The Canadian market outpaced the rest of the world in April according to the latest index data from Russell Investments.
The firm reported Wednesday that the Russell Global ex-Canada Index gained 12.5% in April, whereas the Russell Canada Index increased 14.3% for the month.
The biggest returns from the Canadian index came in the technology sector, up more than 50% in the month. Financial services was a distant second with a 22.7% gain, but it led the ex-Canada index, gaining 21.1%
“The ex-Canada set of global indexes offers effective tools for Canadian investors to monitor the international component of their portfolio,” says Sadiq Adatia, Russell Investments’ chief investment officer for Canada.
“Looking at the material and processing sector, for example, Canadian equities in this sector increased 0.2% for the month while those in the international market grew 11.3%. The reverse was true of health care, where that sector in the Canadian market showed an 11.3% increase for April and a slightly positive 0.9% gain for the international market,” Adatia noted. “The full global picture allows us to see relative strengths and weaknesses in the Canadian market and perhaps find opportunities for diversification.”
Combined, the two indexes cover 98% of the total global market capitalization, Russell notes.
Combined, these two indexes offer Canadian investors a seamless picture of the global equity opportunity set, covering 98% of total global market capitalization.
http://www.russell.com/indexes/about/articles/commentary/Global_May_2009_Commentary.asp
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