Putting it lightly, January was an ugly month for investors, and while the portfolios all outperformed their benchmarks, each finished the month in negative territory.
You can download our standard monthly portfolio report here. For those looking for even more detail, I am also providing additional reports generated from Morningstar which show even more detail regarding the portfolios. A summary report can be downloaded here, while the more detailed report can be downloaded here.
As you would expect, the Growth Portfolio was hardest hit, dropping 3.0%, compared with its benchmark which was down 3.1%. Strong relative showings from the Mackenzie Ivy Foreign Equity Fund and the Fidelity Canadian Large Cap Fund modestly offset disappointing months from the tech heavy TD U.S. Blue Chip Equity Fund, and the Sentry Small Mid Cap Income Fund.
The Balanced Portfolio lost half what the Growth Portfolio did, ending the month 1.5% lower, just slightly outpacing its benchmark. Again, it was the Canadian and global equity funds that were the main contributors, offsetting poor showings from the fixed income and U.S. equity holdings.
The best performing portfolio in the volatile month was our Conservative Portfolio, which lost 0.53%, compared with its benchmark’s 0.76% loss. The bond funds all slightly underperformed, but this was more than offset by the Mackenzie Ivy Foreign Equity Fund and the Fidelity Canadian Large Cap Fund.