Tera comments... nice timing....Tera Cap's monthly newsletter comments as of this morning...
The Innovation Fund was up for the month 0.2% closing at $160.70 compared to the S&P/TSX Technology Index up 4.5% for the same month. In January, the fund invested in new positions including Dragonwave (DWI), Triquint Semiconductor (TQNT), and Qualcomm (QCOM); all 3 investments were up for the month. As well, the new positions entered in December had a good month with Sandvine up 24%, and Applied Materials up 15%. The portfolio’s performance was negatively impacted by the decline in VIQ Solutions that largely offset the other gains. Following tax loss selling last year, we continue to wait patiently for the very large activity level at VIQ to transform itself from pilots into country contracts.
Howard Sutton – Portfolio ManagerTera Global Innovation Fund