You can download our standard monthly portfolio report here. For those looking for even more detail, I am also providing additional reports generated from Morningstar which show even more detail regarding the portfolios. A summary report can be downloaded here, while the more detailed report can be downloaded here.
Despite finishing in the red, each of the portfolios managed to outpace their respective benchmarks in June.
The strongest performer was the Conservative Portfolio, which lost 0.60%, but handily outpaced its benchmark, which was down 1.2%. The biggest contributor to this outperformance was the PH&N Short Term Bond and Mortgage Fund, which outperformed the broader bond market because of its shorter duration. Another key contributor to the monthly outperformance was the Sentry Small Mid Cap Income Fund, which managed to outpace its larger cap focused brethren.
The Growth Portfolio was lower by 1%, but managed to sharply outperform its benchmark. Each of the funds posted better performance than their benchmarks, with the TD U.S. Blue Chip, and the Fidelity Small Cap America Fund leading the way.
Even with the disappointing absolute performance numbers, the portfolios continue to perform well within expectations. I have no immediate concerns surrounding any of the funds in the portfolios, and continue to monitor them closely. I believe they remain well positioned to deliver above average risk adjusted returns over the long term.