Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 T.EIT.PR.A

Alternate Symbol(s): T.EIT.PR.B | ENDTF | T.EIT.UN

Financial Services Asset Management

Canoe EIT Income Fund (the Fund) is a Canada-based closed-end investment trust. The investment objectives of Fund are to maximize monthly distributions relative to risk and maximize net asset value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the manager may determine in its sole discretion from time to time. Canoe Financial LP is the manager and portfolio manager of the Fund.

TSX:EIT.PR.A - Post by User

Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 > A Follow Up Question Asked ..... An Answer Given.

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Post by ace1mccoyon May 11, 2021 8:23am

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Post# 33172044

A Follow Up Question Asked ..... An Answer Given.

Question: In an answer about this fund on March 24 this year you said you thought there were better funds. Could you name a few and explain why please?

5I Research's Answer:
EIT pays a high dividend but most of it is return of capital. As such, the fund is less than 50% of the price it was 15 years ago. Investors are trading capital gains for income here. To be fair, its performance in the past five years has been better (14.8% annualized). Fees are fairly high. But a simple ETF such as XIC (fees only 0.06%) has more than doubled while EIT has declined.

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