imaxx Canadian Equity Growth Fund

Posted by on May 4, 2008 in Mutual Fund Updates | 0 comments

Fund Company AEGON Fund Management
Fund Type Canadian Equity
Rating $$$$
Style Growth
Risk Level Medium
Load Status Optional
RRSP/RRIF Suitability Good
TFSA Suitability Good
Manager Glenn Paradis since June 2002
MER 2.80%
Code AFM 240 – Front End Units
AFM 140 – DSC Units
AFM 540 – Low Load Units
Minimum Investment $1,000

 

 Analysis: This is not your typical Canadian equity fund with a boring line-up of banks and big oil companies. There are a lot of interesting things going on in this growth-oriented portfolio, where manager Glenn Paradis has assembled an unusual combination of blue-chip stocks (e.g. Research in Motion, EnCana) and little-known small/mid-caps, such as Oilexco and Addax Petroleum. Whatever he’s doing, it works. The fund gained a very impressive 10.1% in the year to March 31/08, one of the best results in the Canadian Equity category. Longer-term numbers are also outstanding; the fund shows a five-year average annual compound rate of return of over 22%. Equally impressive is the fact the fund has never experienced a losing 12-month period since its launch in mid-2002. It’s too bad so few people have benefitted from this one; the fund has only $24 million under management. Rating moves to $$$$.

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