CIBC CANADIAN EQUITY FUND $18.87 (CWA Rating: Conservative) (CIBC Securities, 5140 Yonge Street, Suite 900, Toronto, Ontario M2N 6X7. 1-800-631-7008; Website: www.cibc.com. No load — deal directly with the company.) uses a “bottom-up” approach (using fundamentals such as earnings, cash flow and low debt) to identify companies that trade at reasonable valuations and also have growth potential.
The $450.5 million fund’s top holdings are Manulife Financial, EnCana, Research in Motion, Bank of Nova Scotia, TD Bank, Potash Corp., Suncor Energy, Canadian Natural Resources and CN Railway. The fund’s MER is 2.20%.
CIBC Canadian Equity holds 38.8% of its portfolio in Resource sector stocks and 33.5% in Financial services stocks.
The fund’s 10-year annualized gain is 6.2%, compared to 9.7% for the S&P/TSX. CIBC Canadian Equity lost 19.5% over the last year, compared to a loss of 14.4% for the S&P/TSX.
CIBC Canadian Equity Fund is a buy.
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