Mulvihill Capital Management Inc.
Climate Impact & Sustainability Data (2005, 2016, 2017, 2020, June 2022)
Reporting Period: 2005
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Low volatility in the market resulting in the need to write options on a greater portion of the portfolio to generate distributable income.
- Impact of foreign exchange fluctuations on the value of the Fund’s non-Canadian holdings.
- Increased option writing limiting capital appreciation earned on securities in the portfolio.
Mitigation Strategies
- Purchased protective put options to mitigate partially the potential impact of a severe market decline and take advantage of the low cost of this protection.
- Actively hedged its U.S. dollar exposure during the year and finished the year with its U.S. exposure fully hedged against fluctuations in the exchange rate for Canadian dollars.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: National Instrument 81-106 (Investment Fund Continuous Disclosure)
Third-party Assurance: Deloitte & Touche LLP
Reporting Period: 2016
Environmental Metrics
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2017
Environmental Metrics
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2020
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic impacting global markets and economies.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: June 2022
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- High inflation rates exceeding 8% in the US.
- Supply shortages and price pressures.
- Deep political division and culture wars in the US causing economic risk.
- War in Ukraine.
- Softening economy and corporate earnings.
- Monetary and fiscal policy no longer supportive.
Mitigation Strategies
- Consumers changing behavior due to higher prices and supply shortages leading to easing inflation.
- Order backlogs and delivery times rolling over.
- Hope for a peace settlement in Ukraine.
- Expectation of easing inflation this month (though no particular reason given).