Series S-1 Income Fund

Series S-1 Income Fund

May 23, 2006 09:30 ET

Series S-1 Income Fund Announces Distribution and Top Ten Holdings

CALGARY, ALBERTA--(CCNMatthews - May 23, 2006) - Series S-1 Income Fund (TSX:SRC.UN) reports the distribution to unitholders of record at the close of business on May 31, 2006 and payable on June 15, 2006 is $0.075 Cdn per unit.

Throughout the month of April 2006, Series S-1 repurchased 133,200 units at an average price of $10.78 per unit under its mandatory repurchase program when the fund traded at a discount greater than 5%.

As at May 18, 2006, Series S-1's net asset value was $10.73 Cdn per unit. The current portfolio consists of 22% ongoing business trusts, 22% power generation funds, 18% oil and gas royalty trusts, 14% real estate investment trusts, 13% pipeline and energy distribution funds and 11% cash and cash equivalents.

Top Ten Holdings at May 18, 2006:

1) TransAlta Power L.P.
2) Countryside Power Income Fund
3) Inter Pipeline Fund
4) Harvest Energy Trust
5) Dundee Reit
6) Fort Chicago Energy Partners
7) Keyera Facilities Income Fund
8) Algonquin Power Income Trust
9) Retirement Residences Reit
10) Yellow Pages Income Fund

Contact Information

  • Series S-1 Income Fund
    Joe MacDonald
    Executive Vice President, Sales and Marketing