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Portfolio Manager’s December Comment for November Results

In November, the S&P/TSX grew by 5.5%, the S&P 500 rose by 5.6% while the MSCI ACWI ex USA surged by 11.8%.

At the end of the 12-month period ending November 30, the S&P/TSX increased by 2%, the S&P 500 decreased by 9.2% while the MSCI ACWI ex USA fell by 11.4%.

In November, NQICAT increased by 6.8% while it increased by 5.5% on an annual basis.

The best TSX sectors for the month of November were Materials up 11%, Information Technology up 7.7% and Industrials up 6.3%.

The worst performing sectors were Energy down 0.8%, Utilities down 0.6% and HealthCare down 0.3%.

The best monthly performers in NQICAT were EQB Inc. (EQB) up 24.6%, Labrador Iron Ore (LIF) up 20.5% and TFI International (TFII) up 17.7%.

At the opposite, the weakest contributors were Parex Resources (PXT) down 7.3%, Intact Financial Corporation (IFC) down 2.8% and Canadian Natural Resources (CNQ) down 1.7%.

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