TORONTO, ONTARIO–(Marketwired – Oct. 20, 2016) –
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
(TSX:FFI.UN) Brompton Funds announces monthly distributions for record dates from October to December 2016 for Flaherty & Crumrine Investment Grade Fixed Income Fund (the “Fund”) in the amount of $0.08 per unit.
| Record Date | Payment Date |
| October 31, 2016 | November 14, 2016 |
| November 30, 2016 | December 14, 2016 |
| December 30, 2016 | January 16, 2017 |
Investors and investment advisors are invited to listen to an update on Flaherty & Crumrine Investment Grade Fixed Income Fund (the “Fund”) provided by Chad Conwell, EVP of Flaherty & Crumrine Incorporated. A link to the update recorded on October 18, 2016 has been posted to the Brompton Funds website. Investors may listen to the call by clicking on the following link: Flaherty & Crumrine Investment Grade Fixed Income Fund. The Fund is available for purchase on the Toronto Stock Exchange under the ticker symbol FFI.UN.
The Fund has generated an annual compound return of 13.3% for the 5 years ending September 30, 2016, significantly outperforming its benchmarks(1). Its current regular distribution of $0.96 per unit per annum represents a cash distribution rate of 7.6% per annum based on the October 19, 2016 TSX closing price.
For the nine months ended September 30, 2016, the Fund has earned income in excess of its distributions paid. Assuming the Fund continues to earn income at the same rate in the fourth quarter as it has up to September 30, the Fund expects to pay a special year end income distribution of approximately $0.10 to $0.15 per unit payable in a combination of cash and units. Unit distributions will be automatically consolidated so that unitholders will hold the same number of units after the distributions as they held before it. The special year end distribution will be formally announced in December 2016.
Special year-end distributions were paid by the Fund in 2011, 2012, 2013, 2014 and 2015 as income also exceeded regular annual distributions during those years. The Fund has paid out $14.25 per unit in cash distributions since inception through to September 30, 2016.
Unitholders are reminded that the Fund offers a distribution reinvestment plan (“DRIP”) which provides unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth of their investment. Unitholders can enroll in a DRIP program by contacting their investment advisor.
About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2.0 billion in assets under management. Brompton’s investment solutions include TSX listed closed-end funds, mutual funds, hedge funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.
(1) Please see www.bromptongroup.com for returns for all periods
The securities offered have not been registered under the U.S. Securities Act of 1993, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in the public filings available at www.sedar.com. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
416-642-6000 (toll-free at 1-866-642-6001)
info@bromptongroup.com
www.bromptongroup.com