Topic: How To Invest

What is your opinion of SCITI Trust?

Article Excerpt

SCITI Trust, $13.53, symbol SIN.UN on Toronto, (Shares outstanding: 15.3 million; Market cap: $206.8 million; www.scotiamanagedcompanies.com) 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 in March 2008 to continue the trust. SCITI Trust is now scheduled to wind up on August 13, 2013. Unitholders also voted to change the trust’s investment mandate. Previously, SCITI Trust’s portfolio consisted of the 100 largest income trusts by market capitalization included in the Scotia Capital Income Trust Index. The trust’s portfolio is now based on a new index, the Scotia Capital High Yielding Equity Index (the “Scotia HYE Index”). This index tracks the highest-yielding stocks and income trusts on the Toronto exchange. The trust now holds the top 50 highest-yielding issues in the Scotia HYE Index, on an equal-weight basis. The trust’s top ten holdings are Canfor Pulp Income Fund, Westshore Terminals Income Fund, Wajax Income…

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