With bond and equity markets ravaged by uncertainty, our portfolios’ streak of positive months ended in June, with all in the red for June. With bond yields skyrocketing, it was not surprising to see our fixed income heavy Conservative Portfolio sink by 1.6% in the month. While this is disappointing, thanks to a 1.2% gain in the Mackenzie Ivy Foreign Equity Fund, it managed to modestly outpace its benchmark.
At the other end of the risk curve, our Growth Portfolio was down 1.8% in June, but is still up by more than 12% on the year-to-date basis. A few of the funds including IA Clarington Canadian Small Cap, and the Ivy Foreign Equity Fund handily outpaced their benchmarks, resulting in a strong relative showing for the portfolio.
Despite the recent losses, the portfolios continue to deliver risk adjusted returns that are significantly stronger than their respective benchmarks. Their absolute return levels are well within our expected ranges based on the risk reward profile of each portfolio.
You can download our detailed Portfolio Review here.
Portfolio Performance (June 30, 2013)
| 1 Mth | 3 Mth | YTD | 1 Yr | 2 Yr | 3 Yr | 5 Yr | 10 Yr | ||
|---|---|---|---|---|---|---|---|---|---|
| Conservative | -1.6% | -0.4% | 3.3% | 5.7% | 4.3% | 6.0% | 5.2% | 5.7% | |
| Moderate Balanced | -1.4% | 0.6% | 5.7% | 8.4% | 4.4% | 6.8% | 4.7% | 5.9% | |
| Balanced | -1.5% | 0.7% | 6.5% | 9.4% | 4.1% | 7.1% | 4.3% | 6.3% | |
| Balanced Growth | -1.2% | 2.0% | 9.4% | 12.6% | 4.6% | 8.2% | 3.6% | 6.4% | |
| Growth Portfolio | -0.8% | 3.2% | 12.2% | 15.9% | 6.3% | 10.6% | 3.5% | 7.0% |