10 year results to September 30th 2015

The returns from the Undervalued and Overvalued lists are compared to the 10 year returns in the Globe & Mail univerese of US equity funds.  Without income or management fees the average annual returns of +9.29% and +4.89% would have ranked in the 97th and 42nd percentiles for a spread of 55.

This compares to the 99th and 39th percentile ranks respectively  for 10 year results a year ago.