Goodman & Company, Investment Counsel Ltd.

Goodman & Company, Investment Counsel Ltd.
Dynamic Funds

Dynamic Funds
diversiTrust Income+ Fund
TSX : DTP.UN

diversiTrust Income+ Fund

April 29, 2008 13:45 ET

diversiTrust™ Income+ Fund Announces Issuer Bid

TORONTO, ONTARIO--(Marketwire - April 29, 2008) - Goodman & Company, Investment Counsel Ltd. ("Goodman & Company"), the manager of diversiTrust Income+ Fund (TSX:DTP.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 532,509 trust units of the Fund (the "Trust Units") representing approximately 10% of the public float. The public float of the fund as of April 17, 2008 was 5,325,092 Trust Units.

The Trust Units may be purchased for cancellation commencing as at May 1, 2008 through to April 30, 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 5,378,206 Trust Units outstanding as at April 17, 2008. A Notice of Intention to Make a Normal Course Issuer Bid has been accepted by the TSX effective as of April 29, 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 May 1, 2007 to April 17, 2008, 77,700 Trust Units were purchased by the Fund under its normal course issuer bid at an average market price of $11.97 per Trust Unit (excluding commission charges).

The Fund is a TSX-listed closed-end investment trust, which seeks to provide a stable monthly distribution through investment in a diversified portfolio consisting primarily of business, resource, real estate and utility trusts, dividend paying equities and other high-yielding securities. As of April 17, 2008 the net asset value was $11.77 per Trust Unit and the closing trading price was $11.17 per Trust Unit (representing a discount of 5.098% 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 50 years. 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 Resources 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
    1-800-268-8186
    Website: www.diversifunds.com
    or
    Myra Reisler
    Media Relations
    (416) 342-1829