Buoyant stock markets in many parts of world lit a fire last month under equity funds of all stripes.
Canadian stock funds climbed an average of 3.9 per cent in March. But that gain was not quite as robust as the benchmark Toronto Stock Exchange 300 Index, which climbed 4.8 per cent based on total return. The market last month was propelled by stocks in the oil and gas, paper and forest products, and communications and media sectors.
Over the past year, however, the group is off an average of 10.5 per cent.
Big gainers in March included the $4.5-million Trans-Canada Value (Sagit) Fund, rising 39.3 per cent; the $8.2-Mackenzie Sentinel Canada Equity Fund, up 12 per cent, and the $1.3-billion Altamira Equity Fund, up 8.4 per cent.
The recent gain has pushed the former lagging fund into the top quartile in performance among Canadian equity funds with a one-year loss of 4.8 per cent.
Altamira Equity is being run by lead manager Ian Ainsworth along with co-managers Shauna Sexsmith and Susan Coleman. The team took over the fund last May from former high-profile manager Frank Mersch.
Over one year, the top performers among Canadian stock funds include the Trans-Canada Value (Sagit) Fund, which shot up 50.6 per cent; the $109-million Transamerica Growsafe Canadian Equity, which rose 8.9 per cent, and the $57-million Synergy Canadian Momentum Class, up 6.7 per cent.
The worse performers over one year include the $8.4-million Marathon Performance Large Cap Canadian Equity Fund, down 29.6 per cent; the $445.6-million Industrial Growth Fund, off 28.7 per cent and the $67.4-million Merrill Lynch Canadian Equity Fund, down 28.6 per cent.
Canadian small-capitalization funds gained an average of 4.1 per cent last month. This group, however, has lost an average of 18.8 per cent over one year.
Some of the winners last month included the $3.2-million Cambridge Special Equity (Sagit) which jumped 13.2 per cent; the $365.3-million 20/20 RSP Aggressive Smaller Company Fund, which rose 9.7 per cent, and the $241.6-million 20/20 RSP Aggressive Equity Fund, up 7.8 per cent.
Over one year, some of the worst performers include the $6.9-million Cambridge Growth Fund (Sagit), which plunged 38.6 per cent; the $28.4-million Atlas Canadian Emerging Growth Fund, which sank 37.3 per cent and the $205-million BPI Canadian Small Companies Fund, off 33.8 per cent.
Resource/precious metals funds rose an average of 8.3 per cent last month, fuelled by a resurgence by oil stocks. The oil sector came roaring back as the price of crude oil lifted off 12-year lows below $12 (U.S.) a barrel in December, closing at $16.76 at the end of March.
Over the past year, resource/precious metals funds are still off a dismal average of 26.8 per cent.
The $6.5-million C.I Global Energy surged 32.1 per cent last month; the $1.5-million NCE Canadian Energy Growth jumped 27.6 per cent, and the $229.8-million Royal Energy Fund rose 24.8 per cent.
Over the past year, some of the worse performers in this category have been The $4.2-million Cambridge Resource (Sagit), which has plummeted 56.1 per cent; the $27.4-million Dynamic Global Resources Fund, off 46.7 per cent, and the $6.8-million O'Donnell World Precious Metals Funds, down 42.7 per cent.
Asian and Pacific Rim Funds -- which had a rough ride last year -- enjoyed an upbeat month as the group rose an average of 9.4 per cent in March. The Japanese market enjoyed a resurgence last month on the hopes that the government is coming to grips with a stumbling economy. Over the Asian and Pacific Rim funds, however, have lost an average of 0.6 per cent.
Big gainers last month included the $45.3-million 20/20 India Fund, climbing 23 per cent, and the $23.7-million Universal Japan Fund, up 19.9 per cent.
Over one year, the winners include the 20/20 India Fund, up 48.5 per cent; the $162.4-million Fidelity Japanese Growth Fund, which climbed 32.2 per cent, and the $1.2-million McDonald New Japan Fund, up 29.6 per cent.
The best performing category last month was Latin and emerging markets funds which surged an average of 12.6 per cent. Over the past year, the group has lost an average of 24.1 per cent.
Last month, the $106.2-million 20/20 Latin American Fund climbed 31.2 per cent; the $13.8-million Aim GT Latin American Growth Class jumped 25.2 per cent and the $33.3-million Green Line Latin American Growth Fund rose 24.2 per cent.
The only fund in positive territory over one year is the $821,000- McDonald Emerging Economies Fund, up 7.7 per cent. Some of the funds near the bottom of the heap include the $106.2-million 20/20 Latin America Fund, down 48.1 per cent and the $287.2-million C.I. Latin American Fund, down 34 per cent.
U.S. equity funds rose an average of 3.4 per cent last month, bringing the one-year average return to 13 per cent.
In March, the $412.8-million 20/20 Aggressive Growth Fund surged 19.8 per cent and the $83.7-million Maxxum American Equity Fund climbed 11.6 per cent.
Over one year, the $3.2-million Cambridge American Growth Fund (Sagit) has soared 131.1 per cent while the $184.4-million Transamerica Growsafe US 21st Century Fund has shot up 117.1 per cent.
Sector funds also enjoyed an average gain of 4.1 per cent last month. Over the year, the group gained a robust 17.8 per cent.
The $26.1-million 20/20 Managed Futures Value Fund surged 31.6 per cent; the $101.4-million Altamira e-business Fund rose 24.6 per cent and the $75.6-million Aim Global Technology Fund climbed 20.5 per cent.
Over one year, the best performers include the $248.2-million C.I. Global Telecom Sector Shares, which has gained an eye-popping 81.4 per cent and the $222.3-million Fidelity Focus Technology Fund, up 68.2 per cent.