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Morningstar says Canadian investment funds mostly slipped in January

Tue, 02/02/2010 - 6:01am
The Associated Press

Canadian investment funds posted mostly negative returns in the first month of this year, putting an end to the best showing in more than 15 years in 2009, according to Morningstar Canada.

The Canadian subsidiary of Morningstar Inc. (NASDAQ:MORN) says that 30 of 43 Morningstar Canada Fund indexes declined in January.

That included all but three of the 24 indexes that track equity funds.

The worst performing fund was its precious metals index, posting an 8.1 per cent loss for the month.

Morningstar says the loss in Canadian equities reflected the main index at the Toronto Stock Exchange, which fell 5.3 per cent in January.

International markets started the month ahead, but quickly reversed their course when concerns developed over tighter lending standards in China and new restrictions on U.S. banks.

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