Brompton VIP Income Fund

Brompton VIP Income Fund

February 18, 2009 14:46 ET

Brompton VIP Income Fund Declares Distribution

TORONTO, ONTARIO--(Marketwire - Feb. 18, 2009) - Brompton VIP Income Fund (TSX:VIP.UN) announces the distribution rate of $0.08 per unit for record dates in February and March 2009. This reflects a reduction from the previous monthly rate of $0.10 per unit due to distribution cuts by a large number of the resource related income trusts included in the portfolio in response to the steep decline in commodity prices.

Record Dates and Payment Dates are as follows:

Record Date Payment Date
----------------- --------------
February 27, 2009 March 13, 2009
March 31, 2009 April 15, 2009

Notwithstanding the current economic slowdown and decline in commodity prices, the portfolio manager, MFC Global Investment Management, believes that the markets may start to improve over the near-term given the massive amounts of fiscal stimulus committed by governments around the world and accommodative monetary policy. In addition, with nearly all energy companies significantly reducing their capital expenditure budgets, future oil and gas supplies will be greatly reduced, which should be supportive of higher energy prices.

In the current economic environment, the portfolio manager will continue to focus on holding larger capitalization income trusts with the most sustainable business models and the strongest financial positions. The Fund also holds a small weighting in high-quality dividend paying equities and high-yield bonds to provide additional diversification, growth and income benefits.

For further information call Brompton's investor relations line at 416-642-9051, (toll-free at 1-866-642-6001) or visit our website at

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Fund's publicly filed documents which are available from SEDAR at Investment funds are not guaranteed; their values change frequently and past performance may not be repeated.

Forward-Looking Statements

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.

Forward-looking statements in this press release include among other things, the opinion of the portfolio manager. While we consider these assumptions to be reasonable based on information currently available to the portfolio manager, they may prove to be incorrect. There are no assurances that the actual outcomes will match the forward-looking statements as a result of a number of risks and uncertainties that could cause actual results to differ materially from what we currently expect. Other than as required under securities laws, we do not undertake to update this information at any particular time.

Contact Information

  • Brompton Funds Management Limited
    David E. Roode
    Senior Vice President
    (416) 642-6008