iProfile™ Private Discretionary Portfolio – Global Neutral Balanced
Q2 commentary 2026
Highlights
① The portfolio rose over the period, with positive contributions coming from most iProfile pools.
② Earnings strength helped markets absorb uncertainty.
③ Valuations and rates make selectivity more important.
Portfolio returns: Q2 2026
| Total Return | 1M | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inc. (March 15, 2021) |
iProfile Private Discretionary –
| 1.61
| 7.56
| 7.93
| 15.43
| 12.93
| 8.17
|
Portfolio overview
The iProfile™ Discretionary Portfolio – Global Neutral Balanced rose by 7.5% in the second quarter of 2026 and performed in-line with its Global Neutral Balanced peer group median (7.4%). Most component iProfile pools generated positive returns, supported by strong global equity markets and continued investor enthusiasm for artificial intelligence-related investments.
iProfile U.S. Equity Private Pool and the iProfile ETF Private Pool were the largest contributors to portfolio results due to their meaningful weights, while emerging markets delivered the strongest absolute return. These gains were partially offset by more modest returns from fixed income holdings amid rising global bond yields.
Equity holdings broadly added value during the period, with positive contributions across all equity mandates.
The iProfile U.S. Equity Private Pool was the largest contributor among the equity allocations, benefiting from continued strength in technology and AI-related investments. Within the pool, Advanced Energy Industries was a notable contributor, gaining approximately 22.5%.
The iProfile ETF Private Pool and iProfile Active Allocation Private Pool also contributed positively, supported by strong global equity market returns and continued strength in semiconductor-related companies.
The iProfile Canadian Equity Private Pool further added meaningfully to returns, led by holdings such as Bombardier and TFI International.
The iProfile International Equity Private Pool benefited from continued strength in semiconductor and technology-related holdings, including Taiwan Semiconductor Manufacturing and Samsung Electronics, reflecting ongoing demand driven by AI-related investments.
The iProfile Emerging Markets Private Pool delivered particularly strong results despite its modest portfolio weight, driven by holdings including SK Hynix and Delivery Hero.
Fixed income holdings also added value during the period. Canadian fixed income exposures were the largest contributors, benefiting from resilient domestic bond market conditions. Multi-sector, corporate bond, mortgage and private credit mandates also generated positive returns, while the Mackenzie Global Macro Fund and Wellington-IG Global Equity Hedge Pool contributed modestly. The IG Mackenzie Real Property Fund added modestly to performance. These gains were partially offset by the PIMCO-IG Global Bond Pool, which was negatively affected by rising global bond yields during the quarter. The BlackRock-IG Low Volatility International Equity Pool was the only component to post a small negative return, though its impact on overall portfolio results was limited given its modest weight.
Market overview: earnings strength helped markets absorb uncertainty
The second quarter of 2026 reinforced the resilience of financial markets. Investors faced conflict in the Middle East, commodity-price volatility, shifting interest-rate expectations and renewed inflation concerns, yet global equities continued to advance as corporate earnings and economic activity remained stronger than expected. The S&P 500 gained 14.9% in U.S.-dollar terms for the quarter, while the S&P/TSX Composite Index advanced 6.4%, supported by healthier earnings expectations and improving market breadth.
Canadian equities were led by a strong rebound in financials, as better-than-expected bank earnings, resilient credit quality and improved capital markets activity lifted sentiment. U.S. equities were supported by earnings strength rather than a simple risk-on rally, with Information Technology leading as AI infrastructure spending continued to anchor sentiment. International equities also contributed meaningfully, with emerging markets Korea and Taiwan benefitting from demand across the global technology supply chain.
Market outlook: valuations and rates make selectivity more important
Markets enter the second half of 2026 with fundamentals remaining broadly supportive, although elevated equity valuations leave less room for error. Earnings growth is likely to remain the key driver of returns, while inflation trends, central bank policy and interest-rate expectations will continue to shape market sentiment.
Across asset classes, diversification remains important. Canadian, international and emerging market equities offer exposure to distinct sources of growth, while higher yields in fixed income continue to provide a cushion against volatility. Selectivity remains key as investors balance opportunities against valuation and policy risks.
To discuss your investment strategy, speak to your IG Advisor.
Commissions, fees and expenses may be associated with mutual fund investments and the use of iProfileTM Managed Asset Program. Read the prospectus and speak to an IG Advisor before investing. The rate of return is the historical annual compounded total return as of June 30, 2026, including changes in value and reinvestment of all dividends or distributions. It does not take into account sales, redemption, distribution, optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, values change frequently and past performance may not be repeated. An asset allocation service, iProfile is a managed asset program for clients with a minimum of $250,000 invested in the iProfile program. Mutual funds and investment products and services are offered through the Mutual Fund Division of IG Wealth Management Inc. (in Quebec, a firm in financial planning). And additional investment products and brokerage services are offered through the Investment Dealer, IG Wealth Management Inc. (in Quebec, a firm in financial planning), a member of the Canadian Investor Protection Fund.
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