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Analysis: The mandate of this fund is to focus its attention on companies that have their core business in six key sectors: consumer products/services, financial services, energy, health care, information technology and telecommunications. The manager may go beyond those areas but almost 60% of the portfolio is in the target sectors now. The U.S. and Japan represent about two-thirds of the asset mix in geographic terms.
The fund shows below-average returns for one and three years but it has made single-digit gains each calendar year since its launch in mid-2002 despite the rise in the Canadian dollar which has depressed the value of the U.S. stocks in the portfolio. We don’t see this as a “must have” fund but it’s respectable.