Purpose Best Ideas Fund May Commentary & Fund Update

Fund Commentary

The Fund had strong performance in May. The best performing sectors were technology, healthcare and consumer staples, while consumer discretionary was the only sector that ended slightly down.

SunEdison was the most profitable this month. Despite missing Q1 earnings, the stock rallied on the outlook for future earnings growth. Priceline was the worst performer despite topping Q1 earnings forecasts, as shares sank after a decline in foreign revenues due to currency weakness.

There was no turnover in holdings in the May quarterly rebalance. With respect to the currency hedged shares the portfolio continues to hedge USD currency exposure – maintaining a net USD exposure at approximately 10% of the Fund’s NAV. This month unhedged long USD exposure was a tailwind as CAD declined 3.5% against the U.S. dollar.

Return to Post Listing

Fields marked with an * are requiredLES CHAMPS MARQUÉS D'UN * SONT OBLIGATOIRES
Fields marked with an * are requiredLES CHAMPS MARQUÉS D'UN * SONT OBLIGATOIRES

ENTER THE WORD "ANTISPAM" INTO THIS BOX
(WITHOUT THE QUOTATION MARKS)