Updating Pengrowth Energy Trust, IGM Financial, Tim Hortons Inc. and SNC-Lavalin Inc.

Article Excerpt

PENGROWTH ENERGY TRUST (Toronto symbols PGF.A $27 and PGF.B $26; Aggressive Growth Portfolio, Resources sector; SI Rating: Average) is getting rid of its dual-class system of “A” and “B” units. It put the two classes in place to comply with Canada’s foreign-ownership requirements and maintain its tax treatment as a Canadian mutual fund trust. However, new rules let Pengrowth keep its Canadian trust status, regardless of its foreign ownership. Effective July 27, 2006, Pengrowth will convert the “A” and “B” units into a single class on a 1-for-1 basis. Prices of the “A” and “B” units have been converging as that date nears, as we predicted. Pengrowth is a buy. IGM FINANCIAL INC. $45 (Toronto symbol IGM; Conservative Growth Portfolio, Finance sector; SI Rating: Above average) has net sales of just $8.3 million worth of new units in its mutual funds in June this year, down sharply from $74.1 million in June 2005. Weak stock markets inevitably hurt demand for mutual funds, but…

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