AIC AMERICAN ADVANTAGE FUND $7.73 (CWA Rating: Aggressive) (AIC Group of Funds, 1375 Kerns Road, Burlington, Ont., L7R 4X8, 1-800-263-2144; Web site: www.aicfunds.com. Buy or sell through brokers) invests mostly in U.S. stocks, with over 99% of assets in the financial services area.
This segment breaks down as follows: Life & health insurance, 17.8%; Property & casualty insurance companies, 14.2%; Investment banking & brokerage, 13.2%; Multi-line insurance, 12.9%; Diversified banks, 10.9%; Diversified financials, 6.7%; Wealth management, 6.6%; Insurance brokers, 6.2%; Consumer finance, 4.3%; Regional banks, 3.6%; Thrifts & mortgage finance, 3.5%; and Conglomerates, 0.8%.
The $115.5 million AIC American Advantage’s top 10 holdings are Morgan Stanley, JP Morgan Chase, American International Group, Manulife Financial, AFLAC, Hartford Financial Services, TD Bank, Northern Trust, Merrill Lynch and Willis Group Holdings. This fund holds just 19 stocks.
AIC American Advantage made 12.0% in Canadian dollars over the last year, compared to a gain of 19.1% for the S&P 500 in Canadian funds. Its MER is 2.75%.
AIC American Advantage is a buy.
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