RE: Bnn top Pick
For video, market analysis and more click here
John Stephenson, Sr. V.P. & Portfolio Manager, First Asset Investment Management
FOCUS: Resource Stocks
Market Outlook:
The stock market will be entering a consolidation phase for the next several months and investors are encouraged to increase their defensive positioning by over-weighting utilities, pipelines, consumer staples and healthcare names in their portfolio and shedding risky assets. Sell in May has arrived in April this year, but better times await investors toward the end of summer.
TOP PICKS:
Innergex (INE TSX) Paid $10.41 on average
Recently sold off due to a report issued by DBRS downgrading the firm’s credit. The recent selloff represents a very good buying opportunity in a name with a strong dividend (5.9 percent).
Pembina Pipeline (PPL TSX) Paid $29.24 on average
Pembina is in a great position to capitalize on the trend in liquid rich natural gas and the need for processing infrastructure.
Enbridge (ENB TSX) Paid $43.65 on average
Management is confident of maintaining 10-12 percent earnings per share growth post-2016.
| Disclosure: | Personal | Family | Portfolio/Fund |
| INE | Y | N | Y |
| PPL | Y | N | Y |
| ENB | Y | N | Y |
PAST PICKS: April 10, 2012
First Quantum (FM TSX)
| Then: $21.11 | Now: $16.41 | -22.26% | TR: -21.06% |
PotashCorp (POT TSX)
| Then: $43.06 | Now: $39.94 | -7.25% | TR: -5.37% |
Cenovus (CVE TSX)
| Then: $33.38 | Now: $28.95 | -13.27% | TR: -10.87% |
Total Average Return: -12.43%
| Disclosure: | Personal | Family | Newsletter Pick |
| FM | Y | N | N |
| POT | N | N | N |
| CVE | N | N | N |
Fund Profile
First Asset Canadian Dividend Opportunity Fund
Performance as at: March 31, 2013
| | Fund | Index** |
| 1 Month | 1.31% | -0.19% |
| 1 Year | 12.32% | 6.11% |
| 2 Year Avg | 9.79% | -2.15% |
**S&P/TSX Total Return
Follow us on Twitter: @marketcall