Income & Equity Index Participation Fund
TSX : IEP.UN

Income & Equity Index Participation Fund

May 23, 2006 09:30 ET

Income & Equity Index Participation Fund Announces Distribution Increase

CALGARY, ALBERTA--(CCNMatthews - May 23, 2006) - Income & Equity Index Participation Fund (TSX:IEP.UN) reports the distribution to unitholders of record at the close of business on May 31, 2006 and payable June 15, 2006 has increased to $0.075 Cdn per unit from $0.07 Cdn per unit previously. The increase distribution is a result of the Fund's determination to pass onto unitholders the improved distributions received from the Fund's underlying portfolio.

Throughout the month of April 2006, Income & Equity Index Participation Fund repurchased 53,300 units at an average price of $10.89 per unit under its mandatory repurchase program, which represented a discount to net asset value of 12.9%.

As at May 18, 2006, Income & Equity's net asset value was $11.81 Cdn per unit. The portfolio currently consists of 24% oil and gas royalty trusts, 12% ongoing business trusts, 16% real estate investment trusts, 10% industrials, 16% energy & services, 4% materials, 17% S&P/TSX 60 capped call option and 1% cash and cash equivalents.

Contact Information

  • Income & Equity Index Participation Fund
    Joe MacDonald
    Executive Vice President, Sales and Marketing
    1-877-261-9674
    Website: www.citadelfunds.com