Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: chris714 who wrote (16109)	7/20/2002 1:26:45 PM
From: Cogito Ergo Sum	Read Replies (1) of 36161

Hi Chris, Yes I own FAP and added on the dip when the divi was cut. It stills pays me over 10 pts based on my cost (under 8$ CDN) and is still a hedge against the greenback. I did own FAX initially. They announced ( and executed) the same divi cut many months ago (not sure how far back) and if you look back you'll see a small corresponding price drop in FAX. It has since come back very strongly in line with FAP better now due to FAP's current weakness on the dividend news). Two reasons for switching to FAP from FAX were for me: - FAP continued the higher yield longer (had no plans to reduce theirs when FAX did) - I'm a Canuck and was getting hit with a 15% withholding tax on FAX. (Canada doesn't have a tax treaty with Cook Islands where these funds are based). The tax is built in on the FAP so I guess it's easier on the eyes :o) I may need to revisit my thinking on this though if the loonie appreciates in line with the kangabuck. I think though that the loonie will not appreciate as much though. regards Kastel

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