Canadian vs. US Banks--Better PE and rising C$ Message Board

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Non-Tech : Canadian vs. US Banks--Better PE and rising C$

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To: streetclam who wrote (55)	5/7/1997 12:05:00 AM
From: Steve Bevington	of 230

Streetcalm, I don't know of any open-ended fund that invests solely in bank shares. However, Canadian Banc-NT (XCN on the TSE) is a holding company of sorts which holds roughly equal weightings of the big five banks. I beleive it pays a dividend and it has certainly tracked the sector during the recent multiple expansion in the sector. It may be you best bet, however, I agree with Marcos that owning the shares directly may be a better option. For one thing, if you're interested in a mutual fund, you may also be interesed in setting up a stock on a DRIP. This, I don't beleive, is possible for XCN. Marcos, I'm sure you've heard about it by now, but watch the O'Donnell IPO at the end of the month. I think it should pop up nicely right out of the gate. Steve

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