CANADIAN CLOSED END FUNDS AND INSTALLMENT RECEIPTS Message Board

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Gold/Mining/Energy : CANADIAN CLOSED END FUNDS AND INSTALLMENT RECEIPTS

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To: kingfisher who wrote (20)	12/8/1999 2:48:00 PM
From: Sturgeon	Read Replies (1) of 37

I looked into buying Dundee Precious metals awhile back, but found two problems. One, they pay a lot of tax. All capital gains are considered business income and are taxed at top corporate rates (44%). Two, they have high management fees. A base fee and a performance fee. Together, these two factors make a 30% plus discount reasonable for the fund as a going concern. The only play I see here is if they convert to open ended. But thats not likely to happen given the sorry state of gold funds (they would be slammed with redemptions). Better bets are Economic Investment Trust (EVT.TSE) and especially New Altamira Value Fund (NVL.UN). NVL is by far the best closed-end fund right now.

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