Chief Executive Officer Ryan Volk Chief Investment Officer Matthew Hoffer Chief Financial Officer Mark Richardson Chief Economist Ronald Chow
Current Holdings Total Cost
Current Price
Total Market Value
% Change
26
$1,161.42
$41.54
$1,080.04
-7.01%
$83.35
22
$1,833.70
$81.20
$1,786.40
-2.58%
Potash Corporation of Saskatchewan.
$43.06
25
$1,076.50
$39.99
$999.75
-7.13%
Enbridge Inc.
$62.15
25
$1,553.75
$64.82
$1,620.50
+4.30%
Husky Energy Inc.
$27.24
36
$980.64
$27.54
$991.44
+1.10%
Royal Bank of Canada
$77.50
25
$1,937.50
$80.76
$2,019.00
+4.21%
iShares Cndn Short Term Bond Fund
$28.98
27
$782.46
$28.85
$778.95
-0.45%
Purchase Price
# of Shares
Rogers Communications
$44.67
Canadian National Railway
Stock Name
Cash
$16,352.12
$16,825.97
+2.90%
TOTAL
$25,782.34
$26,102.05
+1.24%
The Update
April 19, 2015, 9:00 AM
Crescent School Investment Team
Sector Performance Diversified
Industrials
Energy
Financials
CSIT
BM
CSIT
BM
CSIT
BM
CSIT
BM
% Change – Past Week
-4.44%
-3.55%
-2.45%
-1.28%
+1.56%
+2.11%
-0.59%
+0.52%
% Change – Past Month
-4.94%
-6.10%
-2.01%
-2.12%
+6.97%
+9.43%
+1.43%
+3.53%
% Change – Past Three Months
-7.01%
-0.87%
-4.26%
-0.86%
+3.06%
+6.81%
+4.21%
+7.92%
% Change – Since Inception
-7.01%
+19.40%
-4.26%
-2.81%
+3.06%
-7.97%
+4.21%
-1.63%
Portfolio Performance CSIT Portfolio
Crescent TSX 60 Benchmark
*Red Line*
*Blue Line*
% Change – Past Week
-0.27%
-0.23%
% Change – Past Month
+0.93%
+1.44%
% Change – Past Three Months
+1.16%
+2.48%
% Change – Since Inception
+1.24%
+0.89%
The Update
April 19, 2015, 9:00 AM
Crescent School Investment Team
Comments: Over the past two weeks, we executed four sell orders. We sold our shares of Canadian Tire (+6.88%), CGI Group (+5.72%), Bank of Nova Scotia (+5.06%) and Toronto-Dominion (+10.36%). These trades explain why our “Cash” balance seemingly increased in “% Change”. In terms of our current holdings, Rogers Communication and Potash Corporation of Saskatchewan turned in the opposite direction we had anticipated, both now registering losses of -7.01% and -7.13% respectively. Meanwhile, Enbridge and Husky have continued to inch higher, whereas Canadian National Railway inched downwards. Royal Bank of Canada has passed our desired +4% plateau, and we are now looking for an exit strategy. These changes over the past two weeks are impressive, considering the market just came off a losing week, whereas our portfolio barely registered losses to a “lesser degree” during the same time frame. As a result, we are now a healthy +0.35% ahead of our benchmark (+1.24% vs +0.89%) - Ronald Chow, Chief Economist With the closing of our year coming soon, we need to start thinking about liquidation of all of our investments. We have decided not to purchase any more stocks for the rest of the year. That being said, we have also just approved two new investments: Arc Resources Inc. (ARX) and Yamana Gold Inc. (YRI). These approvals were meant to be a learning opportunity. Although the 2014-2015 year is coming to an end quickly (11 days until May), we have yet to liquidate the rest of our portfolio. At the moment, we are set on selling Royal Bank of Canada (RY) and Enbridge Inc. (ENB) in the near future. We can proudly say that the consistent positive margin in our portfolio has given us enough evidence to speak for the commendable performance of the Investment Team this year. - Mark Richardson, Chief Financial Officer
Executive Team: Ryan Volk, Chief Executive Officer ryanvolk@crescentschool.org Matthew Hoffer, Chief Investment Officer matthewhoffer@crescentschool.org Mark Richardson, Chief Financial Officer markrichardson@crescentschool.org Ronald Chow, Chief Economist ronaldchow@crescentschool.org Mr. Gavin Muranaka gmuranaka@crescentschool.org Mr. Michael Stephens mstephens@crescentschool.org Ms. Mita Bhattacharyya mbhattacharyya@crescentschool.org
The Update
April 19, 2015, 9:00 AM