CIBC CANADIAN EQUITY FUND $27.83 (CWA Rating: Conservative) (CIBC Securities, 5140 Yonge Street, Suite 900, Toronto, Ontario M2N 6X7. 1-800-631-7008; Website: www.cibc.com. No load — deal directly with the company.) uses a “bottom-up” approach (using fundamentals such as earnings, cash flow and low debt) to identify companies that trade at reasonable valuations and also have growth potential.
The $560.8 million fund’s top holdings are EnCana, Manulife Financial, Research in Motion, Bank of Nova Scotia, TD Bank, Teck Cominco, Suncor Energy, Canadian Natural Resources and Petro-Canada. The fund’s MER is 2.22%.
CIBC Canadian Equity holds 40.3% of its portfolio in Resource sector stocks and 31.5% in Financial services stocks.
The fund’s 10-year annualized gain is 4.9%, compared to 8.1% for the S&P/TSX. CIBC Canadian Equity made just 0.6% over the last year, compared to a gain of 6.6% for the S&P/TSX.
CIBC Canadian Equity Fund is a buy.
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