Global stock market: Top quality at 19% off

Article Excerpt

ECONOMIC INVESTMENT TRUST $75.50 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks. The $589.8 million fund’s largest holdings include E-L Financial, Algoma Central Railway, Chevron, Nissan Motor, Royal Dutch Shell, Altria Group, Dow Chemical, ConocoPhillips, Allianz SE, Arcelor Mittal, ING Groep, Vodafone Group plc, Renault, Xstrata plc and Sumitomo Mitsui Financial. The fund breaks down geographically as follows: Canada, 50.7%; the U.S., 15.7%, Europe, 20.6%, Asia, 12.3%; and Latin America, 0.6%. Economic Investment Trust now trades at a high 19% discount to its net asset value. The trust pays an annual dividend of $0.60 a share (for a current yield of 0.8%). It also pays periodic capital-gains dividends. Economic Investment Trust is a buy for its investment quality with global stock market exposure, and its discount to net asset value. value…

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