Ethical index takes a hit

  • October 23, 2008
{mosimage}TORONTO - It was a bad month for just about all investors, but a little bit worse for ethical investors in September.

The Jantzi Social Index of 60 Canadian stocks chosen for their environmental, social and governance performance plummeted 15.3 per cent in September, compared with a 13.76-per-cent drop in the S&P/TSX 60 and a 14.45-per-cent slide in the S&P/TSX Composite.
Over the last 12 months the ethical stock index has not done well compared with its closest relative. The Jantzi was modelled on the S&P/TSX 60, which has dropped 11.45 per cent over the last year. That looks pretty good compared to the 16.09 per cent the Jantzi has dropped in the same period.

The Jantzi has always been overexposed to the banks and other financial stocks and underexposed to oil and gas and other materials sector stocks.

In the longer view, Jantzi’s list of more ethically managed companies continues to perform about as well as other indexes. Since January 2000 the Jantzi has grown 65.59 per cent, compared with a 68.31-per-cent gain in the S&P/TSX 60 and a 65.30-per-cent rise in the broader S&P/TSX Composite.

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