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Canoe Energy Portfolio Class Series F (GOC503 $17.13)
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Ninepoint Energy Fund Series F (NPP008 $38.77)
Q: Could you please provide your analysis of these two energy funds.
Thanks as always for a great service.
Brian
Thanks as always for a great service.
Brian
5i Research Answer:
Energy Portfolio is decent enough for a sector fund but has had multiple loss years with the sector. Nothing too interesting here. It fell 13% in 2017, 31% in 2018, and 45% in 2020. Since then it has performed well. Since inception is 7.24%, but that to us is not enough to justify the volatility of the sector and the MER (1.25%).
We worked with the manager of NPP008 for seven years. He is a smart guy, though of course always bullish. Ten year is 10.98%, since inception is 7.72%. It focuses on midcap energy stocks. Fees are higher (depending on the class 1.50% to 2.50%) and there is a performance fee. It also has had some VERY big down years. Again, OK for the sector but too volatile and too expensive for us to truly endorse.