Opinions
John Priestman
Acclaim Energy Trust
AE.UN-T
BUY
Dec 31, 2004
A good trust, especially if you are looking for income. About 2/3 of its distribution is tax deferred income. Yield is about 12 1/2%. Good up front tax-effective income.
$14.400
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Acclaim Energy (AE.UN-T) and Starpoint (SPN.UN-T) are merging. This will make it close to the 4th or 5th largest royalty trust. They will be getting a NYSE listing so there will be more demand from the US. There might be some short term weakness as many managers will end up owning too much and will have to reduce the weighting in their portfolios.
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There is a friendly merger with Starpoint Energy (SPN.UN-T). Likes Royalty Trusts. The only risk factor is that there are two large energy trusts making one of the largest Royalty trusts. There will be a lot of integration risks. It will be listed on the New York stock exchange giving access to US investors.
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