Quarterly Portfolio Fund update

Read Investment Update weekly for the latest information on the financial markets, insights around current headlines, special reports, and more.

How Portfolio Funds performed during Q2 2024

All Portfolio Funds posted positive returns for the quarter, before fees. Income tended to outperform growth in Q2 – portfolios with higher allocations to Canadian fixed-income posted higher returns than those with higher allocations to Canadian and global equities.

Note: Rates of return for each portfolio are provided on an after-fees (net) basis. Given that fees are only applied at the portfolio level, all references to underlying fund performance are before fees (gross).

Key take-aways

Q2 was generally a positive quarter for U.S. equities and fixed-income markets in Canada. The S&P 500 and the Nasdaq both benefitted from an AI-fuelled tech rally, posting quarterly gains of 4% and 8%, respectively. The Dow Jones Industrial Average crossed the 40,000-point milestone for the first time ever, but also lagged the more tech-heavy U.S. indexes. Canada’s TSX hit record highs in May, but weak performance in the Canadian tech sector weighed on the benchmark’s overall performance in Q2. The biggest news domestically was the Bank of Canada’s decision in early June to cut its key policy rate for the first time since March 2020. Canada’s central bank became the first in the G7 to pivot toward a cut, ending a historic period of monetary policy that saw interest rates climb to 5% as Canadians grappled with soaring inflation.

Focus on the long term
If your investment goals, risk tolerance and time horizon haven’t changed, your current investing plan is likely on the right track. It’s important to look past short-term ups and downs, and focus on long-term prospects. Staying invested – and continuing to invest – throughout market fluctuations is the best way to capitalize over the long run. If you have questions about your investments, a Co-operators financial representative is always ready to help.

Interested in more tips and insights? Check out our Market View page for investment basics and weekly updates on market performance. You can even Sign-up to have this news sent directly to your inbox.

Sales charges, expenses and other fees

Fees and expenses reduce the return on your investment. For details, please refer to your Policy and Information Folder.

Current rates of return are available on our Segregated Fund Performance page. Your personal rate of return will vary, depending on the contributions and withdrawals you make over time. For details, please refer to your Policy Statement.

If you have questions about your investments, contact your Co-operators financial representative.

Versatile Portfolios Navigator^TM is a flexible and secure investment option

Whether you’re saving for the unexpected, for retirement or for that big item on your bucket list, your path to financial success is unique. Versatile Portfolios Navigator^TM can provide you with the flexibility you need. In addition to select and diverse investment options from top, trusted investment managers, we offer a suite of portfolio funds – all actively managed and consisting of underlying funds – that help you take the guesswork out of investing.

Segregated funds and annuities are administered by Co-operators Life Insurance Company. Not all products are available in all provinces.

The information contained in this communication was obtained from sources believed to be reliable; however, we cannot guarantee that it is accurate or complete. This communication is provided as a general source of information and should not be considered personal investment advice or solicitation to buy or sell any investment. Co-operators is committed to protecting the privacy, confidentiality, accuracy and security of the personal information that we collect, use, retain and disclose in the course of conducting our business. Please refer to our privacy policy for more information. Co-operators® is a registered trademark of Co-operators Group Limited and is used with permission. Versatile Portfolios Navigator ^TM and Investing in your future. Together. ^TM are trademarks of Co-operators Life Insurance Company. True North® is a registered trademark of Fidelity Investments Canada ULC and used with permission. Versatile Portfolios Navigator™ is an investment product offered by Co-operators Life Insurance Company which may include features or options such as segregated funds, portfolios of segregated funds or guaranteed rates. Guaranteed benefits are payable upon death or upon maturity (reduced proportionately by withdrawals from, or investment transfers out of, the segregated funds). No guarantee is provided upon surrender or cancellation. Subject to any applicable death and maturity guarantee, any part of the premium or other amount that is allocated to a segregated fund is invested at the risk of the policyholder and may increase or decrease in value.

Returns, investment segmentation and top holdings as of June 30, 2024. Rates of return for periods less than one year are simple rates of return. All others are annualized rates of return. Securities regulations do not allow us to report performance for a fund that has been available for less than one year. The returns reflect changes in unit value and assume that all income/realized net gains are retained by the segregated fund in the periods indicated and are reflected in higher unit values of the fund. The returns do not take into account sales, redemption, distribution or other optional charges or income taxes payable that would have reduced returns or performance. Past performance of any fund is not necessarily indicative of its future performance.

If you have questions or want to discuss your investments, please contact your authorized financial representative.

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