Top Quality at 26% Off

Article Excerpt

ECONOMIC INVESTMENT TRUST $78 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks. The $602.4 million fund’s largest holdings include E-L Financial, Algoma Central Railway, Bank of America, Toyota Motor, Hewlett-Packard, ConocoPhillips, General Electric, Posco, Citigroup and Sumitomo Mitsui Financial Group. The fund breaks down geographically as follows: Canada, 48.2%; the U.S., 18.7%, Europe, 18.8%, Asia, 13.4%; and Latin America, 1.1%. 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 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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