Canadian ETF Thanks Saskatchewan
January 3rd 2008 at 1:00am by Tom Lydon
Saskatchewan is rising above any gnarly winter conditions in the Canadian prairie province, riding the commodities boom straight to great exchange traded fund (ETF) returns. This region is known as Canada’s (and the world’s) biggest producer of uranium and potash, a key ingredient used in fertilizer, along with oil. In fact, oil and gas are bigger contributers to the province’s economy than farming.
Bernard Simon for Financial Times reports that the region’s economy grew 4.3% in 2007, and the latest investment surge has changed Saskatchewan’s traditional prairie image.
The province’s government still controls the main phone company, power utility, natural gas supplier and car insurer, but the shift of political gravity to the more business-friendly right ended 16 years of rule by the New Democrats and a change could be seen soon.
The business community has high hopes for the new government. And so does the iShares MSCI Canada Index (EWC).
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.