Archives
Third Quarter Letter 2016
During the third quarter of 2016, the Lester Canadian Equity Fund rose +7.9% net of all fees and expenses, versus the TSX Composite total return which was up +5.5%. While the TSX’s returns
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