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Peter HodsonCanoe EIT Income FundEIT.UN.TOBUYMay 10, 2005

A nice little diversified income trust. Pays a 9%+ distribution. Did a rights issue earlier this year to expand their assets. Slow and steady. Very well managed.

Peter Hodson

Owned

Unlock Rating

$7.94

Stock price when the opinion was issued

$17.27

As of Jun 19, 2026. Market Open.

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WEAK BUY

Does not like closed end funds due to pricing details. Nature of fund can cause big price gyrations. Is a good vehicle for income otherwise.

HOLD

Good way to allocate capital. It's fine. Funds are not really his style. You can continue to hold it.

COMMENT

Not a fan of closed fund since the underlying securities will deviate from the net asset value of the fund. There are big dislocations. Underlying holdings are good quality companies. On a weighted basis, the yield is 3%, but the fund is paying 8%. This comes from the capital gains. It is not pure yield.

Unspecified

Are dividends safe? He can't see the underlying companies from his terminal and apologizes for that. If good underlying companies, dividends are relatively safe. If engineering of distribution yields, he would be concerned.

COMMENT

Pays an 11% dividend yield. How are they paying that? They probably hold a lot of Canadian infrastructure but those stocks pay only 3-4%. The US component is also dragging down that yield. There's a mismatch here in holdings vs. the 11% yield. The total return will probably be 5-7%, but the high yield will limit share performance. This is a warning. Look at their top holdings and see how you feel about that.

COMMENT

It's a preferred share ETF. It provides income. It's a hybrid between a stock and a bond. This gives you a good position in a Canadian taxable account.

DON'T BUY

He is quite indifferent to this one currently. Looks fairly extended from his point of view. Also, in another year or so, income trusts will have to convert and there could be some concerted selling when they cut distributions.

COMMENT

Hasn’t looked at this for a while but it has come off considerably. Vulnerable to the price slide of the underlying commodity. Appropriately priced and he would need a reason for it to go up.

BUY

A diversified trust mainly made up of income funds. Do a reasonably good job. A good, conservative, diversified way to play the income game.

WAIT

(Market Call Minute.) Likes it but there are others he likes better.

SELL

(Market Call Minute.) You have to be very careful with this one. A lot of other stocks out there so he would sell and move to others.

WEAK BUY

A diversified trust. Large exposure to REITs and to oil and gas. These things typically trade at a discount to their net asset value.

SELL

The management company was recently sold. It has to re-invent itself.

COMMENT

Single largest closed-end fund, which invests predominately in income trusts. Trading at a significant discount to its NAV. Distribution they pay is probably more than they earn internally so there is a potential of a distribution cut.

DON'T BUY

A diversified portfolio of income, royalty and real estate investment trusts. Are you better with this is a package or buying the individual parts on your own? He would prefer the latter route.

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Stockchase, in its reporting on what has been discussed by individuals on business television programs (in particular Business News Network), neither recommends nor promotes any investment strategies.

We paraphrase the experts by hand, we watch the shows and write down what we understood from the experts’ comments. We are human and can make mistakes, help us fix any errors. If you see something that you know is not right or if there is a problem with the site, feel free to email us at : [email protected].

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Peter HodsonCanoe EIT Income FundEIT.UN.TOBUYMay 10, 2005

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