Q3 2026 Outlook
Nicola Wealth's investment leadership team offers a direct, candid perspective on current market conditions, recent portfolio outcomes, and how client portfolios are being positioned through an evolving economic cycle, underscoring discipline, diversification, and patience as the lasting advantages that provide a reliable path through today's crowded, uncertain investment landscape.
Overview
- Key market developments and what they mean for investors
- Portfolio and fund performance across asset classes
- How we are positioning portfolios in today’s environment
- Why diversification remains one of the most effective risk-management tools available
- Answers to client questions submitted in advance
Key Takeaways
- Discipline over prediction. We aren't trying to forecast every twist in the market. We’re building portfolios that hold up across a range of outcomes.
- Deliberate diversification. Public markets, private capital, and real estate aren't separate bets. They're one coordinated, resilient approach.
- Selectivity creates opportunity. Not every trend deserves capital. We focus on opportunities where fundamentals, valuation, and long-term potential align.
- Patience is intentional. We won't lead in every environment, because our focus is long-term success, not any single quarter.
- Confidence, through consistency. While markets change, our investment philosophy does not, remaining grounded in the same principles that have guided us for decades.
- Planning matters as much as investing. The value we bring extends well beyond the portfolio itself.
- These principles aren't new, but they matter more in moments like this one. As always, thank you for the trust you place in us.
Q3 Outlook Speakers
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Disclosures
This video contains the current opinions of the presenter, and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your Nicola Wealth Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product.
Returns are net of fund expenses charged to date. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. This is not a sales solicitation. This investment is intended for tax residents of Canada who are accredited investors. Residency restrictions apply. Please read the relevant documentation for additional details and important disclosure information, including terms of redemption and limited liquidity.
This summary contains targeted returns; actual returns may vary.
The performance comparisons provided in this video are based on the best available information at the time of preparation and is subject to change without notice. While we strive to ensure accuracy, we do not guarantee the completeness or reliability of third-party data, and no liability is assumed for any errors or omissions.
The slide material should not be relied upon in isolation, as it may be incomplete or lack the necessary context provided during the oral presentation.
The Nicola Core Composite returns represent the total Canadian dollar returns of all fee paying portfolios with a Nicola Core mandate. The composite includes clients who are both fully discretionary and nondiscretionary. Historical net of fee composite performance returns are calculated using individual realized time-weighted client returns net of fees and is presented before tax.
The Nicola Wealth inclusion policy is based on clients’ weights at calendar month end. The composite returns are asset-weighted based upon ending monthly market value. The Nicola Core mandate may change throughout time. Additional information regarding policies for calculating and reporting returns is available upon request. The composite returns presented represent past performance and is not a reliable indicator of future results, which may vary.
Comparisons of the historical performance of Nicola Wealth funds or models to the historical performance of indexes, mutual funds or other investment vehicles should only be undertaken with consideration of the differences that exist between the underlying investments that comprise the compared investment vehicles. Indexes may be primarily composed of a single asset type/asset class (i.e. 100% equities or 100% bonds) whereas Nicola Wealth funds may or may not contain a combination of exchange-traded equities, marketable bonds, private investments, other alternative investment classes and exempt products. When making any comparison of historical performance, these differences and their impact on the performance of each comparable should be taken into account.
Morningstar Canadian Neutral Balanced is a proprietary index developed by Morningstar Canada based on the CIFSC Fund categories (www.cifsc.org). This index includes funds which meet the following criteria: Funds in the Canadian Neutral Balanced category must invest at least 70% of total assets in a combination of equity securities domiciled in Canada and Canadian dollar- denominated fixed income securities and between 40% and 60% of their total assets in equity securities.
At the time of publishing, the following securities are held by Nicola Wealth: Canadian Utilities (TSX:CU)
Mention of these securities is not a recommendation to buy or to sell.
Nicola Wealth Management Ltd. (Nicola Wealth) is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required securities commissions.