ - Landry Investment Management is pleased to announce that Landry Morin U.S. Momentum Fund achieved an annual return of +28.8% for the year ended December 31, 2012. The fund ranked as the best one-year performer among the 777 U.S. Equity funds ranked by Morningstar in Canada. Since inception the fund has generated an average annualized return of 16.6%.
"It was a very good year for the price momentum strategy in the U.S." according to Jean-Luc Landry, Chairman and Portfolio Manager at Landry Investment Management. "The year started off very strong, with companies such as Apple leading the way for technology stocks." Landry said. "However, we saw momentum slow down toward the end of the year. The U.S. market is rotating from technology to financials", Landry said, "and thus strong performance is expected again this year - but from a completely different area of the market."
"It has been a great year for performance and we have worked very hard on the models that delivered this performance." said Benoit Brillon, Landry Investment Management's Chief Investment Officer and Portfolio Manager. Brillon, rated a "Top Gun Manager" by Brendan Woods in 2010, joined the Landry Investment Management team in 2012. "Changes to our model now include a segment dedicated to value and factor rotation strategies, which has the effect of lowering the portfolio's volatility." Brillon said. "According to our research, momentum and value are two investment strategies that work exceedingly well together."
Added Landry Investment Management Partner Fred Pye: "Everyone on the Landry team has been in the business for a very long time. We know that any portfolio manager can have good years and not so good years, but I must say it feels good to be able to pat ourselves on the back for this, it truly was a great year. Momentum, a price-appreciation strategy, is a relatively new investment management style that has developed because of the significant advances in databases and computer-driven management." Pye said. "Our new combinations and portfolio strategy should play out very well in the years to come. This portfolio focuses on the largest 100 US stocks and our economic research leads us to believe we could have another good year again." he added.
Founded in 2002, Landry Investment Management is a firm dedicated to producing top performing value and momentum portfolios for its clients. The company's portfolio managers collectively have over 100 years' investment industry experience. The firm's mutual funds are listed on FundSERV and are used for portfolio diversification by sophisticated investment advisors. The company also manages a Canadian Portfolio and World Portfolio using the same strategies.
The performance quoted herein is provided by Morningstar.ca and is for the G Series Fund. The Fund is ranked 1/777 in the U.S. Equity Category for the year ended December 31, 2012. Ranks are subject to change every month.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
SOURCE: Landry Investment Management Inc.
For further information:
Frederick T. Pye or Jean-Luc Landry
Landry Investment Management Inc.