July 2026 Portfolio Construction
The July 2026 Portfolio Construction note looks past recent headlines suggesting Canada has entered a recession. CI Global Asset Management’s Alfred Lam, CFA, argues that much of the recent GDP softness reflects population dynamics rather than a broad-based economic downturn, with output per capita continuing to grow modestly.
The piece also examines Canada’s evolving trade position, from CUSMA exemptions and a softening auto sector to early signs of diversification such as relaxed EV import rules from China. Against this backdrop, Lam makes the case for Canadian investors to reduce home-country bias and build exposure to global growth sectors such as artificial intelligence and healthcare.
To read the full commentary, download the PDF below.