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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (43936)	8/15/2011 2:58:01 AM
From: Paul Senior	1 Recommendation Respond to of 78476

Morningstar ETJ commentary: "While we are intrigued by this fund's strategy that includes protective put options, that strategy has restrained the fund's long-term performance. We also do not like this fund's level distribution plan, which relies heavily on return of capital. While the covered call strategy can cause a fund to use more return of capital than a similar fund not using a call overlay, this fund has used it destructively in the past two fiscal years with little sign of relief. Its level distribution plan only adds to the pain, and, not surprisingly, the distribution was lowered from $0.45 per share each quarter to $0.3195 in December 2010." That makes ETJ an avoid for me.