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Portfolio Manager’s June Comment for May Results

In May, the S&P/TSX increased by 0.1%, the S&P 500 grew by 0.2% while the MSCI ACWI ex USA rose by 1.3%.

At the end of the 12-month period ending May 31st, the S&P/TSX grew by 7.9%, the S&P 500 gained 0.3% while the MSCI ACWI ex USA decreased by 11.5%.

In May, NQICAT increased by 1.2% while it climbed 0.3% on an annual basis.

The best TSX sectors for the month of May were Energy up 11.4%, Financials up 1% and Utilities up 1.1%.

The worst performing sectors were Health Care down 16.5%, Materials down 6% and Industrials down 5.3%.

The best monthly performers in NQICAT were Parex Resource up 11.9%, Equitable Group up 10.6% and Canfor up 9.4%.

At the opposite, the weakest contributors were Leon’s Furniture down 11.4%, Labradon Iron Ore Royalty Corporation down 7.8% and Enghouse down 5.9%.