American Income Trust

American Income Trust

August 26, 2005 12:04 ET

American Income Trust: Results For The Six Months Ending June 30, 2005

TORONTO, ONTARIO--(CCNMatthews - Aug. 26, 2005) - AMERICAN INCOME TRUST ("American Income")(TSX:USA.UN) today announced its semi-annual financial results for the six months ending June 30, 2005.

Six monthly payments totaling $0.47 per unit were made under the variable distribution program during the year. A total of 74 distributions totaling $9.96 per unit have been paid since inception. The net asset value per unit was $10.40 as at June 30, 2005.

Selected Financial Information from the Semi-Annual Statement of Operations:

Six Months Ending Six Months Ending
June 30, 2005 June 30, 2004
$ $

Income .321 .350
Expenses .314 .445
------- --------
Net investment income .007 (.095)
Realized option premiums and gain
on sale of investments (2.011) (11.518)
Change in unrealized appreciation
of investments .692 15.244
------- --------
Increase in net assets from operations
before distributions 1.312 3.631

American Income was launched in June 1999. It invests primarily in companies that are included in the Standard & Poor's 500 Index. To generate additional returns above the dividend and interest income earned, covered call options are written on all or part of the securities in the portfolio. Quadravest Capital Management Inc. actively manages the portfolio.

Contact Information

  • Quadravest Capital Management
    Wayne Finch
    Chairman and Chief Investment Officer
    (416) 304-4443
    Quadravest Capital Management
    Laura Johnson
    Vice President
    (416) 304-4443
    Quadravest Capital Management
    Peter Cruickshank
    Chief Financial Officer
    (416) 304-4443