Dynamic Funds

Dynamic Funds
Goodman & Company, Investment Counsel Ltd.

Goodman & Company, Investment Counsel Ltd.

March 19, 2007 14:09 ET

diversiTrust™ Income Fund Announces Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - March 19, 2007) - Goodman & Company, Investment Counsel Ltd. ("Goodman & Company"), the manager of diversiTrust™ Income Fund (TSX:DTF.UN) (the "Fund"), announces a normal course issuer bid. In accordance with the terms of its initial public offering, the Fund intends to purchase, through the facilities of the TSX, up to 325,726 trust units of the Fund (the "Trust Units") representing approximately 10% of the public float. The public float of the Fund as of March 8, 2007 was 3,257,264 Trust Units.

The Trust Units may be purchased for cancellation commencing as at March 21, 2007 through to March 20, 2008 through the facilities of the TSX and may be purchased when the net asset value per Trust Unit exceeds its trading price. A Notice of Intention to Make a Normal Course Issuer Bid has been accepted by the TSX effective as of March 19, 2007.

The purpose of the normal course issuer bid is to provide the Fund with a mechanism to decrease the potential spread between the net asset value per Trust Unit and the market price of the Trust Units. The Fund had 3,272,892 Trust Units issued and outstanding as of March 8, 2007. For the period March 21, 2006 to March 8, 2007, 57,000 Trust Units were purchased by the Fund under its normal course issuer bid at an average market price of $16.12 per Trust Unit (excluding commission charges).

The Fund is a TSX traded closed-end investment trust, which seeks to provide a stable monthly distribution through investment in a diversified portfolio of business, resource, real estate and utility trusts, and other high-yielding securities. As of March 8, 2007 the net asset value was $15.29 per Trust Unit and the closing trading price was $14.95 per Trust Unit (representing a discount of 2.22% when measured against the net asset value per Trust Unit).

Goodman & Company, manager of the Funds, also manages a broad range of core and specialized funds, including several industry-leading equity income mutual funds. Goodman & Company also manages diversiGlobal Dividend Value Fund™ (DGD.UN), diversiTrust™ Energy Income Fund (DTN.UN), diversiTrust™ Income+ Fund (DTP.UN), diversiTrust™ Stable Income Fund (DTS.UN) and diversiYield™ Income Fund (DYI.UN).

Goodman & Company is a leading Canadian investment firm tracing its portfolio management roots back 50 years, with more than $23 billion in assets under management. Goodman & Company, including Dynamic Funds™ and its affiliates, offers a wide range of wealth management solutions through registered financial advisors. These include mutual funds, portfolio solutions like the Marquis Investment Program, limited partnerships (CMP and Canada Dominion), hedge funds and high net-worth investment counsel (Goodman Private Wealth Management). Goodman & Company is a subsidiary of Dundee Wealth Management Inc. (TSX:DW).

Contact Information

  • Goodman & Company, Investment Counsel Ltd.
    Customer Relations Centre
    Goodman & Company, Investment Counsel Ltd.
    Trevor Hampden
    Public Relations
    (416) 365-5002
    Website: www.diversifunds.com