SCOTIA CANADIAN GROWTH FUND $41.09 (CWA Rating: Conservative) (Scotia Securities, 40 King Street West, 6th Floor, Toronto, Ontario M5H 1H1. 1-800-268-9269; Web site: www.scotiabank.com. No load — deal directly with the bank) attempts to use an investment’s fundamentals to determine whether it has the potential for above-average growth.
The $315.8-million Scotia Canadian Growth Fund’s largest stock holdings include EnCana Corp., Royal Bank, TD Bank, BCE Inc., Potash Corp., Canadian Natural Resources, Suncor Energy, Bank of Nova Scotia and Barrick Gold.
Scotia Canadian Growth holds 43.3% of its portfolio in the resource sector. Its next-largest segment is financial services, at 24.9%.
Over the last 10 years, Scotia Canadian Growth posted a 2.2% annual rate of return. That’s less than the S&P/TSX’s 4.6%. The fund lost 40.3% over the past year, compared to a loss of 38.2% for the S&P/TSX. The fund’s MER is 2.09%.
Scotia Canadian Growth Fund is a buy.
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