Report shows that 39 of the firm's 44 indices increased
Most Canadian fund sectors gained in November according to a preliminary analysis by Morningstar Research.
Its 44 indices track performance of funds across sector groups and the latest report shows that the index that tracks US Equities gave the best aggregate returns. The index was up 2.9%, underperforming the S&P500 which had total returns of 3.1% for the month. The US Small/Mid Cap Equity Fund Index increased 2.5%.
Across sector-diversified funds, those with around half of their portfolios held in US stocks generally performed best.
The fund index that tracks the Global Small/Mid Cap Equity category saw a 2.0% increase, as well as the North American Equity and Global Equity fund indices, both up 1.7%.
Real estate (2.3% gain), and Financial Services Equity and Global Infrastructure Equity (both up 1.3%) also finished in the top 10 best performers for the month.
Domestic funds weak but increased
The indices tracking Canadian equities were weak but still managed gains, following a 0.5% rise for the S&P/TSX Composite Index.
The Morningstar Canadian Equity Fund Index increased 0.3%, while the Canadian Focused Small/Mid Cap Equity, Canadian Focused Equity, and Canadian Dividend & Income Equity fund indices were up 0.9%, 0.7%, and 0.6%, respectively.
The only domestic equity fund index to slip in November was Canadian Small/Mid Cap Equity, down 0.3%.
Metals, energy lost ground
The Morningstar indices which track precious metals and energy equity funds were the weakest performers in November.
Precious Metals Equity lost 0.5% and the Energy Equity index was off by 0.7%. High Yield Fixed Income and European Equity were both down 0.1% and 0.2%, respectively.
