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Portfolio Manager’s September Comment for August Results

By September 2, 2021 No Comments

The S&P/TSX Total Return Index expanded by 1.6% in August, the S&P 500 grew a robust 3.0% and the MSCI ACWI ex. USA increased by 1.9%. At August’s end, the 12-month S&P/TSX Total Return Index was 28.2% behind the S&P500 gain of 31.2% and lower than the MSCI ACWI ex. USA which rose by 25.4%.

In August, the NQICAT increased by 3.0% while it climbed by 30.5% on an annualized basis.

The best TSX sectors for the month of August were Information Technology up 8.9%, followed by Industrials up 3.4%, and Telecommunication services up 3.0%.

At the opposite, the worst performing sectors were Materials down 3.0%, Energy down 1.5% and Consumer Discretionary down 1.4%.

The best performers in August were goeasy up 14.5%, Canfor up 12.4% and Canadian National Railway up 9.5%.

On the other hand, the weakest contributors were Kirkland Lake Gold down 5.7%, Stella-Jones down 4.7% and Dollarama down 2.0%.