TSX:ENI.UN - Post by User
Post by
Intellectualon Nov 28, 2010 1:56pm
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Post# 17767991
Massive discount to NAV
Massive discount to NAVGreetings,
This fund is now trading at a massive discount to NAV of about 15%. They announced a normal course issuer bid to purchase up to 10% of the outstanding float, which should, theoretically, end up reducing the discount to NAV. Indeed, purchasing shares at a heavy discount will be immediately incremental to NAV!
This looks like an excellent fund in that the management fees are fairly low and the annual yield now stands at about 6.73%.
Why is there such low interest in this fund? Any comments would be appreciated.