Closed-End FundsCanoe EIT Income Fund

Key Dates

Distribution
Record Date Jun22
Ex-Distribution Date Jun18
Payment Date Jul15


Investment Highlight and Strategy

Canoe EIT Income Fund (TSX: EIT.UN) is one of Canada's largest closed-end investment funds, designed to maximize monthly distributions and the potential for capital appreciation by investing in a broadly diversified portfolio of high quality securities.

Fund Manager

Rob Taylor, CA, CFA, is an award winning portfolio manager with more than 15 years of investment management experience. Prior to joining Canoe Financial, Rob was responsible for managing over $4B in his position as Vice President and Portfolio Manager, at BMO Global Asset Management. Rob was also an integral member of the team responsible for asset allocation in institutional and retail mandates.

Rob also manages the Canoe Equity Class, Canoe Canadian Asset Allocation Class and Canoe Canadian Monthly Income Class.

Investment Approach

  • Actively managed portfolio focused on quality franchises, stable businesses and long-term sustainable growth
  • Diversified across sector and market capitalization
  • Managed risk - ensure best risk reward ideas and conviction levels are appropriately reflected in position weights

Fund Highlights

  • One of the largest, most liquid closed-end funds in Canada
  • Income-oriented, actively managed total return fund
  • Growth potential – trades at an approximate 15% discount to NAV
  • Low management fee of 1.1% per annum
  • Monthly distribution of $0.10 per unit/current 10% yield
  • Premium DRIP and DRIP*
  • Annual redemption feature -  up to 10% of outstanding units at 95% of NAV

Performance Review

Performance *                  
As of 6/30/2015 YTD 1mo 3mo 6mo 1yr 3yr 5yr 10yr Incep.
EIT.UN 2.4% -1.8% -1.3% 2.4% 1.3% 10.2% 8.3% 6.4% 8.7%
S&P/TSX Composite 0.9% -2.8% -1.6% 0.9% -1.2% 11.1% 8.3% 6.9% -

*Based on NAV

Portfolio Review

Top 25 Holdings (May 31, 2015)

Wells Fargo & Co.  
Toronto Dominion Bank  
American International Group  
Union Pacific Corp.  
Thomson Reuters Corp.    
Cisco Systems Inc.  
US Bancorp  
Brookfield Asset Mgmt. Inc.  
Manulife Financial Corp.  
Capital One Financial Corp.  
Citigroup Inc.  
JB Hunt Transport Services Inc.  
Intact Financial Corp.  
Enbridge Inc.  
Parkland Fuel Corp.  
Allied Properties REIT  
DH Corp.  
Mastercard Inc.  
Agrium Inc.  
Peyto Exploration & Development Corp.  
Honey Well International Inc.  
Suncor Energy Inc.  
Storm Resources Ltd.  
United Technologies Corp.  
MacDonald Dettwiler & Assoc.  
The top 25 investments make up 64% of the fund.

Equity Sector Breakdown (as of May 31, 2015)

Financials 41.1%
Energy 20.4%
Information Technology 12.7%
Industrials 12.2%
Materials 4.2%
Utilities 3.2%
Telecommunication Services 3.1%
Health Care 2.1%
Consumer Discretionary 1.0%

 

Asset Mix (as of May 31, 2015)
Canadian Equity 56.0%
International Equity 3.0%
US Equity 33.0%
Fixed Income 2.7%
Cash 5.3%

 

Fund Facts  
TSX Symbol EIT.UN-T
Total Assets (May 31, 2015) $1,330.9million
Inception Date August 7, 1997

* Premium DRIP and DRIP Plan available to Canadian investors only

Canoe
EIT Income
Fund

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    *Total distributions since inception.
    © 2015 Canoe Financial  |  Market data provided by GlobeFund.
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    For Canoe EIT Income Fund (EIT.UN), ‘current cash yield’ means the annual cash distribution for the fund (currently $1.20 per unit) divided by its market price. Annual cash distributions may be made up in whole or in part by interest, dividends or return of capital. You should not draw any conclusions about the fund’s investment performance from the amount or percentage of this distribution. Approximately seventy percent of total distributions are reinvested in the fund. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the fund’s prospectus or the information filed about the fund on www.sedar.com before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Our communications, websites and tweets are not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Information is for review purposes only, and investors should consult their registered Investment Advisor for complete details and risk factors on specific strategies and various investment products, prior to making any investment decision.