AIC AMERICAN ADVANTAGE FUND $4.04 (CWA Rating: Aggressive) (AIC Group of Funds, 1375 Kerns Road, Burlington, Ont., L7R 4X8, 1-800-263-2144; Web site: www.aicfunds.com. Buy or sell through brokers) invests mostly in U.S. stocks. It holds 99% of its assets in the financial-services area.
The fund’s financial holdings break down as follows: wealth management, 26.8%; life and health insurance, 20.9%; investment banking and brokerage, 11.9%; property and casualty insurance, 11.7%; diversified financial services, 7.3%; diversified banks, 7.1%; multi-line insurance, 6.3%; and consumer finance, 4.8%.
The $30-million AIC American Advantage Fund’s top 10 holdings are JP Morgan Chase, Wells Fargo, AFLAC, Hartford Financial Services, Franklin Resources, Goldman Sachs, Bank of New York Mellon Corp., MetLife, Prudential Financial and Morgan Stanley. This fund holds just 17 stocks.
AIC American Advantage Fund lost 19.1% (in Canadian dollars) in the year ended June 30, 2009. The S&P 500 lost 15.8% (in Canadian funds). Its MER is 2.79%.
AIC American Advantage is a buy.
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