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Fourth Quarter Letter 2017


2017 Year End Letter

We are pleased to present our fourth quarter and 2017 results. It was an exceptional year for Lester Asset Management, both in terms of transitioning seamlessly through some ownership and management changes, as well as once again generating strong returns for our clients in both equity and fixed income. We handily beat our benchmarks in both Canadian Equity and Fixed Income. Since we implemented our new investment strategy in 2006, we have generated higher equity returns than the TSX Composite in 9 of the last 12 years, and higher fixed income returns than the Canadian Bond Universe in 7 of the past 10 years. We can only promise to work hard in trying to continue to do so. With respect to our team, we added bench strength to our research capabilities with Martin, are updating compliance with Helen, and remain dedicated to providing outstanding client service, administration and reporting with Lorie, Patricia, Peggy and Celine.