True North is Still a Buy

Article Excerpt

FIDELITY TRUE NORTH FUND $26.61 (CWA Rating: Conservative) (Fidelity Investments Canada, 483 Bay St., Suite 200, Toronto, Ont. M5G 2N7. 1-800-263-4077; Web site: Load fund — available from brokers) uses a “bottom-up” approach (using fundamentals such as earnings, cash flow and low debt) to identify undervalued companies. Fidelity True North Fund’s top holdings include high-quality stocks such as Manulife Financial, EnCana, TD Bank, Sun Life, CN Railway, Canadian Natural Resources, Bank of Nova Scotia, Telus Corp. and Talisman Energy. The fund’s breakdown by economic sector is: 31.2% in Financials, 21.5% in Energy, 14.7% in Materials, 8.2% in Industrials, 7.2% in Telecom, 6.5% in Information technology and 4.3% in Consumer discretionary. The $5.3-billion Fidelity True North Fund’s one-year gain is 23.4%. Its MER is 2.55%. Fidelity True North Fund is a buy. buy…

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