In April, the S&P/TSX increased by 2.9%, the S&P 500 rose by 1.6% while the MSCI ACWI ex USA increased by 1.8%.
At the end of the 12-month period ending April 28, the S&P/TSX and S&P 500 grew by the same amount i.e. 2.7% while the MSCI ACWI ex USA increased by 3.6%.
In April, the NQICAT increased by 3.0% while it climbed 10.7% on an annual basis.
The best TSX sectors for the month of April were Healthcare up 6.9%, Telecommunication up 6.6% and Energy up 4.0%.
The worst performing sectors, but still up, were Industrials up 0.6%, Information Technology up 1.2% and Consumer Discretionary up 0.6%.
The best monthly performers in NQICAT were Canadian Natural Resources Ltd. up 11.6%, Arc Resources up 10.8% and Parex Resources up 9.4%.
At the opposite, the weakest contributors were TFI International down 9.2%, Labrador Iron Ore down 3.0% and Enghouse down 2.5%.
We exited from our position in Canfor (CFP) due to its low SP score. We reduced Constellation Software (CSU) in order to reduce the position and manage the concentration risk in the portfolio as the position reached 10.2%. The position was reduced to 9%.
We reinvested 1% in both National Bank (NA) and Toronto-Dominion (TD), for a total of 2%, two high-dividend paying stocks with strong SP scores. We added 0.5% in Richelieu Hardware (RCH), one of the highest SP score of the strategy. As a result, the rebalancing was completed with the purchase of Nutrien Ltd (NTR) as a replacement of Canfor.
