Holdings of the
Top Canadian Funds

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If March was a bad month for the stock market, April was a disaster. In spite of that, there are still 33 Super Power Performers for the month. You'll recall that these are funds that have generated better than 25% annual average compounded returns for each of the one year, three year and five year periods. Of these, five are RRSP eligible.

And there are a further 43 Power Performers - funds generating 20% returns for those time periods - of which 11 are Canadian equity funds and two are Canadian balanced funds.

Nevertheless (and not surprisingly) nearly all of them posted losses for the month itself. Only eight had positive returns. On the other hand, all except seven had positive returns for the three month period. Their previous gains were solid enough to offset April's downturn.

I thought it might be interesting to see what the top holdings of Canadian RRSP eligible Power Performers returning better than 10% for the three months ending April 30th might be. There are eight funds that fill the bill. The table below lists their top holdings. I've created the table by listing all the stocks alphabetically and indicating the percentage of each fund's holdings that the stock represents.

The funds (with 3 month return in brackets) are represented by the letters A-H as follows:

A - Acuity Pooled Canadian Equity (10.97%)
B - GBC Canadian Growth (10.50%)
C - Manulife Cabot Canadian Equity (11.59%)
D - Ontario Teachers Group Growth (11.86%)
E - Quebec Growth (10.84%)
F - Resolute Growth (43.60%)
G - Universal Future (12.97%)
H - YMG Growth (23.92%)

What's interesting to note here is the decided lack of overlap for most of these funds. Except for Nortel and BCE, each held by five of the eight funds, and JDS Uniphase, TD Bank, ATS Automation, and Bombardier "B", each held by three of the funds, none of the stocks listed above is held by more than two funds.

The top performing RRSP eligible funds in my Power Performer tables demonstrate considerable independence in their stock selections. And they seem to lean heavily toward the technology sector.

Please note that the holdings indicated above are as of the end of March 2000 for all except the Acuity and Ontario Teachers Fund which are as of the end of December. The BCE holdings indicated are all pre the split off of Nortel shares.

Other Links of Interest

GlobeFund - Canada's premier mutual fund site. Part of the Thomson Financial media group.
The Fund Library - Another superb resource for Canadian mutual fund investors.
The Fund Counsel - Economists Levi Folk and Richard Webb run this excellent site.
U.S. Mutual Funds - About.com Guide Marlene Dziegeleski steers you through the world of US mutual funds.