client login

 

Member of the
Portfolio Management
Association of Canada

Business news network

PGEQ

How can we help you?

Contact us to learn more about investing with Lester Asset Management.

  • 514.849.5566 or
  • 1-866.849.5566
recommended links

2020 Third Quarter Letter

October 16, 2020

THIRD QUARTER LETTER 2020

CANADIAN EQUITY

During the 3rd quarter of 2020, the Lester Canadian Equity Fund rose +12.3% on a gross basis versus +4.7% for the TSX Composite Total Return (including dividends). Year-to-date, the Fund is up +0.6% versus -3.1% for the TSX. Our outperformance versus the index in the quarter and year-to-date is mainly due to our portfolio being comprised of businesses that are relatively immune to the ravages of the pandemic and still able to grow. Our performance has been particularly satisfying given that we have no exposure to the gold sector or Shopify which have contributed nearly +7% to the TSX return and without which the TSX would be down around -10%.