More Price Increases Coming

Trevor Gurwich argues that as economies return to normal, we can expect to see large price increases in many sectors, shipping rates and commodity prices.

Michael Ryval 27 May, 2021 | 1:50AM
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Last year proved to be a good one as markets rebounded quickly following the initial shock of the COVID-19 pandemic. But 2021 has turned out to be challenging, largely because of a change in sector leadership, admits Trevor Gurwich, vice-president and senior portfolio manager with Kansas City, Mo.-based American Century Investment Management. Nevertheless Gurwich, who oversees the $37 million 3-star, bronze-rated CIBC International Small Companies, counsels patience. 

“We launched the strategy in 2001 and it has had an annualized return of about 14% since inception, for an outperformance of over 500 basis points over that period,” says Gurwich, whose 11-person team oversees about US$5 billion in assets, including the US$600 American Century International Opportunities Fund, the model for the CIBC fund. “We had a good year in 2020. This year has been a little more challenging. And it’s not atypical when you see big macro inflections. There was a large macro turnaround last November when two catalysts transpired.”

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
CAE Inc36.23 CAD0.00
CIBC International Small Companies F13.23 CAD1.30
Howden Joinery Group PLC959.80 GBP0.00

About Author

Michael Ryval

Michael Ryval  Michael Ryval, a regular contributor to Morningstar, is a Toronto-based freelance writer who specializes in business and investing.

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