This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Surge Continues For Foreign Equity Funds In April, Morningstar Canada Data Show

TORONTO, May 2, 2013 /CNW/ - The month of April once again saw exceptional returns for foreign equity funds sold in Canada, while domestic equity funds found themselves in negative territory. Thirty-three of the 42 Morningstar Canada Fund Indices had positive results for the month, including increases of more than 2% for eight of the 23 equity fund categories, according to preliminary performance data released today by Morningstar Canada.

The top-performing fund index in April was the one that measures the aggregate performance of funds in the Japanese Equity category; it posted a 7.8% increase for the month, extending its winning streak to six consecutive months. Japan's Nikkei 225 Index posted its best one-month return since December 2009 with an 11.8% gain in local currency terms, as the Bank of Japan began implementing its aggressive monetary easing action. The Japanese yen also continued its downward trend, dropping 4.4% versus the Canadian dollar and tempering returns for Canadian investors.

Also among the top performers were the fund indices that track the Asia Pacific Equity, Global Small/Mid Cap Equity, International Equity, and European Equity categories, with increases of 3.2%, 3.1%, 3.0%, and 2.1%, respectively.

"Mixed economic data globally, including positive real GDP growth for the first quarter in the United States and a disappointing decline in Chinese manufacturing, contributed to a volatile month that concluded with most of the major markets showing improvement," said Morningstar Fund Analyst Achilleas Taxildaris. "European equities fared well after a bailout agreement was reached in Cyprus. The expectation that the European Central Bank will cut interest rates also contributed to the performance of European markets."

Domestic equity funds continued to underperform their international counterparts, with all five Morningstar Canada Fund Indices that track Canadian stock categories posting negative monthly returns. The decreases ranged from 0.1% for the Morningstar Canadian Dividend & Income Equity Fund Index to 1.7% for the Morningstar Canadian Equity Fund Index.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,325.43 +59.44 0.34%
S&P 500 2,018.43 +7.07 0.35%
NASDAQ 4,609.1580 +15.7330 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs