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Energy Income Fund T.ENI.UN

Energy Income Fund (the Fund) is a Canada-based closed-end investment trust. The Fund's investment objectives are to provide its unitholders with a stable stream of monthly distributions and to preserve and potentially enhance the net asset value of the Fund. The Fund is permitted to invest in any publicly listed security in the United States without sector-specific restrictions. The Fund may invest in portfolio securities in other geographies, focusing on permissible asset classes that include oil and gas securities, energy securities, other resource securities, as well as cash and short-term investments. Its investment strategy specifically targets companies on the verge of profitability, which have historically experienced substantial operating losses. It adheres to a stringent investment discipline, methodically reducing its holdings in assets as they surpass its established valuation thresholds. Artemis Investment Management Limited is the investment fund manager of the Fund.


TSX:ENI.UN - Post by User

Bullboard Posts
Post by Intellectualon Nov 28, 2010 1:56pm
219 Views
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.
Bullboard Posts