The perception of “Fed Tapering” affected many interest rate sensitive sectors including Canadian REITS and property. A casualty to investors’ growing concerns that the US Federal Reserve could soon implement a change in the current status quo of monetary easing was Dundee Corporation. Dundee Corp is a Canadian conglomerate with mining, banking and property interests which fell by 10% over the month. We continue to believe though that the inherent value within Dundee Corp will be reflected in its share price as the underlying assets appear to be performing well and the management have a proven history of returning capital to shareholders.
British Empire Securities and General Trust p.l.c is referred to as ‘British Empire’ throughout the website. British Empire’s investment managers, Asset Value Investors are referred to as ‘AVI’