diversiTrust(TM) Income Fund

Goodman & Company, Investment Counsel Ltd.

Goodman & Company, Investment Counsel Ltd.
Dynamic Funds

Dynamic Funds

March 19, 2008 12:59 ET

diversiTrust™ Income Fund Announces Issuer Bid

TORONTO, ONTARIO--(Marketwire - March 19, 2008) - 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 289,434 trust units of the Fund (the "Trust Units") representing approximately 10% of the public float. The public float of the fund as of March 11, 2008 was 2,894,345 Trust Units.

The Trust Units may be purchased for cancellation commencing as at March 21, 2008 through to March 20, 2009 through the facilities of the TSX and may be purchased when the net asset value per Trust Unit exceeds its trading price. Pursuant to TSX policies, the Fund will not purchase during any 30 day period more than 2% of the 2,915,496 Trust Units outstanding as at March 11, 2008. A Notice of Intention to Make a Normal Course Issuer Bid has been accepted by the TSX effective as of March 19, 2008.

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. For the period March 21, 2007 to March 11, 2008, 82,900 Trust Units were purchased by the Fund under its normal course issuer bid at an average market price of $15.10 per Trust Unit (excluding commission charges).

The Fund is a TSX listed closed-end investment trust, which seeks to provide a stable stream of monthly distributions through investment in a diversified portfolio of business, resource, real estate and utility trusts, and other high-yielding securities. As of March 11, 2008 the net asset value was $13.09 per Trust Unit and the closing trading price was $12.56 per Trust Unit (representing a discount of 4.02% when measured against the net asset value per Trust Unit).

Goodman & Company, Investment Counsel Ltd. is a leading Canadian asset management company tracing its roots back more than 50 years, with more than $26 billion in assets under management. Goodman & Company offers a wide range of wealth management solutions through registered financial advisors. These include the mutual funds, hedge funds and closed-end investment trusts of Dynamic Funds™, the portfolio solutions of the Marquis Investment Program, the flow-through limited partnerships of CMP™ and Canada Dominion and the high-net investment counsel of Goodman Private Wealth Management. Goodman & Company is a subsidiary of DundeeWealth Inc. (TSX:DW).

Contact Information

  • Goodman & Company, Investment Counsel Ltd.
    Customer Relations Centre
    Website: www.diversifunds.com
    Myra Reisler
    Media Relations
    (416) 342-1829