Hello, 

Summer is in full swing! We hope you have been staying cool during this heat wave! 

As the new season has arrived, and the kids are out of school, it's easy for families to let saving for future studies slip. Focusing on education savings however, should always remain a high priority. In this month's blog post, we've shared the necessary mistakes to avoid when saving for post-secondary school. Have a read below! 

When we're not in the office this summer working on enhancing our clients' portfolios, you'll find us in the community participating in a number of local events and tournaments. We look forward to seeing you at these functions. 

We send our best wishes to Jo-Ann Carlisle this month, as she retires on July 13th. Thank you Jo-Ann, for dedicating the last 23 years at The RaeLipskie Partnership to caring for our clients. 

To stay up to date with the latest financial trends and The RaeLipskie Partnership news, please follow us on Facebook, Twitter, or LinkedIn

May your coming days be filled with sunshine and happy summer adventures! 

Sincerely, 

The RaeLipskie Partnership Team
Monthly Market Data & Commentary
The month of June continued to provide plenty of angst for the stock market. Markets were further buffeted by international-trade conflicts that have threatened at times to escalate into full-out, economy jeopardizing trade wars. Added to that was the usual list of suspects including inflation, interest-rate and currency uncertainty, questions about (non-trade) economic prospects and their impact on corporate profits and, of course, political and geopolitical maneuverings. All in all, not a particularly enticing backdrop for stock markets.
 
Given this setting, it could come as a surprise to casual observers that many stock markets managed to produce quite favourable returns in the month. This group includes the world’s major-market indices with the Canadian market continuing its gains from May, albeit at a somewhat less robust pace. It certainly helped that commodity prices supported the resource stocks, but ten of the eleven major industry groups were positive as well. Further, the TSX even touched a record high in June, the only market to accomplish this feat.
 
The big foreign markets fared well also, with both the U.S. market and the broad EAFE (Europe, Australia, Far East) indices advancing nicely, helped in part by some softening of our Canadian dollar. Emerging markets did not do as well as trade concerns and the strong U.S. dollar had their effects. It is apparent from the above that currencies were mixed with the overriding feature being U.S. dollar strength due to relatively good economic performance, hence more likelihood of higher interest rates coming there.
 
We did experience one higher interest rate in the U.S. as the Federal Reserve Board notched up the Fed Funds rate by a quarter point to a range of 1.75-2.00%. This was the seventh such increase since 2015 and accompanied a comment that “further gradual increases will be consistent with sustained expansion of economic activity”. Our Bank of Canada rate, meanwhile, has risen three times in the past year, to 1.25%, with further moves still likely but more uncertain as trade risks have heightened.  Both bond and preferred returns were slightly positive in the month.
The Mistakes You Should Avoid When Saving for Post-Secondary School 
You already know it's never too early to start saving for your child's education, but are you aware of the common missteps? 
Find out what to avoid on our blog. 
In The News
If you have an older parent or loved one, it's vital for you to be aware of the different types of financial abuse targeting elders.

Here are 5 Ways to Detect Financial Abuse. 
Are you looking to fill your summer reading list? MoneySense has shared 5 books that will transform the way you think about money.

Happy reading! 

 
Thank you to our Clients and Community!
We are honoured to have been nominated for this year's Waterloo Chronicle Readers' Choice Awards for Best Local Investment Company in the Best Business/Service Category. We are grateful for the ongoing support from our clients and fellow community members. If you have a spare moment, we would greatly appreciate your vote! 
Vote here: Best Local Investment Company. 
Proud to support! 
You can find us on the sidelines of the tennis court on July 22nd! We are proud to be presenting this year's Waterloo Tennis Club's Century Invitational which welcomes some of the best tennis talent from Southwestern Ontario. 
For more information on the tournament visit here. 
In and Out of the Office
In early June The RaeLipskie Partnership participated in Red Day. On June 8th we wore red alongside the KW community to support Women's Heart Health. This annual event put on by the St. Mary's General Hospital Foundation raises funds and awareness for this important cause. 
Ken Rae and Brian Lipskie, celebrating with Jo-Ann for her big retirement! Wishing her all the best as she makes her move to beautiful Manitoulin Island.  
Cameron Yule, David Martin, Derek Rae and Mike Cowan at the Golf Fore KidsAbility Classic! 
In Our Community 
The Food Bank of Waterloo Region: The summer tends to be the slowest season for Food Bank donations. Before you head up North for your summer vacation, contribute to those in need of some extra support. 

Nature Canada: Do you have a summer adventure planned? Be sure to snap some pictures of the wildlife you see and enter the Nature Canada Photo Contest! 

Kitchener-Waterloo Art Gallery: Spend an afternoon outside and enjoy the architectural legacy of Kitchener. Tour the Kitchener core on July 22nd and learn about the past and present urban life in your community. 
We Are
Ken Rae, CFA 
Brian Lipskie, CFA 
Ted Brough, CFA 
David Brune, CFA 
Jo-Ann Carlisle, CIM 
Taylor Echlin, F.C.S.I. 
Jim Harper, FCPA, FCA 
David Martin, CIM 
Andréa Miljkovic, CFA 
David Paleczny 
Derek Rae, CIM 
Robin Stanton, CFA
Alex Stoody, CIM
Rick Vandermey, CFA 
The RaeLipskie Partnership provides discretionary fee-only portfolio management for high net worth individuals, endowments and charities.
20 Erb Street West, Suite 201
Waterloo, Ontario N2L 1T2
T 519 578 6849
F 519 578 7269
Toll Free 888 578 7542

1100 Burloak Drive, Suite 300
Burlington, Ontario L7L 6B2
T 905 336 8962
F 519 578 7269
Toll Free 888 578 7542
Copyright © The RaeLipskie Partnership, All rights reserved.

Our mailing address is:
The RaeLipskie Partnership
20 Erb St. West
Suite 201
Waterloo, Ontario N2L 1T2 
Canada

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