Canadian Mutual Funds Up In October

November 14, 2002 ( - US stocks helped to drive Canadian mutual funds higher in October, according to a Morningstar report of its Canadian Fund Indices.

October saw increases in 22 of the 32 Morningstar Canadian Fund Indices.   The top performing index was the Science and Technology Fund Index gaining 13.2% in October.   Additionally, the US Equity Index was up 5.9% and the Canadian Equity Fund Index gained 1.3%.

The US Equity Index was helped by gains in Citigroup, Inc. and Microsoft Corp., up 25.0% and 22.0% respectively. The Canadian Equity Fund saw 4 out of its 10 most widely held decline, but was boosted with gains in its top holding Thomson Corp., up 10.0%

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

Declines were recorded in precious metals, Japanese equities and Asia Pacific Rim equities, losing 10.0%, 8.1% and 3.2%, respectively.

Further Canadian fund analysis can be found at .