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Portfolio Manager’s January Comment for Q4 2023 Results

In Q4, the S&P/TSX recorded an increase of 8.1%, the S&P 500 grew by 11.7%, and the MSCI ACWI ex USA saw an increase of 9.8%.

Over the 12-month period ending on December 31, the S&P/TSX showed an increase of 11.8%, the S&P 500 increased by 26.3%, and the MSCI ACWI ex USA rose by 16.2%.

In Q4, NQICAT experienced an increase of 11.3% and an annual increase of 22.5% in 2023.

The top-performing TSX sectors in Q4 included Information Technology, up by 18.8%, Financial Services, up by 12.7%, and Utilities, which increased by 8.2%.

The worst-performing sectors were Energy, down by 6.8%, Materials, up by 1.9%, and Healthcare, which increased by 3.8%.

The best quarterly performers in NQICAT were goeasy, up by 48.4%, Richelieu Hardware, up by 21.0%, and Stella-Jones, up by 18.4%.

Conversely, the weakest performers were Imperial Oil, down by 9.3%, Arc Resources, down by 9.3%, and Canadian Natural Resources down by 0.1%.

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