Weak but mostly positive performance for funds in August

Chinese equity funds continue to lead; struggling energy sector hampers Canadian equity funds.

Christian Charest 5 September, 2017 | 5:00PM

Slow, steady and mostly positive was the order of the day for funds in Canada during the month of August, as 35 of the 44 Morningstar Canada Fund Indices, which measure the aggregate returns of funds in various standard categories, posted gains that, for all but five of those indices, were limited to less than 2%. On the other hand, eight of the nine fund indices with negative results were down by 1% or less, according to preliminary performance data released today by Morningstar Canada.

The best-performing fund index for the month was the one that tracks the Precious Metals Equity category, which gained 7.7%. This comes on the heels of four consecutive months of negative performance for that fund index, during which time it lost 7.2%.

The Morningstar Greater China Equity Fund Index was the second-best performer with a 3.9% increase, reflecting strong gains on the Hong Kong and Shanghai stock exchanges as well as well as a 2.5% appreciation of the Chinese currency relative to the Canadian dollar. Funds in this category continue to be the top performers in Canada so far in 2017, with an aggregate gain of 26% since the start of the year. Also benefiting from the strength of Chinese equities in August were funds in the Emerging Markets Equity, Asia Pacific Equity and Asia Pacific ex-Japan Equity categories, whose fund indices were all among the top performers with increases of 2.1%, 1.2% and 1.1%, respectively.

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Christian Charest

Christian Charest  

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