Funds Have Solid Showing

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    After a strong start to the new year in January, investment funds in Canada had another solid showing in February as all but one of the 24 Morningstar Canada Fund Indices that track equity categories had positive results for the month. Its preliminary performance data show 18 had increases of more than two per cent and all 11 balanced fund indices were also in the black. Foreign equity markets generally outperformed their Canadian counterparts last month and, as a result, foreign equity funds dominated the rankings. The best performer was the one that measures the European equity category which rose by five per cent. Among domestic equity funds, the Canadian equity fund index rose by 1.7 per cent in February, matching the return of the S&P/TSX Composite Index.