Canoe EIT Income Fund has released its Annual Report to December 31, 2017.
| EIT Performance |
| Instrument |
One
Year |
Three
Years |
Five
Years |
Ten
Years |
EIT
(based on NAV) |
+10.1% |
+10.6% |
+10.3% |
+8.7% |
| S&P/TSX Composite Total Return Index |
+9.1% |
+6.6% |
+8.6% |
+4.7% |
Sadly, they did not publish a “whole fund” return.
Figures of interest are:
MER: “Management expense ratio excluding issue costs, interest, and distributions to preferred redeemable units” “as a percentage of net asset value” (which I take to mean, based only on the equity represented by the Capital Units).
1.63% “as a percentage of net asset value” (which I take to mean, based only on the equity represented by the Capital Units).
Average Net Assets: There was no particularly enormous change in either the number of capital units outstanding or of the net asset value per capital unit, so let’s just take the average of the year-beginning and year-ending NAVs: )(1,073-million + 1,151-million) / 2 = 1,112-million
Underlying Portfolio Yield: Dividends received of 32.122-million + interest of 1.084-million is 33.206-million divided by average net assets of 1,112-million is 3.00%
Income Coverage: Net Investment Income of 8.227-million divided by Preferred Share Distributions (annualized) of 6.544-million is 126%.
Asset Coverage: NET ASSETS ATTRIBUTABLE TO HOLDERS OF COMMON REDEEMABLE UNITS of 1,073-million + Preferred redeemable units of 136.3-million, all divided by Preferred redeemable units of 136.3-million is 8.9x.
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EIT.PR.A : Annual Report 2017
Canoe EIT Income Fund has released its Annual Report to December 31, 2017.
Year
Years
Years
Years
(based on NAV)
Sadly, they did not publish a “whole fund” return.
Figures of interest are:
MER: “Management expense ratio excluding issue costs, interest, and distributions to preferred redeemable units” “as a percentage of net asset value” (which I take to mean, based only on the equity represented by the Capital Units).
1.63% “as a percentage of net asset value” (which I take to mean, based only on the equity represented by the Capital Units).
Average Net Assets: There was no particularly enormous change in either the number of capital units outstanding or of the net asset value per capital unit, so let’s just take the average of the year-beginning and year-ending NAVs: )(1,073-million + 1,151-million) / 2 = 1,112-million
Underlying Portfolio Yield: Dividends received of 32.122-million + interest of 1.084-million is 33.206-million divided by average net assets of 1,112-million is 3.00%
Income Coverage: Net Investment Income of 8.227-million divided by Preferred Share Distributions (annualized) of 6.544-million is 126%.
Asset Coverage: NET ASSETS ATTRIBUTABLE TO HOLDERS OF COMMON REDEEMABLE UNITS of 1,073-million + Preferred redeemable units of 136.3-million, all divided by Preferred redeemable units of 136.3-million is 8.9x.
This entry was posted on Saturday, April 14th, 2018 at 5:19 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.