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The High Income Fund returned -0.03% in August lagging its benchmark return of 0.28%. Year-to-date, the Fund is substantially ahead of its benchmark and its one year return is 11.84%. Stocks in Canada returned 1.55% during the month led by precious metals and base commodities. In the United States, stocks declined -2.90%, but the appreciating US dollar reduced the loss to -0.39%. Bonds in Canada (DEX) declined 0.60%, with yields reaching new highs for the year. (more…)