(April 9 – 16:20 ET) – The value gurus at ABC Funds cite the return to value investing as one of its reasons to continue holding Dundee Bancorp.

Dundee Bancorp manages its own investment portfolio and provides wealth management to financial advisors, institutional investors, corporations and individuals through its 85% interest in Dundee Wealth Management. DWM operations include Dynamic Mutual Funds, Dundee Securities, Dundee Private Investors and the Dundee Insurance Agency.

In its latest commentary on Dundee Bancorp, ABC notes that the Dynamic Mutual Funds have returned to a net sales position “after an agonizingly long period of net redemptions”. It says that, “improving sales are directly related to deteriorating investor sentiment towards the technology, media and telecommunication sectors. This has allowed traditional value managers to outperform growth investors on a relative basis.”

But despite the resurgence of top line growth, ABC says that Dundee remains a net asset value play. “The total value of Dundee Bancorp’s net assets fluctuate between $30 to $35 per share, depending on the current value of its publicly held securities. Management has recognized that the company trades at a discount to both net asset and book value and has taken action in an effort to improve the market value of the shares.”

ABC also notes that Dundee has renewed its normal course issuer bid for up to approximately 1.5 million shares, or 10% of the public float. The company bought back almost 500,000 shares under its previous bid. “Given the discount to book value, we believe that share buybacks continue to be an excellent use of the firm’s capital.”