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Jantzi Index just behind S&P, TSX
Catholic Register Staff
May 1, 2007
TORONTO - Buoyed by a big bank but pulled down by its lack of oil stocks, the Jantzi Social Index fell off the pace set by mainstream stock indexes in March.
The Canadian socially responsible stock index of 60 Canadian companies grew by one per cent in March, compared to a 1.39-per-cent jump in the S&P/TSX 60 and a 1.17-per-cent climb in the broader S&P/TSX Composite.
Over the last 12 months the Jantzi has grown 11.89 per cent – half a percentage point less than the S&P/TSX 60 at 12.38-per-cent growth, but better than the S&P/TSX Composite's 11.42 per cent. In just over seven years since the JSI started in January of 2000, the index that picks stocks based on environmental, labour rights and community engagement performance measures as well as corporate governance standards has outduelled the numbers-only mainstream indexes with 81.53-per-cent growth, compared to 71.38 per cent for the S&P/TSX 60 and 77.15 per cent for the S&P/TSX Composite.
Over the last two years the oil price surge has propelled the Toronto Stock Exchange, which is heavily weighted in favour of raw materials, especially oil. By limiting its own energy stock selections to the best in sector in terms of environmental performance, the JSI largely misses out on the bonanza.
In March, the Jantzi Index's selection of the Royal Bank of Canada, a signatory to the Equator Principle – a worldwide agreement of major lenders to review the environmental impacts of major projects before financing work on them – made a significant positive contribution.
Over the last 12 months the Jantzi has grown 11.89 per cent – half a percentage point less than the S&P/TSX 60 at 12.38-per-cent growth, but better than the S&P/TSX Composite's 11.42 per cent. In just over seven years since the JSI started in January of 2000, the index that picks stocks based on environmental, labour rights and community engagement performance measures as well as corporate governance standards has outduelled the numbers-only mainstream indexes with 81.53-per-cent growth, compared to 71.38 per cent for the S&P/TSX 60 and 77.15 per cent for the S&P/TSX Composite.
Over the last two years the oil price surge has propelled the Toronto Stock Exchange, which is heavily weighted in favour of raw materials, especially oil. By limiting its own energy stock selections to the best in sector in terms of environmental performance, the JSI largely misses out on the bonanza.
In March, the Jantzi Index's selection of the Royal Bank of Canada, a signatory to the Equator Principle – a worldwide agreement of major lenders to review the environmental impacts of major projects before financing work on them – made a significant positive contribution.