For the fourth quarter ended December thirty first, 2021, KVF gained $1.08 per share, rising the worth of every share to $41.91. This low single-digit return is inside the vary of the -2% to +3% returns generated by the Russell 2000 and S&P/TSX indices, and under the 11% return of the S&P 500. Foreign money modifications had been a $0.05 per share headwind within the quarter.
For the 12 months, KVF returned 43% pre-tax, which bested the indices quoted above by fairly a bit.
This was a quiet quarter by way of exercise. KVF lastly managed to promote out of a disasterous funding in SpaceAndPeople (LSE:SAL) for an enormous loss, all of which had already been expensed in earlier quarters. Many shares within the portfolio skilled some weak point this quarter, which resulted in some alternatives so as to add to positions at extra enticing costs.
The overall market stage stays costly, which suggests traders must be cautious. There do seem like some pockets of worth which have developed, nevertheless.
KVF’s earnings assertion and stability sheet are included under (click on to enlarge). Observe that securities are marked to market worth, and quantities are in 1000’s of $CAD:
