Question: I am a regular reader of your question and answer page and each year a purchase a copy of your Buyer’s Guide to RRSPs. I have a question for you. I am in my early thirties and have recently invested in the Bissett Retirement Fund. Would you suggest I stick with Bissett for the foreign content (perhaps the Multinational Fund) or should I look for a good US fund? Also, should I consider parking my investment outside of the retirement fund for a few months to avoid Y2K? – R.H.
Gordon Pape’s answer: We can’t give personal financial advice. However, as a general rule taking money out of a conservatively-managed fund like Bissett Retirement because of something that might happen is not good investing policy. Also keep in mind that Bissett Retirement is a balanced fund, with both stock and bond holdings. You may prefer to let the manager handle the asset mix call.
We continue to like the Bissett Multinational Fund for foreign content. Here’s our latest review of the fund, as it appears in our Online Mutual Fund Database. Our rating is $$$. If you want more information about the On-Line Database and how to subscribe to it, you’ll find ielsewhere on this Web site.
From Gordon Pape’s Online Mutual Fund Database: The mandate of the Bissett Multinational Fund is somewhat unusual. The managers seek out European and North American companies that operate on a multinational level and which offer a growing dividend stream. These aren’t your traditional blue chip stocks in most cases, but the next level down major firms which are on the rise. In the first half of ‘99, about 16 per cent of the portfolio was in Europe, just over 26 per cent in Canadian stocks and the balance in the U.S. Like just about every other fund from this company, results have been very good. Three year average annual compound rate of return to June 30/99 was 23.8 per cent. The risk level is very reasonable for this type of fund — it has never recorded a loss over any 12 month period since its inception. This has evolved into an excellent fund and if you’re a Bissett client you should add it to your portfolio.
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