Top Quality at 24% Off

Article Excerpt

ECONOMIC INVESTMENT TRUST $79 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks. In 2002, the trust changed its investment policy to allow for more non- Canadian investments. The $514 million fund’s largest holdings include E-L Financial, Algoma Central Railway, Bank of America, Honda Motor, Hewlett-Packard, ConocoPhillips, Time Warner, Posco, Citigroup and Sumitomo Mitsui Financial Group. The fund breaks down geographically as follows: Canada, 44.3%; the U.S., 20.3%, Europe, 19.9%, Asia, 13.6%; and Latin America, 1.5%. Economic Investment Trust now trades at a high 24% 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 and discount to net asset value. value…

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