Economic Investment Trust: Quality at a 26% Discount

Article Excerpt

ECONOMIC INVESTMENT TRUST $50 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks. The $510.3-million fund’s largest holdings include E-L Financial, Algoma Central Railway, Chevron, Nissan Motor, Royal Dutch Shell, Altria Group, Pfizer, ConocoPhillips, Allianz SE, BASF SE, ING Group and Vodafone Group plc. The fund breaks down geographically as follows: Canada, 55%; U.S., 14.2%, Europe, 19.6%, Asia, 11%; and Latin America, 0.2%. Economic Investment Trust now trades at a high 26% discount to its net asset value. The trust pays an annual dividend of $0.60 a share (for a current yield of 1.2%). It also pays periodic capital-gains dividends. Economic Investment is a buy for its investment quality and discount to net asset value. value…

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