The rally in natural resources equities that has been the driving force behind Canadian equity funds' performance since the start of 2014 took a breather during the month of May, leading to flat results, on average, for domestic equity funds, according to an "Investor Insight" published by Morningstar on Tuesday.
Funds that invest in U.S. or emerging market stocks had positive results, while European equity funds were unable to stay out of the red, according to preliminary performance numbers released by Morningstar Canada.
It says 15 of the 21 Morningstar Canada Fund Indices that measure the aggregate returns of equity funds were up during the month. One of the indices that failed to achieve a positive return was the one that tracks the Canadian Equity category, which decreased by 0.2%.The other four fund indices that measure the diversified domestic equity categories performed slightly better: Canadian Focused Equity and Canadian Small/Mid Cap Equity were up 0.1% and 0.2%, respectively, while Canadian Focused Small/Mid Cap Equity and Canadian Dividend & Income Equity both increased by 0.5%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
