November 2011 investment results

SPP’s net return to members (after administration expenses) for the month of November was 0.27 per cent for the balanced fund (BF) and 0.04 per cent for short-term fund (STF).

Canadian and U.S. equity markets ended the month close to where they began the month, while non-North American equities had more noticeable drops in value.  The Canadian bond markets had positive and stronger performance for the month than equities.

The turmoil in Europe was the most significant driving force behind equity markets, both domestic and international, losing ground over most of November.  In fact, the financial markets have posted mostly negative returns throughout 2011.  In the latter part of November there was some cautious optimism that Europe could finally develop a plan to escape the crisis and this helped markets recover much of what was lost over the month.

Returns to November 30, 2011

Index YTD return (%)
S&P/TSX Capped Composite -7.13
Dex Universe Bond 7.86
S&P 500 3.44
MSCI EAFE -9.23
DEX 91 day T-bill 0.92
SPP Balanced fund -0.44*
SPP Short-term fund 0.97**

*Gross return before administration costs. Year-to-date net for the BF -1.42 per cent

** Gross return before administration costs. Year-to-date net is 0.51 per cent for STF

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