Faircourt Income & Growth Split Trust (FIG.UN.TO)

Very oil weighted. Has good potential. NAV is close to $5. Thinks distributions will restart in the next 3 to 6 months. There is a ratio of how much value there has to be, before they can pay distributions.

(A Top Pick Nov 28/08. Up 171%.) Still likes. Closed-end fund and NAV is about $4.20. On a nice trend. Closed-end funds trade on discounts and this discount is pretty steep at 35%-40%.

Mutual fund and the first $100 million is owned by preferred shareholders who have guarantees on income and capital. Portfolio is about $100 million and $510 million with the balance being owned by the capital unit holders who take all the risk. No longer pays any income. Only take a very small position and be willing to give it all up. If the market goes up 10%, this could go up by about $5.