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Portfolio Manager’s June Comment for May Results

In May, the S&P/TSX declined 4.9% and S&P 500 rose by 0.4% while the MSCI ACWI ex USA dropped by 3.5%.

At the end of the 12-month period ending May 31st, the S&P/TSX fell by 2.5%, the S&P 500 grew 2.9% while the MSCI ACWI ex USA decreased by 0.9%.

In May, NQICAT dropped by 2%, and by 7.2% on an annual basis.

The best TSX sectors for the month of May were Information Technology up 9.1%, Energy up 2.2%, and Utilities down 1.6%.

The worst-performing sectors were Materials down 10.5%, Telecom down 8.2%, and Consumer Staples down 5.9%.

The best monthly performers in NQICAT were Goeasy Ltd. up 15.1%, Stella Jones Inc. up 13.3%, and EQB Inc. up 9.8%.

On the other hand, the weakest contributors were Nutrien Ltd. down 23.9%, Canadian Natural Resources Ltd. down 11.4%, and Imperial Oil down 10.8%.

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