The Power of Private

Q2 Newsletter 2023
June 7, 2023

By Ian Ardill

Amid volatile markets and turbulence in the economy, our private investments have performed very respectably.  We are honoured to continue building portfolios that are custom tailored – unique – to each client.

An investor who owned an index last year would have performed as follows[1]:

On the other hand, all of the asset managers we work with delivered positive returns in 2022[2].  Specifically:

Let’s reinforce for a moment just what it means when your portfolio declines, say, 18.1%, which matches the S&P 500’s performance in 2022.  To recover that decline, by how much must your portfolio increase?

The answer is not 18.1%, but instead 22.1%, because the growth will be occurring on a smaller portfolio.

Here is our conclusion:  we see high quality privately-managed assets as providing effective diversification, excellent value – and a hedge against public equity markets.  While all investments have associated risks, it is important to note that common risks of investing in private securities include, but are not limited to: lesser reporting standards, illiquidity, and generally lesser governance standards. In addition to the business-specific risks of the private securities issuer.

Thus the business case stands that good quality private equity investments have the capacity to behave differently than publicly-held alternatives. They present the potential for overall stronger returns while potentially diversifying risk.

Want to learn more?  Just let me know.


Ian Ardill, B.A., M.T.S.

Private Wealth Advisor
CEO, Ardill Group


Direct: 1 905 717 5698

Office: 1 905 907 7000


*Please note: Private market investments provided through Raintree Financial Solutions

[1] Indices information retrieved from publicly available sources. Indices shown are well-known and widely recognized benchmarks and are meant to illustrate general market or sector performance; Investors should be aware of the risks and limitations with any comparisons to such benchmarks, including it is not possible to invest directly into an index.

[2] Past performance does not guarantee future results.

[3] Class D units, excluding the reinvestment of distributions, but inclusive of NAV adjustments.

[4] Series B units, excluding the reinvestment of distributions, but inclusive of NAV adjustments.

[5] Class B units, including the reinvestment of distributions.

[6] Class A units, including the reinvestment of distributions and NAV adjustments.