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

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