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BANK OF NOVA SCOTIA $27.59 (Toronto symbol BNS: Shares outstanding: 991.9 million; Market cap: $27.4 billion; SI Rating: Above Average) is taking advantage of the depressed prices of banks around the world to increase its stake in Thailand’s Thanachart Bank from 24.98% to 49%. That’s the regulatory limit for foreign banks in Thailand.
Thanachart is Thailand’s eighth-largest bank by assets, and …read more »
PENGROWTH ENERGY TRUST $6.82 (Toronto symbol PGF.UN; Shares outstanding: 256.5 million; Market cap: $1.7 billion; SI Rating: Average) has cut its monthly distribution by 41.2%, to $0.10 a unit from $0.17. The cut will let it conserve cash until oil and natural gas prices rebound. Despite the reduction, the new annual rate of $1.20 still yields a high 17.6%.
The lower …read more »
TEMPLETON EMERGING MARKETS FUND $7.87 (New York symbol EMF; CWA Fund Rating: Speculative) is a closed-end fund that invests in equities from emerging economies. Franklin Templeton manages the fund.
Templeton Emerging Market Fund’s holdings are spread around the world. Although volatile, the fund gives investors access to countries like Brazil, China, India and others that still have strong growth prospects.
The $187.6-million …read more »
NEW GERMANY FUND $5.90 (New York symbol GF; CWA Fund Rating: Speculative) is a closed-end fund that invests mostly in small and mid-cap German equities. The fund’s manager is Deutsche Asset Management.
The $198-million fund’s 52 holdings operate in Germany (91%) and the Netherlands (9%).
The New Germany Fund’s top holdings are Fresenius (health care equipment & supplies), 6.8%; European Aeronautical Defense …read more »
KOREA FUND $18.27 (New York symbol KF; CWA Fund Rating: Speculative) is a closed-end fund that invests at least 80% of its assets in Korean equities. Currently, all of its assets are in South Korean stocks. RCM Asia Pacific manages the fund.
Korea Fund’s top holdings are Samsung Electronics at 9.9%; KT&G Corporation (a cigarette maker), 4.7%; KT Corporation (telecommunications), 4.2%; …read more »
CENTRAL EUROPE AND RUSSIA FUND $12.38 (New York symbol CEE; CWA Fund Rating: Speculative) is a closed-end fund that invests mostly in larger cap stocks from Russia and central Europe. The fund’s manager is Deutsche Asset Management.
The $314-million fund’s 62 holdings are currently invested in Russia (49%), Poland (16%), Turkey (12%), Czech Republic (12%), Hungary (4%), U.S. (4%) and Austria …read more »
We’ve long advised that investing outside of Canada and the United States can expose you to increased volatility and risk. The sharp downturn in many foreign markets during the current global slowdown proves this. But there are still regions or countries that offer lots of growth potential.
We still think that for most investors, the best way to invest in these …read more »
ENCANA CORP. $50.27 (Toronto symbol ECA; Shares outstanding: 750 million; Market cap: $37.7 billion; SI Rating: Average) earned $4.4 billion before unusual items in 2008, up 7.4% from $4.1 billion in 2007. Earnings per share rose 9.3%, to $5.86 from $5.36 on fewer shares outstanding. Cash flow per share rose 12.8%, to $12.48 from $11.06. A 6% rise in production, …read more »
ALGONQUIN POWER INCOME FUND $2.39 (Toronto symbol APF.UN; Units outstanding: 77.6 million; Market cap: $185.6 million; SI Rating: Extra Risk) owns or has interests in 41 hydroelectric facilities — 13 in New York State, 12 in Quebec, nine in New England, four in Ontario, one in Alberta, one in New Jersey and one in Newfoundland. This gives Algonquin total hydroelectric …read more »
POWER CORPORATION $17.23 (Toronto symbol POW; Shares outstanding: 407.5 million; Market cap: $7.0 billion; SI Rating: Above Average) is a diversified holding company. It controls one of Canada’s largest mutual-fund companies, IGM Financial, and Great-West Lifeco, one of the country’s largest life insurers.
Power Financial, 66.4% held, is a holding company for Power Corp.’s financial assets, which include 72.9% of Great-West …read more »
