Net Asset Value
The total of a company's assets less any liabilities. This amount is also referred to as Shareholder's Equity.
ECONOMIC INVESTMENT TRUST $78 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks.
The $602.4 million fund’s largest holdings include E-L Financial, Algoma Central Railway, Bank of America, Toyota Motor, Hewlett-Packard, ConocoPhillips, General Electric, Posco, Citigroup and Sumitomo Mitsui Financial Group. The fund breaks down geographically as follows: Canada, 48.2%; the U.S., 18.7%, Europe, 18.8%, Asia, …read more »
We’ve recommended a select number of closed-end mutual funds over the years in Canadian Wealth Advisor as a great way to buy high-quality assets at a discount.
As we’ve said, many closed-end funds eventually liquidate, or transform themselves into open-end funds. When that happens, much of the discount disappears overnight. The fund’s shares may then jump up to 30% or more.
A …read more »
BRAZIL FUND $61 (New York symbol BZF) (CWA Rating: Aggressive) has now liquidated its portfolio of securities following shareholder approval to wind up the fund. Shareholders had previously rejected a plan to convert Brazil Fund into an open-ended mutual.
On June 9, 2006, the fund will pay a single liquidating distribution to shareholders. Brazil Fund has done well for us, rising …read more »
ABERDEEN ASIA-PACIFIC INCOME INVESTMENT $7.98 (Toronto symbol: FAP) (CWA Rating: Income) is a closed-end fund that invests mainly in Australian debt instruments. It also invests in U.S. dollar denominated bonds of Asian countries and in Asian bonds. The fund has net assets of $559.2 million. The fund units now trade at a 6% discount to net asset value.
Aberdeen Asia-Pacific pays …read more »
The best exchange-traded funds (ETFs) offer well-diversified, tax-efficient portfolios with very low management fees. Due to buyback and share issue arrangements, ETFs always trade close to their net asset value.
Here are some of the best deals available in ETFs. We’ve also analysed one we don’t like.
ISHARES CDN LARGECAP 60 INDEX FUND $68.83 (Toronto symbol XIU; buy or sell through a …read more »
SCUDDER NEW ASIA FUND $22.95 (New York symbol SAF; SI Rating: Aggressive) invests in a diversified portfolio of Asian and Pacific Rim stocks. It’s managed by Deutsche Asset Management.
Scudder New Asia has 24% of its assets in Korea, 17% in Japan, 16% in Taiwan, 15% in Hong Kong, and 8% in China.
The fund invests in companies with superior management, dominant …read more »
CANADIAN GENERAL INVESTMENT TRUST $28.89 (Toronto symbol: CGI) (110 Yonge Street, Suite 1601, Toronto, Ontario. M5C 1T4. 1-800-207-0 067. Buy or sell through a broker) mainly invests in shares of Canadian companies of average or above-average quality. The fund is well diversified by economic sector. The trust’s discount to its net asset value is now 14%. Its MER is 1.6%.
THIRD …read more »
BRAZIL FUND $62 (New York symbol BZF) (CWA Rating: Aggressive) will not convert into an open-ended fund, as proposed by its managers. Shareholders rejected the plan at a special meeting.
Brazil Fund now trades at a 6% discount to its net asset value. Brazil is the most populous country in South America, and it has the biggest economy.
Brazil Fund is up …read more »
ECONOMIC INVESTMENT TRUST $79 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks. In 2002, the trust changed its investment policy to allow for more non- Canadian investments.
The $514 million fund’s largest holdings include E-L Financial, Algoma Central Railway, Bank of America, Honda Motor, Hewlett-Packard, ConocoPhillips, Time Warner, Posco, Citigroup and Sumitomo Mitsui Financial Group. …read more »
