Economic Investment Trust

What Economic Investment Trust does

Economic Investment Trust Limited is a Canadian closed-end investment corporation founded in January 1927 as the first closed-end investment trust in Canada, sponsored by the chartered accounting firm George A. Touche & Company. The company is headquartered at 165 University Avenue, 10th Floor, Toronto, Ontario, and its common shares trade on the Toronto Stock Exchange under the symbol EVT. It operates as a single investment vehicle with no modular product structure: the entire business is the portfolio itself, targeting above-average long-term returns through capital appreciation and dividend income from common equities. As of December 31, 2025, the company reported Net Assets of $1,519.2 million.

The investment portfolio combines two sleeves: (i) direct long-term strategic holdings in selected Canadian companies — notably E-L Financial Corporation Limited (44.8% of total investments), The Bank of Nova Scotia (5.3%) and Algoma Central Corporation (3.4%) — and (ii) a globally diversified equity portfolio managed externally by Neuberger Berman Canada ULC using a quality-value style. Geographic exposure as at December 31, 2025 spans Canada (55.1%), United States (28.6%), Europe (6.5%), Emerging Markets (5.5%), Japan (1.9%), United Kingdom (1.7%) and Australia (0.7%). The company has no plans to convert to an open-ended fund, and the common shares have persistently traded at a discount to NAV (ranging from approximately 16% to 37% over the past 10 years), which the Board addresses through Normal Course Issuer Bids and, historically, a Substantial Issuer Bid.

Economically, the company generates returns for shareholders primarily through portfolio capital appreciation and a quarterly cash dividend program (a $0.03 per share regular dividend was declared for Q4 2025, with special dividends declared from time to time). The operating cost base is minimal — a Fiscal 2024 Management Expense Ratio of 0.20% on $1.5B+ of assets — reflecting the closed-end structure, a lean internal team of 1-10 employees, and outsourced portfolio management. Investor relations are conducted through the corporate website (evt.ca), SEDAR regulatory filings, a virtual annual general meeting, and standard TSX brokerage access. Net Equity Value Returns including dividends were 29.1% (one-year), 22.8% (three-year), 17.7% (five-year) and 11.7% (ten-year) as at December 31, 2025.

Name

Economic Investment Trust

Legal name

Economic Investment Trust Limited

Website

https://evt.ca

Company type

Public

Founded year

1927

Operating status

Operating

Headcount range

1–10 employees

Short description

Economic Investment Trust Limited is a Canadian closed-end investment corporation founded in 1927, trading on the TSX under EVT. It invests in a mix of strategic Canadian equity holdings and a globally diversified portfolio managed by Neuberger Berman Canada, targeting long-term capital appreciation and quarterly dividends for shareholders.

Ownership category

akta.pro rank

Product category

Closed-End Investment Trust

NAICS

Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Fiduciary Investment Management (Trust Portfolios) (FSAEAKAI)

akta.pro secondary industry

Equity Mutual Funds (Active) (FSAAAEAA)

Keywords

• Closed-end fund
• Equity investment trust
• Common equity portfolio
• TSX-listed investment
• Dividend equity fund

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Portfolio Returns: The company generates returns through a combination of capital appreciation and dividend income from its investment portfolio comprising Canadian and foreign publicly traded equities. The portfolio includes long-term strategic investments in E-L Financial Corporation Limited (44.8%), Algoma Central Corporation (3.4%), and The Bank of Nova Scotia (5.3%), with the balance managed by Neuberger Berman Canada in global equities.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Economic Investment Trust Limited operates as a publicly listed closed-end investment trust that invests primarily in a diversified portfolio of common equities spanning Canadian and global markets. The trust generates returns for shareholders through capital appreciation and dividend income, charging a low management expense ratio (0.20% in fiscal 2024) and distributing quarterly dividends.

Product overview

Economic Investment Trust Limited operates as a single closed-end investment trust product. The company is an investment vehicle for long-term growth through investments in common equities, offering investors exposure to a diversified portfolio of Canadian and global stocks managed by the company itself and external manager Neuberger Berman Canada ULC. No modular product structure exists—the single offering encompasses the entire investment portfolio, net equity value reporting, and shareholder services (dividends, stock splits, buybacks).

Differentiator

Problem solved

Functional benefit

Products and services

• Economic Investment Trust (EVT) Common Shares

Quantifiable outcome

• 29.1% one-year net equity value return (including dividends) as at December 31, 2025
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Neuberger Berman Canada ULCcoreTechnology or Integration · 20 December 2021Neuberger Berman Canada ULC, headquartered in Toronto, provides portfolio management services for a portion of the company's assets. The firm manages the global investment portfolio by investing in global equities following a quality value investment style. Neuberger Berman Canada is a business of Neuberger Berman, a private, independent, employee-owned investment manager headquartered in New York, founded in 1939, with offices in 27 countries and over 2,900 professionals managing equity, fixed income, quantitative, multi-asset class, private equity, real estate and hedge fund strategies.

Scale indicators8 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• General American Investors Company: US closed-end investment company (NYSE:GAM) focused on long-term capital appreciation through investments in equities. Operates with similar mandate, closed-end structure, and persistent discount dynamics — closest US-listed structural analogue.
• E-L Financial Corporation Limited: Canadian investment holding company that holds 44.8% of EVT's portfolio and is significantly influenced by the same Jackman family. Operates as an investment and insurance conglomerate with overlapping equity holdings and family-control governance.
• United Corporations Limited: Canadian closed-end investment company listed on the TSX with a similarly long operating history. Closest structural peer in the Canadian closed-end universe, holding a diversified equity portfolio and trading at a discount to NAV.
• Adams Diversified Equity Fund: US closed-end fund (NYSE:ADX) actively managed for long-term growth through equity investments. Directly comparable closed-end structure, equity focus, distribution policy, and discount-to-NAV dynamics.
• Royce Investment Partners (Micro-Cap Trust): US closed-end fund manager (NYSE:RMT) running multiple closed-end vehicles focused on smaller-cap equities. Comparable closed-end structure with similar long-duration compounding mandate and persistent discount profile.
• Brompton Funds: Canadian investment manager sponsoring and managing multiple TSX-listed closed-end funds (e.g., Brompton Flaherty & Crumrine Investment Grade Preferred ETF, Split Corp, Life & Banc Split Corp). Directly comparable product structure and distribution model for Canadian closed-end investors.
• Tri-Continental Corporation: One of the oldest US closed-end investment companies (NYSE:TY), focused on long-term equity investing with a diversified portfolio and persistent NAV discount. Highly analogous in mandate, age, and structural dynamics.
• Central Securities Corporation: US closed-end investment company (NYSE:CET) with a diversified equity portfolio, low fees, and a long operating history. Comparable closed-end vehicle with similar investor base and discount profile.

Broad incumbents

• Sprott Physical Trusts / Sprott Inc. Canadian investment manager sponsoring multiple TSX-listed closed-end funds (Sprott Physical Gold Trust, Sprott Physical Silver Trust). Operates closed-end vehicles in adjacent asset categories with comparable structure, distribution model, and persistent NAV-discount dynamics.
• Gabelli Funds (closed-end lineup): Large US-based asset manager operating a wide lineup of closed-end funds (The Gabelli Equity Trust, GAMCO Gold, etc.) with diversified mandates. Operates at much greater scale with multiple vehicles but addresses the same closed-end investor base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Economic Investment Trust