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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Scott Mc who wrote (2881)	3/17/2002 11:53:58 AM
From: mark calgary	Read Replies (2) \| Respond to of 11633

Scott - make sure you understand that income trusts have management fees as well: Here are a few examples: Note almost all expenses of the manager are covered. Managers can be hired and fired, however they are usually present on the board of directors. In the case of PVE they can only be let go early for Gross negligence as outlined in the Landmans code of conduct - not just negligence. AET.UN - 3% of net production revenue PLUS 1.5% of the price of acquisitions AND 1.25% of net proceeds of disposition - 2001 financials SHN.UN - 2.6% of net production revenue PLUS 1.478 m Yr 2000 for acquisition fees ( hard to tell on what basis as its not as well laid out in the acctg notes)YR 2000 financials VKR.UN - 2.66% of net production revenue PLUS 1.46% of arms length acquisitions 2000 financials PVE.un 2% of operating cashflow PLUS 6% of the total return amount ( total return percentage - 8% ) - worked out to 3.2% of net production revenue - they don't get a fee for acquisitions or dispositions. Annual information form 2001 and interim financials Sept 30 2001. AVN.UN - 1.15% of operating cashflow plus and unspecified bonus based on unit price and distributions - Sept 30 2001 interim financials. These guys make some of the Mutual funds look like a great value - and you would find it very tough to get rid of a manager. Mark