World stock market exposure: Quality at a 22% discount

Article Excerpt

UNITED CORPORATIONS $47 (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, 35.3% of the fund’s $1.0 billion portfolio was invested in Canadian equities, 23.7% in the U.S., 20.2% in Europe, 6.3% in the UK, 12.5% in Asia and 1.0% in Mexico and Latin America. The fund’s largest holdings included Bank of Nova Scotia, EnCana, Royal Bank, Nexen, Potash Corp., Chevron, ConocoPhillips, Manulife, TD Bank, Pfizer and CN Railway. United Corporations now trades at a wide 22% discount to its net asset value. United Corporations pays a dividend of $0.80 a share, for a current yield of 1.7%. United Corporations is still a buy. buy…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.