Redemption Mutual Fund Yellow Pages Income Trust - PDF
Redemption Mutual Fund Yellow Pages Income Trust document sample
Shared by: oto33159
EnerVest Diversified Income Trust Monthly Investor Report TSX: EIT.UN April 2009 Goal Our Annual Returns* Maximize distributions and Net Asset Value while 3 Months 1 Year 3 Year 5 Year 10 Year managing risk for Unitholders. EIT.UN – NAV per Unit (4.5%) (34.7%) (8.8%) (0.9%) 9.4% Strategy EIT.UN - Market Price 15.0% (31.0%) (10.9%) (3.0%) 8.8% An actively managed, high yielding diversified TSX Total Return Composite (2.0%) (32.4%) (7.8%) 2.8% 4.9% portfolio of income-generating and capital growth oriented securities. * Represents annualized compound rates of return for the trailing periods ended March 31, 2009, see disclaimer on next page for further details on calculation. Growth of $10,000 Invested 5 Key Reasons to Own This Fund From January 1, 2009 $14,000 $13,000 $12,000 Capital Distributions $12,079 as of April 13, 2009 1. Independent portfolio manager with the flexibility $11,000 to effectively deploy a wide range of financial $10,000 tools to mitigate risk, enhance returns and quickly $9,000 respond to market changes $8,000 1- Jan- 09 1- Feb- 09 1- Mar - 09 1- Apr - 09 2. Superior liquidity, low MER and innovative features Discount to Net Asset Value such as the yearly capped redemption privilege, Trailing 12 Months which increases flexibility for investors 0.00% 9-Apr-08 9-Jun-08 9-Aug-08 9-Oct -08 9-Dec-08 9-Feb-0 9 9-Apr-09 March 26, 2009 3. Ability to strategically utilize leverage that mutual -5.00% February 9, 2009 Unitholders Approve Value Enhancement Plan Changes to the Fund funds cannot, to seize market opportunities -10.00% Announced 4. A broad range of income producing investments, -15.00% including income trusts, corporate debt, convertibles and preferred shares to maximize -20.00% EIT.UN distributions and yield Peer Group Avg. -25.00% 5. Transparent and timely disclosure on the Fund’s performance through daily NAV postings, monthly -30.00% market commentary and portfolio holding -35.00% updates Sector Allocation As at April 13 Asset Mix As at April 13 Top Ten Holdings As at April 13 E & P* 20.5% Oil & Gas Stor./Trans. 12.9% 1. Canadian Oil Sands Trust 4.3% REITs 12.4% 2. BFI Canada Ltd. 3.8% Fixed Income 11.4% Banks & Other Financials 9.9% 3. Inter Pipeline Fund 3.8% Industrials 8.7% 4. H & R REIT 3.3% Consumer Discretionary 7.4% Utilities 6.0% 5. Keyera Facilities Income Fund 3.2% Materials 3.1% 6. Yellow Pages Income Fund 3.2% Real Estate Corporations 2.9% Trusts 49.6% Telecommunications 2.6% Common Shares 25.6% 7. Canadian Natural Resources 2.7% Cash 1.0% REITs 12.4% 8. Labrador Iron Ore Royalty Inc. 2.6% Consumer Staples 0.5% Bonds/Corp. Debt 6.9% Healthcare 0.4% Preferred Shares 4.5% 9. Vermilion Energy Trust 2.4% Information Technology 0.3% Cash & Short-Term Inv. 1.0% 10. Royal Bank of Canada 2.4% *Energy Exploration and Production Portfolio Manager Update Fund Details (As of April 13) Portfolio Manager Exchange and Symbol TSX: EIT.UN since June 2000 52 Week High/Low $6.25 / $2.33 Greg Bay, CFA Kelly Woodall, CFA 30 Day Avg. Volume 461,702 President & CEO Portfolio Manager No. of Units: 298,837,780 Economic Overview Quick Facts (As of April 13) Total Net Assets: $1.1 billion Following six consecutive months of market declines, equities NAV per Unit $3.74 rallied during the month of March from an oversold position on Market Price $3.20 news of policy stimulus and early indications that the U.S. Discount to NAV 14.44% economy may be stabilizing. Coincident with the rally, we saw a Current Yield 18.8% shift in market leadership away from defensive sectors in favour of cyclicals. The March rally has continued into early April, propelling equities into positive territory on a year-to-date basis. Other (As of December 31, 2008) Mgmt Expense Ratio (MER): Some early signs that suggest unprecedented global stimulus Excl. Issue Costs & Interest 1.33% measures are meeting with success include: Incl. Issue Costs & Interest 2.18% Tax Shelter Eligibility RRSP, RRIF, TFSA Easing of credit markets, compressed risk spreads and declining mortgage and treasury yields DRIP Available Hints of stabilization in U.S. housing and retail spending Distributions Monthly Distribution* $0.05 Increase in the ISM (Institute for Supply Management) Distributions From Inception $9.78 Manufacturing Composite Index, an index measuring *The amount of distributions may vary due to market manufacturing conditions conditions and other factors. Rise in durable goods orders for February Near-Term Outlook Investment Style Risk Profile Large High Volatility is likely to remain elevated and the sustainability of the Market Cap recent rally remains in question. We expect we could see a near- term pullback on profit taking as we enter a new earnings season. Med Med Nevertheless, we are encouraged by signals that would indicate the market has entered a bottoming phase and are optimistic that the worst of the market correction is now firmly behind us. Small Low Value Blend Growth Positioning the Fund Recent adjustments to the portfolio: We are a new management team committed to meeting the long-term Beginning to gradually reduce the defensive bias of the best interests of our Unitholders. Fund and selectively add cyclicals to the portfolio We want to be your partner. Increased our weighting in financials and energy – we expect these sectors will ultimately lead a market We are listening. recovery We want your feedback. Added to the fixed income weighting Please call Investor Relations at 1-877-434-2796 or email us at firstname.lastname@example.org. One-half of the Fund is now invested in securities not To learn more about EnerVest please visit impacted by SIFT taxation changes in 2011 www.enervest.com The information and commentaries contained in this tool are designed to provide you with general information related to investment alternatives and strategies available as of the date indicated and is not intended to be comprehensive investment advice applicable to the circumstances of the individual and should not be considered as personal investment advice or an offer or solicitation to buy or sell securities. Every effort has been made to ensure accuracy in this information and these commentaries at the time of publication, however accuracy cannot be guaranteed. Market conditions may change and the manager accepts no responsibility for individual investment decisions arising from the use or reliance on the information contained herein. We strongly recommend investors consult with a financial advisor prior to making any investment decisions. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the information filed about the fund on www.sedar.com before investing. The indicated rates of return are the historical and annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution, or optional charges or income www.enervest.com TSX: EIT.UN taxes payable by any security holder that would have reduced returns. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated.