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Portfolio Manager’s March Comment for February Results

In February, the S&P/TSX recorded an increase of 1.8%, the S&P 500 grew by 5.3%, and the MSCI ACWI ex USA saw an increase of 2.5%.

Over the 12-month period ending February 29, the S&P/TSX increased by 9.2%, the S&P 500 did far better and grew by 30.5% while the MSCI ACWI ex USA increased by 13.1%.

In February, the NQICAT increased by 3.7% while it climbed 21.4% on an annual basis.

The best TSX sectors for the month of February were Energy, up 8.0%, Healthcare, up 7.6%, and Industrials, up 5.6%.

The worst performing sectors were Telecom, down 4.7%, Utilities, down 2.3%, and Materials, down 2.1%.

The best monthly performers in NQICAT were GB Global up 21.7%, CCL Industries up 17.7%, and Imperial Oil up 10.7%.

At the opposite, the weakest contributors were Brookfield Infrastructure Partners down 9.4%, Labrador Iron Ore Royalty Corporation down 8.9%, and IA Financial down 7.6%.

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