Canadian World Fund: Investment Update-Unaudited

TORONTO, CANADA -- (MARKET WIRE) -- 11/03/11 -- Canadian World Fund Limited (CWF) (TSX: CWF) reports on an unaudited basis that its net asset value per share (NAV) at October 31, 2011 was $5.47, resulting in year-to-date and 12-month NAV returns of -9.4% and -8.5%, respectively. These compare with the -6.2% and -4.2% returns of the benchmark Morgan Stanley Capital International All Country World Index, in Canadian dollar terms, for the same periods.

The closing price for CWF's common shares at October 31, 2011 was $3.82, resulting in year-to-date and 12-month market returns of -7.7% and -3.5%, respectively.

The geographic sector weightings of CWF's investment portfolio at market as of October 31, 2011 were as follows:

Canada                                                                 39.5%
United States                                                          19.0%
Asia                                                                   17.7%
Europe                                                                 16.5%
Latin America                                                           6.2%
Australia                                                               1.1%

The top ten investments which comprised 45.5% of the investment portfolio at market as of October 31, 2011 were as follows:

Cash (Canadian)                                                        12.8%
Mahindra & Mahindra Limited (India)                                     4.5%
Blinkx plc (United Kingdom)                                             4.3%
Lojas Renner S.A. (Brazil)                                              4.1%
HDFC Bank Ltd. (India)                                                  4.0%
Petrofac Limited (United Kingdom)                                       3.5%
International Business Machines Corporation (United States)             3.3%
Apple Inc. (United States)                                              3.1%
Valeant Pharmaceuticals International, Inc. (Canada)                    3.0%
Cash (United States)                                                    2.9%

Contacts:
Canadian World Fund Limited
Jonathan A. Morgan
President and CEO
(416) 366-2931
(416) 366-2729 (FAX)
[email protected]
www.mmainvestments.com

Source: Canadian World Fund Limited