Balanced Fund Commentary – Q2 2020

Equity markets have rebounded from the March lows. A combination of the following have assisted in improving investor sentiment:

• Unprecedented monetary & fiscal stimuli
• Improving economic data
• A flattening COVID infection curve (in some but not all areas)

Interest rates have significantly declined and the Canadian dollar has appreciated versus the US dollar.

Benchmark Returns

Balanced Fund Returns

Stars & Dogs (2nd Quarter)

Fund Performance Commentary (2nd Quarter)