general electric

S&P DEPOSITORY RECEIPTS $148 (American Exchange symbol SPY; buy or sell through brokers) are commonly called ‘Spiders’. The fund holds the stocks in the S&P 500 Index. This index is comprised of 500 major U.S. stocks chosen for market size, liquidity, and industry group representation....

The best exchange-traded funds (ETFs) offer well-diversified, tax-efficient portfolios with very low management fees. Due to buyback and share issue arrangements, ETFs always trade close to their net asset value. Here are some of the best deals available in ETFs. We’ve also analysed one we don’t like. ISHARES CDN LARGECAP 60 INDEX FUND $79.86 (Toronto symbol XIU; buy or sell through a broker) (formerly called iUnits S&P/TSX 60 Index Participation Fund) is a good low-fee way to buy the top stocks on the TSX. The units hold a basket of stocks that represent the S&P/TSX 60 Index. The index is made up of the 60 largest and most heavily traded stocks on the TSX. Expenses on the units are just 0.17% of assets....

BECKMAN COULTER INC. $72 (New York symbol BEC; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 62.6 million; Market cap: $4.5 billion; WSSF Rating: Average) rose to $77 in July after a competitor accepted a takeover offer from Germany’s Siemens AG. Investors felt that Beckman, which has no controlling stockholder and a loyal customer base, would make an attractive target for a larger medical products company, or a conglomerate like General Electric. Regardless of takeover possibilities, Beckman continues to expand its sales and profits. In the second quarter of 2007, sales grew 11.9%, to $689.7 million from $616.3 million a year earlier. It earned $0.75 a share (total $47.8 million) before unusual items, up 8.7% from $0.69 a share ($43.8 million). Beckman spends around 9% of its sales of $41.60 a share on research, so it’s more profitable than it appears. Beckman is now selling more low-margin lab systems, which could hurt its profit growth. But that should spur demand for supplies, which provide stability and cut risk. Cost cuts should also aid future earnings. For example, Beckman’s upcoming relocation of one of its main plants will save it $7 million a year....

UNITED CORPORATIONS $68.80 (Toronto symbol: UNC) (165 University Ave., 10th Floor, Toronto, ON M5H 3B8. 416-947-2583. Buy or sell through a broker) invests in a wide variety of average-quality to above-average quality Canadian and foreign stocks. At last report, 31.2% of the fund’s $1.1 billion portfolio was invested in Canadian equities, 26.0% in the U.S., 21.2% in Europe, 8.0% in the UK, 11.7% in Asia and 1.4% in Mexico and Latin America. The fund’s largest holdings included Bank of Nova Scotia, Royal Bank of Canada, Manulife, Talisman Energy, Algoma Central Corporation, Nexen, TransCanada Corporation, General Electric, TD Bank and Chevron....

TRIMARK U.S. COMPANIES FUND $5.88 (CWA Rating: Conservative) invests in U.S. companies that the managers see as inexpensive in relation to earnings, cash flow and other valuation measures. The top holdings of this $107.7 million fund are Merrill Lynch, Wells Fargo & Co., Target Corporation, Ametek Inc., KLA-Tencor, Paxair, Affilitated Managers Group, Omnicom Group, PepsiCo and General Electric. The fund’s one-year gain in Canadian dollars is 7.5%, compared to the S&P 500’s gain of 13.8% in Canadian funds. Its MER is 2.59%. Trimark U.S. Companies Fund is still a buy.

Here are two funds offered by Trimark. We rate both as conservative. Both cut risk by investing in high-quality, large-capitalization stocks. Note that the two funds emphasize different areas of the economy: Trimark Canadian has 26.8% of its holdings in financial services; its next largest holding is in consumer discretionary (consumer companies sensitive to economic cycles such as autos, leisure, hotels, consumer retailing) at 16.5%. Trimark U.S. Companies’ largest allocation is in financial services at 19.5%, followed by health care at 17.6%. TRIMARK CANADIAN FUND $25.19 (CWA Rating: Conservative) (AIM Funds Management, 5140 Yonge Street, Suite 900, Toronto, Ontario M2N 6X7. 1-800-631-7008; Website: www.aimfunds.ca. Buy or sell through brokers.) uses a bottom-up stock-picking style, focusing on fundamentals like earnings, cash flow and low debt....

ECONOMIC INVESTMENT TRUST $99 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks. The $691.3 million fund’s largest holdings include E-L Financial, Algoma Central Railway, Chevron, Toyota Motor, Comcast, ConocoPhillips, General Electric, Posco, Renault, Citigroup and Sumitomo Mitsui Financial Group. The fund breaks down geographically as follows: Canada, 46.3%; the U.S., 18.6%, Europe, 19.8%, Asia, 14.4%; and Latin America, 1.1%....

S&P DEPOSITORY RECEIPTS $144 (American Exchange symbol SPY; buy or sell through brokers) are commonly called ‘Spiders’. The fund holds the stocks in the S&P 500 Index. This index is comprised of 500 major U.S. stocks chosen for market size, liquidity, and industry group representation....

The best exchange-traded funds (ETFs) offer well-diversified, tax-efficient portfolios with very low management fees. Due to buyback and share issue arrangements, ETFs always trade close to their net asset value. Here are some of the best deals available in ETFs. We’ve also analysed one we don’t like. ISHARES CDN LARGECAP 60 INDEX FUND $76.72 (Toronto symbol XIU; buy or sell through a broker) (formerly called iUnits S&P/TSX 60 Index Participation Fund) is a good low-fee way to buy the top stocks on the TSE. The units hold a basket of stocks that represent the S&P/TSX 60 Index. The index is made up of the 60 largest and most heavily traded stocks on the TSE....

ECONOMIC INVESTMENT TRUST $78 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks. The $602.4 million fund’s largest holdings include E-L Financial, Algoma Central Railway, Bank of America, Toyota Motor, Hewlett-Packard, ConocoPhillips, General Electric, Posco, Citigroup and Sumitomo Mitsui Financial Group. The fund breaks down geographically as follows: Canada, 48.2%; the U.S., 18.7%, Europe, 18.8%, Asia, 13.4%; and Latin America, 1.1%. Economic Investment Trust now trades at a high 26% discount to its net asset value. The trust pays an annual dividend of $0.60 a share (for a current yield of 0.8%). It also pays periodic capital-gains dividends....