investment

Over the past few years, the Philippines has often made news headlines for the activities of its outspoken President. But the country also experienced a decade of strong economic growth—at least until the Covid-19 pandemic hit in 2020.


Here is one ETF that provides you with exposure to the top companies listed in the Philippines.


ISHARES MSCI PHILIPPINES ETF $31.90 (New York symbol EPHE; TSINetwork ETF Rating: Aggressive; Market cap: $128.1 million) tracks the performance of the largest publicly listed Philippine companies.


Industrial companies account for 31% of this ETF’s assets, while Real Estate (24%), Financials (16%), Utilities (7%), Consumer Discretionary (7%), and Communications (6%) are other key segments.


The ETF holds a portfolio of 40 stocks; the top 10 holdings make up 59.7% of its assets.


They are SM Prime Holdings (Real Estate, 11.1%), Ayala Land (Real Estate, 8.5%), SM Investments (Industrials, 7.1%), Ayala Corporation (Industrials, 6.3%), International Container Terminals (Industrials, 5.5%), Bank of Philippine Islands (Financials, 4.7%), JG Summit Holdings (Industrials, 4.7%), BDO Unibank (Financials, 4.7%), PLDT Inc (Communication, 3.9%), and Metropolitan Bank (Financials, 3.4%).


The ETF started up in June 2000 and charges an MER of 0.59%....

While inflation pressures appear to be rising, consumer prices have seen only modest increases so far. Still, factors leading to a sharper rise may be building. They include today’s very low interest rates and the massive spending and borrowing by governments around the world to inject money into the economy....

I’ve often written and spoken about the poor reliability of using market indicators to guide your investment decisions. Recently I’ve said this reliability is likely to be even worse now, if only due to unsettling developments such as the pandemic, the unprecedented plunge in interest rates, and fears about U.S.-China head-butting.

Recently an investor asked, “If we don’t use market indicators, how are we supposed to decide what and when to buy?”

That’s a big question....

GREAT-WEST LIFECO, $36.51, is still a hold. The insurer (Toronto symbol GWO; shares outstanding: 928.4 million; Market cap: $34.3 billion; TSINetwork Rating: Above Average; Dividend yield: 4.8%; www.greatwestlifeco.com) recently paid $4.4 billion for the retirement services business of Massachusetts Mutual Life Insurance Company....

The market plunge at the start of the COVID-19 crisis lowered prices for most REITs. That’s because the pandemic forced many businesses to temporarily close. This hurt rent collection for REITs and cut their cash available for distributions. However, these two REITs remain attractive thanks to their high-quality properties and tenants.


CHOICE PROPERTIES REIT, $14.63, is a buy. Canada’s biggest REIT (Toronto symbol CHP.UN; Units outstanding: 722.7 million; Market cap: $10.5 billion; TSINetwork Rating: Extra Risk; Dividend yield: 5.1%; www.choicereit.ca) creates value for investors through its 730 properties, with a total of 66.2 million square feet of retail, industrial and office space....

Generally speaking, Canadians are blocked from buying mutual funds that are registered in the U.S. unless those funds are also registered with provincial securities commissions. (Moreover, some Canadian mutual funds are only available in a limited number of provinces.)


Investors in this country can, however, buy exchange-traded funds, ETFs, listed on U.S....

The dividends of these two holdings of Power Corp. look sustainable. However, we feel IGM is in a better position to move higher, particularly as it unlocks more of the value of its Weathsimple investment.


GREAT-WEST LIFECO INC. $37 is a hold. The company (Toronto symbol GWO; Conservative Growth Payer Portfolio, Finance sector; shares outstanding: 928.4 million; Market cap: $34.4 billion; Dividend yield: 4.7%; Dividend Sustainability Rating: Above Average; www.greatwestlifeco.com) is Canada’s second-largest life insurer, after Manulife Financial....

H&R REAL ESTATE INVESTMENT TRUST $16 is also a buy. The trust (Toronto symbol HR.UN; Cyclical-Growth Dividend Payer Portfolio, Manufacturing sector; Units o/s: 286.9 million; Market cap: $4.6 billion; Distribution yield: 4.3%; Dividend Sustainability Rating: Average; www.hr-reit.com) owns 464 properties: 32 office buildings, 322 retail developments, 86 industrial buildings and 24 residential properties....

Despite the closures of offices due to COVID-19, these two REITs continue pay their investors steady distributions. That’s due to their high-quality properties and tenants, who continue to pay their rent.


ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST $44 is a buy. The trust (Toronto symbol AP.UN; Cyclical-Growth Dividend Payer Portfolio, Manufacturing sector; Units outstanding: 127.3 million; Market cap: $5.6 billion; Dividend yield: 3.9%; Dividend Sustainability Rating: Above Average; www.alliedreit.com) owns 192 office buildings and 10 properties under development, mainly in major Canadian cities....

As we’ve often pointed out, IPOs tend to come to market when it’s a good time for the company or its insiders to sell. That may not be, and often isn’t, a good time for you to buy.

One common problem is that the IPO sales process drums up a temporary wave of buying that can push up the stock’s price....