Precious Metals, Asian Equity Funds Stand Out in Otherwise Flat January 2017, Morningstar Canada Data Show

TORONTO, Feb. 2, 2017 /CNW/ -- Morningstar Research Inc., a Canadian subsidiary of Chicago-based independent investment research provider Morningstar, Inc. (NASDAQ: MORN), today released preliminary January 2017 performance data for its 44 Morningstar Canada Fund Indices, which measure the aggregate returns of funds in various standard categories. Eighteen of the 44 fund indices increased during the month, though only six indices increased by more than 2%.

Highlights from Morningstar's January 2017 preliminary performance report include:

  • Asian equity funds were the best performers among sector-diversified equity categories. The Morningstar Greater China Equity Fund Index increased 3.2% in January, owing to a strong showing by Hong Kong-listed stocks. Nevertheless, the 6.2% increase of Hong Kong's Hang Seng Index was tempered for Canadian investors by a 3.0% depreciation of the Hong Kong dollar relative to its Canadian counterpart. The Morningstar Asia Pacific ex-Japan Equity and Asia Pacific Equity fund indices were also among the top performers last month with increases of 2.8% and 2.3%, respectively, as was the Morningstar Emerging Markets Equity Fund Index, up 2.5%.
  • Sector-specific fund indices occupied both the top and bottom rungs of the performance ladder for January. The best performer overall was the Morningstar Precious Metals Equity Fund Index, up 11.8%, while the fund index that tracks the Energy Equity category was the worst with a 6.9% decline.
  • In contrast to the top and bottom performers, most fund categories saw little movement in January, with 31 of the fund indices posting movements ranging from a loss of 1.0% to a gain of 1.0%. All five Canadian stock categories were included in that group, with results ranging from a 0.4% increase for the Morningstar Canadian Equity Fund Index to a 0.9% decrease for Canadian Small/Mid Cap Equity. The S&P/TSX Composite Index posted a total return of 0.8% for the month, reflecting solid gains in the basic materials and financial services sectors combined with sharp losses in the energy sector.
  • U.S. stocks outperformed Canadian stocks in January, with the S&P 500 producing a total return of 1.9%. However, these gains were wiped out by currency effects, as the Canadian dollar appreciated 3.0% against the greenback, leading to a 0.7% decrease for the Morningstar U.S. Equity Fund Index. The U.S. Small/Mid Cap Equity fund index was also in the red, down 0.3%.
  • European markets posted modest losses, which were amplified by adverse currency effects, resulting in a 0.6% decrease for the Morningstar European Equity Fund Index in January. Representing the two most diversified equity categories, the International Equity Fund Index was up 0.2% for the month, while Global Equity was down 0.3%.

To view the complete report about Morningstar's preliminary January 2017 performance data for Canadian funds, please visit

Morningstar Canada's preliminary fund performance figures are based on change in funds' net asset values per share during the month, and do not necessarily include end-of-month income distributions. Final performance figures will be published on next week.

About Morningstar Research Inc. and Morningstar, Inc.
Morningstar Research Inc. is a Canadian subsidiary of Chicago-based Morningstar, Inc., a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on nearly 540,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on approximately 18.5 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than US$200 billion in assets under advisement or management as of Sept. 30, 2016. The company has operations in 27 countries.

©2017 Morningstar, Inc. All rights reserved.


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Christian Charest, +1 416 484-7817 or


SOURCE Morningstar Research, Inc.

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