AIC AMERICAN ADVANTAGE FUND $5.70 (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, with over 99% of assets in the financial services area.
The fund’s holdings in this segment break down as follows: Property & casualty insurance companies, 20.9%; Life & health insurance, 15.0%; Multi-line insurance, 14.5%; Investment banking & brokerage, 12.5%; Diversified financials, 9.1%; Diversified banks, 9.0%; Wealth management, 7.7%; and Consumer finance, 7.1%.
The $48.9 million AIC American Advantage’s top 10 holdings are AEC Limited, AFLAC, Hartford Financial Services, Prudential Financial, JP Morgan Chase, Wells Fargo, American Express, American International Group, Merrill Lynch & Co. and The Progressive Corporation. This fund holds just 17 stocks.
AIC American Advantage lost 29.2% in Canadian dollars over the last year, compared to a loss of 14.4% for the S&P 500 in Canadian funds. Its MER is 2.76%.
AIC American Advantage is a buy.
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