United Corporations Limited (TSX:UNC) is a Canada-based investment company focused on maintaining a diversified portfolio representing multiple asset class.
It is a closed-end investment firm that invests in common equities and stocks of multiple companies engaged in a multitude of sectors.
The company reportedly focuses on creating value for shareholder through long term capital appreciation. Its extensive investment portfolio represents assets located in Mexico, Asia, Canada, the United States, Mexico, Australia and Europe.
The investment company was established as Consolidated Investment Corporation of Canada in 1929. In 1933, following a corporate reorganization, it was renamed as United Corporations Limited. In addition, preferred shares and bonds were offered to the public for sale.
The securities were sold for an estimated $32 million including organizational expense and accrued interest.
In December 1959, it acquired London Canadian Investment Corporation’s assets.
United Corporations Limited acts as an investment vehicle that focuses on long-term growth through common equities. The company says common equities as an asset class can outperform balanced funds or fixed income instruments in the long run.
The investment company also focuses on investments in interest-bearing short-term securities.
The company focuses on close-ended investment funds and claims that such a portfolio is usually not affected by shareholders' subscription and redemption activities.
Further, it adds that close-ended funds often allow investors to purchase assets at a discount and the management expense ratio is generally lower than the open-ended funds.
United Corporations investment portfolio also includes foreign equities.
The external investment portfolio is managed by the following:
• Comgest Asset Management International Limited (CAMIL)
• Causeway Capital Management LLC
• Harding Loevner LP
CAMIL is a Paris-based independent asset management group operating under the Comgest group. It operates through offices in Hong Kong, Brussels, Boston, Dublin, Singapore, Amsterdam, Milan, Tokyo, Dusseldorf and London.
Causeway Capital, a California-based firm and Harding Loevner, domiciled in New Jersey, have been managing the company's external investment portfolio management since 2018. However, CAMIL began its operation in 2021.
United Corporation also operates for Algoma Central Corporation, a shipping company.
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