Archives
Second Quarter Letter 2016
During the second quarter of 2016, the Lester Canadian Equity Fund increased +6.4% net of all fees and expenses, versus the TSX Composite total return which was up +5.1%.
First Quarter Letter 2016
During the first quarter of 2016, the Lester Canadian Equity Fund increased +7.0% versus the TSX Composite total return which was up +4.5%. While the TSX’s rise was led by soaring gold
Fourth Quarter Letter 2015
During the fourth quarter of 2015, the Lester Canadian Equity Fund increased by +2.1% versus the TSX which declined -1.4%. Our outperformance during the quarter was due to positive news on several
Third Quarter 2015 Letter
During the third quarter of 2015, the Lester Canadian Equity Fund declined by -12.4% versus -7.9% for the TSX Composite total return including dividends. Year to date, the Fund's return
Second Quarter 2015 Letter
During the second quarter of 2015, the Lester Canadian Equity Fund returned +2.3% (net of all fees and expenses) versus -1.6% for the TSX Composite total return including dividends.
Fourth Quarter 2014 Letter
In 2014, the dollar-weighted average return of our segregated equity portfolios was +7.6% net of all costs, versus +10.5% for the TSX Composite total return and +24% for the S&P500
Third Quarter 2014 Letter
For the third quarter of 2014, the dollar-weighted average return of our segregated equity portfolios was -0.7% (net of fees) versus -0.6% for the TSX Composite total return and +6.1% for the S&P500
Second Quarter 2014 Letter
For the second quarter of 2014, the dollar-weighted average return of our segregated equity portfolios was +3.2% (net of fees) versus +6.4% for the TSX Composite total return and +1.6% for the S&P500 (in $CAD).
First Quarter 2014 Letter
The dollar-weighted average return of our segregated equity portfolios was +2.7% (net of fees) versus +6.1% for the TSX Composite total return (including dividends) and +5.8% for the S&P500 (in $CAD).
Fourth Quarter 2013 Letter
We are pleased to report that for 2013, the dollar-weighted average return of our segregated equity portfolios was +17.3% net of all fees (approximately +19% before fees), versus +13% for the TSX
Third Quater 2013 Letter
We are pleased to report that for the 3rd quarter of 2013, the weighted average return of our segregated equity portfolios was up +4.3% net of all fees, versus +6.2% for the TSX Composite total
Second Quarter 2013 Letter
We are pleased to report that for the second quarter of 2013, the weighted average return of our segregated equity portfolios was down only -0.9% net of all fees, versus -4.1% for the TSX