Harbour Has Cash to Spend

Article Excerpt

HARBOUR FUND $21.52 (CWA Rating: Conservative) (C.I. Mutual Funds, 151 Yonge St., 7th Floor, Toronto, ON M5C 2W7. 1-800-268-9374; Web site: www.cifunds.com. Load fund — available from brokers) invests in only 25 to 40 high-quality mostly Canadian stocks, and it may hold stocks for four or five years to realize their value. The $5.7 billion Harbour Fund’s top holdings include Bank of Nova Scotia, Canadian National Railway, Goldcorp Inc., Suncor Energy, General Electric, EnCana Corporation, Petro-Canada, Rio Tinto, Talisman Energy and BHP Billiton. The Harbour Fund gained 0.5% over the last year. The fund’s five-year return averages 15.2% annually. Its MER is 2.33%. Harbour Fund holds a high 20% of its total assets in cash. We don’t like the market timing aspect of holding a high cash balance, but it does give it the funds to look for bargains. Harbour Fund is still a buy. buy…