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Gold/Mining/Energy : CANADIAN CLOSED END FUNDS AND INSTALLMENT RECEIPTS
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To: Scott Mc who wrote ()2/7/2000 9:31:00 PM
From: Sturgeon  Read Replies (1) of 37
 
Canadian General Investments is now trading at a discount of about 30%. The fund is not taxable (makes taxable distributions to shareholders) which is an advantage and is always an important consideration with closed end funds. The MER is about 1%. Interestingly, the fund is also listed on the London Stock Exchange so foreign investors may see it as a way to play the surging Canadian market.

Unfortunately, in my view anyway, the fund has recently moved heavily into tech stocks, such as Nortel, JDS, and BCE to name the most prominent. I believe that these stocks, along with the rest of the techies, are part of the biggest mania of the century so I won't be buying CGI.

Instead I still think New Altamira Value Fund is the best closed end fund around right now. Trades at a discount of 20%, winds up in 2 years, MER of 1%, in all the right value areas of the market, primarily natural resources. 50% gain over the next 2 years is very reasonable expectation.
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