SCOTIA CANADIAN GROWTH FUND $47.00 (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 $394.5-million Scotia Canadian Growth Fund’s largest stock holdings include Royal Bank, TD Bank, Potash Corp., Canadian Natural Resources, Canadian National Railway, Bank of Nova Scotia, Crescent Point Energy and Manulife Financial.
Scotia Canadian Growth holds 43.3% of its portfolio in the resource sector. Its next-largest segment is financial services, at 27.9%.
Over the last 10 years, Scotia Canadian Growth posted a 3.7% annual rate of return. That’s less than the S&P/TSX’s 6.5%. The fund lost 23.6% over the past year, compared to a loss of 17.7% for the S&P/TSX. The fund’s MER is 2.09%.
Scotia Canadian Growth Fund is a buy.
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