Portfolio Manager’s March Comment for February Results

In February, the S&P/TSX and S&P 500 declined by 2.4% while the MSCI ACWI ex USA fell by 3.5%.

At the end of the 12-month period ending February 28, the S&P/TSX decreased by 1.2%, the S&P 500 lost 7.7% while the MSCI ACWI ex USA decreased by 6.7%.

In February, NQICAT declined by 0.7% while it increased by 0.6% on an annual basis.

The best TSX sectors for the month of February were Industrials up 0.8%, Consumer Staples up 0.6% and Financials down 0.5%.

The worst performing sectors were Materials down 8.6%, Energy down 4.3% and Telecommunications down 2.9%.

The best monthly performers in NQICAT were TFI International up 12.4%, and Enghouse up 9.2% and Alimentation Couche-Tard up 5.3%.

At the opposite, the weakest contributors were Canfor down 7.7%, Imperial Oil down 7.2% and Labrador Iron Ore Royalty down 6.9%.