Global Banks Premium Income Trust

November 18, 2008 11:12 ET

Global Banks Premium Income Trust-Suspension of Monthly Distributions

BURLINGTON, ONTARIO--(Marketwire - Nov. 18, 2008) - Global Banks Premium Income Trust (TSX:GBP.UN) (the "Fund") today announced that it will suspend payment of monthly distributions on its Trust Units effective immediately in order to protect the Fund's Net Asset Value ("NAV") and to preserve its ability to rebuild and meet its investment objectives in the long term.

The Fund's portfolio of securities comprised primarily of the world's leading global bank-based financial services companies has experienced a sharp decline resulting in a reduction in the Fund's NAV. A re-evaluation will be conducted by May 2009 and a press release will be issued if distributions are to be reinstated.

A unitholder that has continually held units since inception will have received a total of $2.65 per unit as of payment date.

Contact Information

  • AIC Limited
    Client Service Department