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I have been extremely impressed by this closed-end mutual fund trading on the TSE-FAP. This is a foriegn bond fund primarily invested in Austrailian bonds with small exposure to other asian issues. What impresses me is: 1) The performance of this fund is far superior to any foriegn bond based mutual fund in Canada. This is based on asset value alone. The underlying stock is trading at about a 20% to net asset value, making it an even more an attractive buy. 2) The underlying assets of the fund are of outstanding quality. Approximately 85% of the bonds in the portfollio are rated AA or better. 3) The fund currently pays a monthly distribution of 8 cents a share or about 9.8% based on current market price. Information on the fund can be found at its managers website: www.equitilink.com |
