Canadian equities were the big winner in August, as commodities were higher on mid-east tension. Global equities were largely flat or negative, and bonds were pushed lower on investor concerns over when the U.S. Federal Reserve would begin to slow its massive bond buying program. All of our portfolios were in the red during the month, with the Conservative portfolio posting the largest loss. Still, with 70% of the fund invested in fixed income funds, it managed to handily outpace its benchmark, thanks largely to the strong relative showing from the Manulife Strategic Income Fund and the Ivy Foreign Equity Fund. Our Balanced and Growth Portfolios were also lower, largely due to their significant global exposure.
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 (August 31, 2013)
| 1 Mth | 3 Mth | YTD | 1 Yr | 2 Yr | 3 Yr | 5 Yr | 10 Yr | |
|---|---|---|---|---|---|---|---|---|
| Conservative | -0.4% | -1.1% | 3.9% | 6.0% | 5.3% | 5.5% | 5.0% | 5.6% |
| Moderate Balanced | 0.5% | -1.9% | 1.6% | 5.4% | 5.2% | 4.9% | 8.0% | |
| Balanced | -1.3% | -6.6% | -10.9% | -10.6% | -1.3% | 2.4% | 3.1% | 5.2% |
| Balanced Growth | 0.5% | -1.9% | 1.6% | 5.4% | 5.2% | 4.9% | 8.0% | |
| Growth Portfolio | 0.9% | 6.1% | 19.9% | 25.7% | 19.9% | 16.0% | 7.9% | 10.8% |