Market Insights > Slice of Pie Newsletter > June 20, Issue No. 142
This month Mike discusses opportunities leading to a record month as the market rallies on hopes of economic recovery
Mike’s update on the May rally which presented plenty of opportunity and broke some Pie records
The Global Smaller Companies Fund was up 7.8% in May, leaving it up 9.5% year to date. The cash level as at 29th May was 23%, down from 24% at the end of April.
The fund was up 8.5% during the month and ended at a record end-of-month high.
The Conservative Fund returned 1.9% during May, benefiting from its equity exposure in some of the other Pie Funds products, which performed well during the month.
Mike and Liam discuss stock market recovery as they react to easing lockdowns.
May was another month of strong returns for equity markets...
June 2020 Fact Sheet
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Product Disclosure Statements
The JUNO KiwiSaver Scheme is owned, managed and issued by Pie Funds. Click to join below.
Past performance is not a guarantee of future returns. No person including the Director of Pie Funds Management Limited guarantees the repayment of units in the funds or any return of units in the funds. Returns can be negative as well as positive and returns over different periods may vary. The JUNO KiwiSaver Scheme is owned, managed and issued by Pie Funds.
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We are taking steps to try to preserve investor capital and take advantage of opportunities, arising from the severe market disruption associated with COVID-19.
To assist with buying into the current severe sell-off we have secured approval from our supervisor for a temporary exception to our Statement of Investment Policies and Objectives (SIPO), to allow us to exceed our maximum number of positions for the following funds:
We sought permission to increased position limits because we believe it will help us better serve our investors’ interests by:
The exemption is in force now. We will review the need for the exception in six months. If market conditions have returned to more normal settings, we will return within SIPO limits.