Q: Pat: My ex-broker bought a large position in Cymbria for my portfolio. I am now managing my own investments and must decide whether to keep the stock or sell. I would appreciate your opinion on Cymbria. Thanks.

A: Cymbria Corp., $56.00, symbol CYB on Toronto (Shares outstanding: 22.6 million; Market cap: $1.3 billion; www.cymbria.com), is a closed-end fund that invests in a portfolio comprised largely of publicly traded stocks.

Separately, the fund owns 20.7% of EdgePoint Wealth Management, a private firm that sells… Read More

Q: Hi. I have held Canoe EIT Income Fund for many years and its dividend payout of around 10% is attractive. I’d like to hear what you think of the fund. Many thanks.

A: Canoe EIT Income Fund, $11.93 symbol EIT.UN on Toronto (Units outstanding: 90.1 million; Market cap: $1.1 billion; www.canoefinancial.com), changed its name from EnerVest Diversified Income Trust in November 2013. The stock symbol remained the same.
Canoe EIT is a closed-end fund that invests in a.. Read More

Q: Pat: Could you please give me your opinion on two American closed-end funds: Liberty All-Star Equity Fund and AllianzGI Equity & Convertible Income Fund? The yields are great on each fund and you are getting their holdings at a discount. Thank you in advance.

A: Liberty All-Star Equity Fund, $5.22, symbol USA on New York (Units outstanding: 186.8 million; Market cap: $975.1 million; www.all-starfunds.com), is a closed-end fund that aims to combine the stock recommendations of three value-style and two growth-style investment managers.
The fund started up on October 31,… Read More

These 2 ETFs are low-fee buys

These 2 ETFs are low-fee buys

Generally, we think ETFs are a cheaper alternative to mutual funds. They’re also a way for Canadian investors to track international indexes. Here are two Vanguard ETFs we see as low-fee buys.

Pennsylvania-based Vanguard Group is one of the world’s largest investment… Read More

Direxion iBillionaire Index ETF copies billionaire investors

The Direxion iBillionaire Index ETF tries to reproduce the investments of Warren Buffett and other billionaires. But that could lead to buying stocks they once had and no longer hold.

THE DIREXION IBILLIONAIRE INDEX ETF (symbol IBLN on New York; www.direxioninvestments.com)… Read More

Closed-end funds can offer “stocks at a discount”

Closed-end mutual funds can offer “stocks at a discount,” but you won’t likely hear about them from your broker.

Given their pluses, it’s a wonder why brokers so rarely recommend closed-end funds. There’s a simple reason for this: while closed-end mutual funds can benefit individual… Read More