Topic: How To Invest

Pat: I hold units of SCITI Trust. I would be grateful for your insights as to the pros and cons of this investment. Thank you.

Article Excerpt

SCITI Trust, $13.69, symbol SIN.UN on Toronto (Shares outstanding: 21.4 million; Market cap: $293.0 million;, first issued units at $10, and began trading on Toronto in April 2003. It was scheduled to wind up on April 29, 2008. However, unitholders voted to continue the trust in March 2008. SCITI Trust is now scheduled to wind up on August 13, 2013. The trust’s portfolio is based on the Scotia Capital High Yielding Equity Index, which tracks the highest yielding stocks and income trusts (mostly REITs) on the Toronto exchange. SCITI Trust now holds the top 50 highest-yielding issues in the index, on a roughly equal-weight basis. The trust’s top 10 holdings are Just Energy Group, Liquor Stores NA, Canexus Corp., Inter Pipeline Fund, Artis REIT, Cominar REIT, Dundee REIT, Poseidon Concepts, Sun Life Financial and Wajax Corp. SCITI Trust has an MER of 0.48%. Its monthly distribution now yields 7.1% on an annualized basis. The trust trades at a slight premium to its…

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